diff --git a/components/bt/controller/esp32c3/bt.c b/components/bt/controller/esp32c3/bt.c
index 9296b86ec4..f757fac3c7 100644
--- a/components/bt/controller/esp32c3/bt.c
+++ b/components/bt/controller/esp32c3/bt.c
@@ -1244,6 +1244,9 @@ esp_err_t esp_bt_controller_deinit(void)
     phy_init_flag();
 
     esp_bt_power_domain_off();
+#if CONFIG_MAC_BB_PD
+    esp_mac_bb_pd_mem_deinit();
+#endif
 
     free(osi_funcs_p);
     osi_funcs_p = NULL;
diff --git a/components/esp_phy/include/esp_phy_init.h b/components/esp_phy/include/esp_phy_init.h
index b2562ef11e..56054d82cd 100644
--- a/components/esp_phy/include/esp_phy_init.h
+++ b/components/esp_phy/include/esp_phy_init.h
@@ -181,6 +181,11 @@ void esp_phy_load_cal_and_init(void);
  */
 void esp_mac_bb_pd_mem_init(void);
 
+/**
+ * @brief Deinitialize backup memory for MAC and Baseband power up/down
+ */
+void esp_mac_bb_pd_mem_deinit(void);
+
 /**
  * @brief Power up MAC and Baseband
  */
diff --git a/components/esp_phy/src/phy_init.c b/components/esp_phy/src/phy_init.c
index fcfb4cd68c..0be0acd881 100644
--- a/components/esp_phy/src/phy_init.c
+++ b/components/esp_phy/src/phy_init.c
@@ -79,6 +79,8 @@ static uint32_t* s_phy_digital_regs_mem = NULL;
 
 #if CONFIG_MAC_BB_PD
 uint32_t* s_mac_bb_pd_mem = NULL;
+/* Reference count of MAC BB backup memory */
+static uint8_t s_backup_mem_ref = 0;
 #endif
 
 #if CONFIG_ESP_PHY_MULTIPLE_INIT_DATA_BIN
@@ -317,6 +319,7 @@ void esp_mac_bb_pd_mem_init(void)
 {
     _lock_acquire(&s_phy_access_lock);
 
+    s_backup_mem_ref++;
     if (s_mac_bb_pd_mem == NULL) {
         s_mac_bb_pd_mem = (uint32_t *)heap_caps_malloc(SOC_MAC_BB_PD_MEM_SIZE, MALLOC_CAP_DMA|MALLOC_CAP_INTERNAL);
     }
@@ -324,6 +327,19 @@ void esp_mac_bb_pd_mem_init(void)
     _lock_release(&s_phy_access_lock);
 }
 
+void esp_mac_bb_pd_mem_deinit(void)
+{
+    _lock_acquire(&s_phy_access_lock);
+
+    s_backup_mem_ref--;
+    if (s_backup_mem_ref == 0) {
+        free(s_mac_bb_pd_mem);
+        s_mac_bb_pd_mem = NULL;
+    }
+
+    _lock_release(&s_phy_access_lock);
+}
+
 IRAM_ATTR void esp_mac_bb_power_up(void)
 {
     if (s_mac_bb_pd_mem == NULL) {
diff --git a/components/esp_wifi/src/wifi_init.c b/components/esp_wifi/src/wifi_init.c
index 351f8a5600..eb6d4945c6 100644
--- a/components/esp_wifi/src/wifi_init.c
+++ b/components/esp_wifi/src/wifi_init.c
@@ -129,6 +129,9 @@ esp_err_t esp_wifi_deinit(void)
     phy_init_flag();
 #endif
     esp_wifi_power_domain_off();
+#if CONFIG_MAC_BB_PD
+    esp_mac_bb_pd_mem_deinit();
+#endif
     return err;
 }