diff --git a/examples/ethernet/basic/components/ethernet_init/CMakeLists.txt b/examples/ethernet/basic/components/ethernet_init/CMakeLists.txt
index 382893ed87..ef299cdfd4 100644
--- a/examples/ethernet/basic/components/ethernet_init/CMakeLists.txt
+++ b/examples/ethernet/basic/components/ethernet_init/CMakeLists.txt
@@ -1,3 +1,3 @@
 idf_component_register(SRCS "ethernet_init.c"
-                       PRIV_REQUIRES driver esp_eth
+                       PRIV_REQUIRES esp_driver_gpio esp_eth
                        INCLUDE_DIRS ".")
diff --git a/examples/ethernet/basic/components/ethernet_init/ethernet_init.c b/examples/ethernet/basic/components/ethernet_init/ethernet_init.c
index d5f4ea3417..b34304e4a3 100644
--- a/examples/ethernet/basic/components/ethernet_init/ethernet_init.c
+++ b/examples/ethernet/basic/components/ethernet_init/ethernet_init.c
@@ -9,11 +9,9 @@
 #include "esp_mac.h"
 #include "driver/gpio.h"
 #include "sdkconfig.h"
-#if CONFIG_ETH_USE_SPI_ETHERNET
+#if CONFIG_EXAMPLE_USE_SPI_ETHERNET
 #include "driver/spi_master.h"
-#endif // CONFIG_ETH_USE_SPI_ETHERNET
-
-static const char *TAG = "example_eth_init";
+#endif // CONFIG_EXAMPLE_USE_SPI_ETHERNET
 
 #if CONFIG_EXAMPLE_SPI_ETHERNETS_NUM
 #define SPI_ETHERNETS_NUM           CONFIG_EXAMPLE_SPI_ETHERNETS_NUM
@@ -45,6 +43,12 @@ typedef struct {
     uint8_t *mac_addr;
 }spi_eth_module_config_t;
 
+static const char *TAG = "example_eth_init";
+#if CONFIG_EXAMPLE_USE_SPI_ETHERNET
+static bool gpio_isr_svc_init_by_eth = false; // indicates that we initialized the GPIO ISR service
+#endif // CONFIG_EXAMPLE_USE_SPI_ETHERNET
+
+
 #if CONFIG_EXAMPLE_USE_INTERNAL_ETHERNET
 /**
  * @brief Internal ESP32 Ethernet initialization
@@ -128,17 +132,19 @@ static esp_err_t spi_bus_init(void)
 {
     esp_err_t ret = ESP_OK;
 
+#if (CONFIG_EXAMPLE_ETH_SPI_INT0_GPIO >= 0) || (CONFIG_EXAMPLE_ETH_SPI_INT1_GPIO > 0)
     // Install GPIO ISR handler to be able to service SPI Eth modules interrupts
     ret = gpio_install_isr_service(0);
-    if (ret != ESP_OK) {
-        if (ret == ESP_ERR_INVALID_STATE) {
-            ESP_LOGW(TAG, "GPIO ISR handler has been already installed");
-            ret = ESP_OK; // ISR handler has been already installed so no issues
-        } else {
-            ESP_LOGE(TAG, "GPIO ISR handler install failed");
-            goto err;
-        }
+    if (ret == ESP_OK) {
+        gpio_isr_svc_init_by_eth = true;
+    } else if (ret == ESP_ERR_INVALID_STATE) {
+        ESP_LOGW(TAG, "GPIO ISR handler has been already installed");
+        ret = ESP_OK; // ISR handler has been already installed so no issues
+    } else {
+        ESP_LOGE(TAG, "GPIO ISR handler install failed");
+        goto err;
     }
+#endif
 
     // Init SPI bus
     spi_bus_config_t buscfg = {
@@ -283,7 +289,7 @@ esp_err_t example_eth_init(esp_eth_handle_t *eth_handles_out[], uint8_t *eth_cnt
         ESP_GOTO_ON_FALSE(eth_handles[eth_cnt], ESP_FAIL, err, TAG, "SPI Ethernet init failed");
         eth_cnt++;
     }
-#endif // CONFIG_ETH_USE_SPI_ETHERNET
+#endif // CONFIG_EXAMPLE_USE_SPI_ETHERNET
 #else
     ESP_LOGD(TAG, "no Ethernet device selected to init");
 #endif // CONFIG_EXAMPLE_USE_INTERNAL_ETHERNET || CONFIG_EXAMPLE_USE_SPI_ETHERNET
@@ -297,3 +303,36 @@ err:
     return ret;
 #endif
 }
+
+esp_err_t example_eth_deinit(esp_eth_handle_t *eth_handles, uint8_t eth_cnt)
+{
+    ESP_RETURN_ON_FALSE(eth_handles != NULL, ESP_ERR_INVALID_ARG, TAG, "array of Ethernet handles cannot be NULL");
+    for (int i = 0; i < eth_cnt; i++) {
+        esp_eth_mac_t *mac = NULL;
+        esp_eth_phy_t *phy = NULL;
+        if (eth_handles[i] != NULL) {
+            esp_eth_get_mac_instance(eth_handles[i], &mac);
+            esp_eth_get_phy_instance(eth_handles[i], &phy);
+            ESP_RETURN_ON_ERROR(esp_eth_driver_uninstall(eth_handles[i]), TAG, "Ethernet %p uninstall failed", eth_handles[i]);
+        }
+        if (mac != NULL) {
+            mac->del(mac);
+        }
+        if (phy != NULL) {
+            phy->del(phy);
+        }
+    }
+#if CONFIG_EXAMPLE_USE_SPI_ETHERNET
+    spi_bus_free(CONFIG_EXAMPLE_ETH_SPI_HOST);
+#if (CONFIG_EXAMPLE_ETH_SPI_INT0_GPIO >= 0) || (CONFIG_EXAMPLE_ETH_SPI_INT1_GPIO > 0)
+    // We installed the GPIO ISR service so let's uninstall it too.
+    // BE CAREFUL HERE though since the service might be used by other functionality!
+    if (gpio_isr_svc_init_by_eth) {
+        ESP_LOGW(TAG, "uninstalling GPIO ISR service!");
+        gpio_uninstall_isr_service();
+    }
+#endif
+#endif //CONFIG_EXAMPLE_USE_SPI_ETHERNET
+    free(eth_handles);
+    return ESP_OK;
+}
diff --git a/examples/ethernet/basic/main/Kconfig.projbuild b/examples/ethernet/basic/main/Kconfig.projbuild
new file mode 100644
index 0000000000..27a8f9d742
--- /dev/null
+++ b/examples/ethernet/basic/main/Kconfig.projbuild
@@ -0,0 +1,9 @@
+menu "Example Configuration"
+    config EXAMPLE_ETH_DEINIT_AFTER_S
+        int "Stop and deinit Ethernet after elapsing number of secs"
+        range -1 300
+        default -1
+        help
+            This option is for demonstration purposes only to demonstrate deinitialization of the Ethernet driver.
+            Set to -1 to not deinitialize.
+endmenu
diff --git a/examples/ethernet/basic/main/ethernet_example_main.c b/examples/ethernet/basic/main/ethernet_example_main.c
index b3033e3329..71f99a1687 100644
--- a/examples/ethernet/basic/main/ethernet_example_main.c
+++ b/examples/ethernet/basic/main/ethernet_example_main.c
@@ -75,14 +75,18 @@ void app_main(void)
     // Create default event loop that running in background
     ESP_ERROR_CHECK(esp_event_loop_create_default());
 
