diff --git a/subsys/ipc/ipc_service/lib/Kconfig.icmsg b/subsys/ipc/ipc_service/lib/Kconfig.icmsg
index 6847844d67a..e8f92a945a3 100644
--- a/subsys/ipc/ipc_service/lib/Kconfig.icmsg
+++ b/subsys/ipc/ipc_service/lib/Kconfig.icmsg
@@ -27,11 +27,6 @@ config IPC_SERVICE_ICMSG_SHMEM_ACCESS_TO_MS
 	  Maximum time to wait, in milliseconds, for access to send data with
 	  backends basing on icmsg library. This time should be relatively low.
 
-# The Icmsg library in its simplicity requires the system workqueue to execute
-# at a cooperative priority.
-config SYSTEM_WORKQUEUE_PRIORITY
-	range -256 -1
-
 config IPC_SERVICE_ICMSG_BOND_NOTIFY_REPEAT_TO_MS
 	int "Bond notification timeout in miliseconds"
 	range 1 100
@@ -39,3 +34,46 @@ config IPC_SERVICE_ICMSG_BOND_NOTIFY_REPEAT_TO_MS
 	help
 	  Time to wait for remote bonding notification before the
 	  notification is repeated.
+
+config IPC_SERVICE_BACKEND_ICMSG_WQ_ENABLE
+	bool "Use dedicated workqueue"
+	default y
+	help
+	  Enable dedicated workqueue thread for the ICMsg backend.
+	  Disabling this configuration will cause the ICMsg backend to
+	  process incoming data through the system workqueue context, and
+	  therefore reduces the RAM footprint of the backend.
+	  Disabling this config may result in deadlocks in certain usage
+	  scenarios, such as when synchronous IPC is executed from the system
+	  workqueue context.
+	  The callbacks coming from the backend are executed from the workqueue
+	  context.
+	  When the option is disabled, the user must obey the restrictions
+	  imposed by the system workqueue, such as never performing blocking
+	  operations from within the callback.
+
+if IPC_SERVICE_BACKEND_ICMSG_WQ_ENABLE
+
+config IPC_SERVICE_BACKEND_ICMSG_WQ_STACK_SIZE
+	int "Size of RX work queue stack"
+	default 1024
+	help
+	  Size of stack used by work queue RX thread. This work queue is
+	  created to prevent notifying service users about received data
+	  from the system work queue. The queue is shared among instances.
+
+config IPC_SERVICE_BACKEND_ICMSG_WQ_PRIORITY
+	int "Priority of RX work queue thread"
+	default -1
+	range -256 -1
+	help
+	  Priority of the ICMSG RX work queue thread.
+	  The ICMSG library in its simplicity requires the workqueue to execute
+	  at a cooperative priority.
+
+endif
+
+# The Icmsg library in its simplicity requires the system workqueue to execute
+# at a cooperative priority.
+config SYSTEM_WORKQUEUE_PRIORITY
+	range -256 -1 if !IPC_SERVICE_BACKEND_ICMSG_WQ_ENABLE
diff --git a/subsys/ipc/ipc_service/lib/icmsg.c b/subsys/ipc/ipc_service/lib/icmsg.c
index b0b9ad11e5b..9d238f19351 100644
--- a/subsys/ipc/ipc_service/lib/icmsg.c
+++ b/subsys/ipc/ipc_service/lib/icmsg.c
@@ -10,6 +10,7 @@
 #include <zephyr/drivers/mbox.h>
 #include <zephyr/sys/atomic.h>
 #include <zephyr/sys/spsc_pbuf.h>
+#include <zephyr/init.h>
 
 #define BOND_NOTIFY_REPEAT_TO	K_MSEC(CONFIG_IPC_SERVICE_ICMSG_BOND_NOTIFY_REPEAT_TO_MS)
 #define SHMEM_ACCESS_TO		K_MSEC(CONFIG_IPC_SERVICE_ICMSG_SHMEM_ACCESS_TO_MS)
@@ -28,6 +29,14 @@ enum tx_buffer_state {
 static const uint8_t magic[] = {0x45, 0x6d, 0x31, 0x6c, 0x31, 0x4b,
 				0x30, 0x72, 0x6e, 0x33, 0x6c, 0x69, 0x34};
 
+#if IS_ENABLED(CONFIG_IPC_SERVICE_BACKEND_ICMSG_WQ_ENABLE)
+static K_THREAD_STACK_DEFINE(icmsg_stack, CONFIG_IPC_SERVICE_BACKEND_ICMSG_WQ_STACK_SIZE);
+static struct k_work_q icmsg_workq;
+static struct k_work_q *const workq = &icmsg_workq;
+#else
+static struct k_work_q *const workq = &k_sys_work_q;
+#endif
+
 static int mbox_deinit(const struct icmsg_config_t *conf,
 		       struct icmsg_data_t *dev_data)
 {
@@ -62,7 +71,7 @@ static void notify_process(struct k_work *item)
 	if (state != ICMSG_STATE_READY) {
 		int ret;
 
-		ret = k_work_reschedule(dwork, BOND_NOTIFY_REPEAT_TO);
+		ret = k_work_reschedule_for_queue(workq, dwork, BOND_NOTIFY_REPEAT_TO);
 		__ASSERT_NO_MSG(ret >= 0);
 		(void)ret;
 	}
@@ -138,7 +147,7 @@ static bool is_rx_data_available(struct icmsg_data_t *dev_data)
 
 static void submit_mbox_work(struct icmsg_data_t *dev_data)
 {
-	if (k_work_submit(&dev_data->mbox_work) < 0) {
+	if (k_work_submit_to_queue(workq, &dev_data->mbox_work) < 0) {
 		/* The mbox processing work is never canceled.
 		 * The negative error code should never be seen.
 		 */
@@ -290,7 +299,7 @@ int icmsg_open(const struct icmsg_config_t *conf,
 		return ret;
 	}
 
-	ret = k_work_schedule(&dev_data->notify_work, K_NO_WAIT);
+	ret = k_work_schedule_for_queue(workq, &dev_data->notify_work, K_NO_WAIT);
 	if (ret < 0) {
 		return ret;
 	}
@@ -519,3 +528,22 @@ int icmsg_release_rx_buffer(const struct icmsg_config_t *conf,
 	return 0;
 }
 #endif /* CONFIG_IPC_SERVICE_ICMSG_NOCOPY_RX */
+
+#if IS_ENABLED(CONFIG_IPC_SERVICE_BACKEND_ICMSG_WQ_ENABLE)
+
+static int work_q_init(void)
+{
+	struct k_work_queue_config cfg = {
+		.name = "icmsg_workq",
+	};
+
+	k_work_queue_start(&icmsg_workq,
+			    icmsg_stack,
+			    K_KERNEL_STACK_SIZEOF(icmsg_stack),
+			    CONFIG_IPC_SERVICE_BACKEND_ICMSG_WQ_PRIORITY, &cfg);
+	return 0;
+}
+
+SYS_INIT(work_q_init, POST_KERNEL, CONFIG_KERNEL_INIT_PRIORITY_DEFAULT);
+
+#endif