diff --git a/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventProvider.cs b/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventProvider.cs
index d43e49f92ca3d..ce477e02c9ef7 100644
--- a/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventProvider.cs
+++ b/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventProvider.cs
@@ -7,6 +7,7 @@
 using System.Globalization;
 using System.Numerics;
 using System.Runtime.InteropServices;
+using System.Threading;
 
 #if ES_BUILD_STANDALONE
 using Microsoft.Win32;
@@ -209,6 +210,7 @@ protected virtual void Dispose(bool disposing)
             // deadlocks in race conditions (dispose racing with an ETW command).
             //
             // We solve by Unregistering after releasing the EventListenerLock.
+            Debug.Assert(!Monitor.IsEntered(EventListener.EventListenersLock));
             if (registrationHandle != 0)
                 EventUnregister(registrationHandle);
         }
diff --git a/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventSource.cs b/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventSource.cs
index 556e4e8df58fe..e47a6127022cf 100644
--- a/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventSource.cs
+++ b/src/libraries/System.Private.CoreLib/src/System/Diagnostics/Tracing/EventSource.cs
@@ -1449,6 +1449,10 @@ protected virtual void Dispose(bool disposing)
                 return;
             }
 
+            // Do not invoke Dispose under the lock as this can lead to a deadlock.
+            // See https://github.com/dotnet/runtime/issues/48342 for details.
+            Debug.Assert(!Monitor.IsEntered(EventListener.EventListenersLock));
+
             if (disposing)
             {
 #if FEATURE_MANAGED_ETW
@@ -4274,16 +4278,26 @@ internal static void DisposeOnShutdown()
 #endif
         {
             Debug.Assert(EventSource.IsSupported);
-
+            List<EventSource> sourcesToDispose = new List<EventSource>();
             lock (EventListenersLock)
             {
                 Debug.Assert(s_EventSources != null);
                 foreach (WeakReference<EventSource> esRef in s_EventSources)
                 {
                     if (esRef.TryGetTarget(out EventSource? es))
-                        es.Dispose();
+                    {
+                        sourcesToDispose.Add(es);
+                    }
                 }
             }
+
+            // Do not invoke Dispose under the lock as this can lead to a deadlock.
+            // See https://github.com/dotnet/runtime/issues/48342 for details.
+            Debug.Assert(!Monitor.IsEntered(EventListenersLock));
+            foreach (EventSource es in sourcesToDispose)
+            {
+                es.Dispose();
+            }
         }
 
         /// <summary>