+    esp_netif_t *eth_netifs[eth_port_cnt];
+    esp_eth_netif_glue_handle_t eth_netif_glues[eth_port_cnt];
+
     // Create instance(s) of esp-netif for Ethernet(s)
     if (eth_port_cnt == 1) {
         // Use ESP_NETIF_DEFAULT_ETH when just one Ethernet interface is used and you don't need to modify
         // default esp-netif configuration parameters.
         esp_netif_config_t cfg = ESP_NETIF_DEFAULT_ETH();
-        esp_netif_t *eth_netif = esp_netif_new(&cfg);
+        eth_netifs[0] = esp_netif_new(&cfg);
+        eth_netif_glues[0] = esp_eth_new_netif_glue(eth_handles[0]);
         // Attach Ethernet driver to TCP/IP stack
-        ESP_ERROR_CHECK(esp_netif_attach(eth_netif, esp_eth_new_netif_glue(eth_handles[0])));
+        ESP_ERROR_CHECK(esp_netif_attach(eth_netifs[0], eth_netif_glues[0]));
     } else {
         // Use ESP_NETIF_INHERENT_DEFAULT_ETH when multiple Ethernet interfaces are used and so you need to modify
         // esp-netif configuration parameters for each interface (name, priority, etc.).
@@ -101,10 +105,10 @@ void app_main(void)
             esp_netif_config.if_key = if_key_str;
             esp_netif_config.if_desc = if_desc_str;
             esp_netif_config.route_prio -= i*5;
-            esp_netif_t *eth_netif = esp_netif_new(&cfg_spi);
-
+            eth_netifs[i] = esp_netif_new(&cfg_spi);
+            eth_netif_glues[i] = esp_eth_new_netif_glue(eth_handles[0]);
             // Attach Ethernet driver to TCP/IP stack
-            ESP_ERROR_CHECK(esp_netif_attach(eth_netif, esp_eth_new_netif_glue(eth_handles[i])));
+            ESP_ERROR_CHECK(esp_netif_attach(eth_netifs[i], eth_netif_glues[i]));
         }
     }
 
@@ -116,4 +120,21 @@ void app_main(void)
     for (int i = 0; i < eth_port_cnt; i++) {
         ESP_ERROR_CHECK(esp_eth_start(eth_handles[i]));
     }
+
+#if CONFIG_EXAMPLE_ETH_DEINIT_AFTER_S >= 0
+    // For demonstration purposes, wait and then deinit Ethernet network
+    vTaskDelay(pdMS_TO_TICKS(CONFIG_EXAMPLE_ETH_DEINIT_AFTER_S * 1000));
+    ESP_LOGI(TAG, "stop and deinitialize Ethernet network...");
+    // Stop Ethernet driver state machine and destroy netif
+    for (int i = 0; i < eth_port_cnt; i++) {
+        ESP_ERROR_CHECK(esp_eth_stop(eth_handles[i]));
+        ESP_ERROR_CHECK(esp_eth_del_netif_glue(eth_netif_glues[i]));
+        esp_netif_destroy(eth_netifs[i]);
+    }
+    esp_netif_deinit();
+    ESP_ERROR_CHECK(example_eth_deinit(eth_handles, eth_port_cnt));
+    ESP_ERROR_CHECK(esp_event_handler_unregister(IP_EVENT, IP_EVENT_ETH_GOT_IP, got_ip_event_handler));
+    ESP_ERROR_CHECK(esp_event_handler_unregister(ETH_EVENT, ESP_EVENT_ANY_ID, eth_event_handler));
+    ESP_ERROR_CHECK(esp_event_loop_delete_default());
+#endif // EXAMPLE_ETH_DEINIT_AFTER_S > 0
 }