diff --git a/lib/fdtdec.c b/lib/fdtdec.c
index 5b3b26df968..6865f78c70d 100644
--- a/lib/fdtdec.c
+++ b/lib/fdtdec.c
@@ -1668,8 +1668,16 @@ int fdtdec_setup(void)
 {
 	int ret = -ENOENT;
 
-	/* If allowing a bloblist, check that first */
-	if (CONFIG_IS_ENABLED(BLOBLIST)) {
+	/*
+	 * If allowing a bloblist, check that first. There was discussion about
+	 * adding an OF_BLOBLIST Kconfig, but this was rejected.
+	 *
+	 * The necessary test is whether the previous phase passed a bloblist,
+	 * not whether this phase creates one.
+	 */
+	if (CONFIG_IS_ENABLED(BLOBLIST) &&
+	    (spl_prev_phase() != PHASE_TPL ||
+	     !IS_ENABLED(CONFIG_TPL_BLOBLIST))) {
 		ret = bloblist_maybe_init();
 		if (!ret) {
 			gd->fdt_blob = bloblist_find(BLOBLISTT_CONTROL_FDT, 0);