diff --git a/src/include/thread.h b/src/include/thread.h
index ce250b8520..3c06cc5311 100644
--- a/src/include/thread.h
+++ b/src/include/thread.h
@@ -51,8 +51,6 @@ struct thread {
 	struct thread_handle *handle;
 };
 
-void threads_initialize(void);
-
 /* Return 0 on successful yield, < 0 when thread did not yield. */
 int thread_yield(void);
 
@@ -88,7 +86,6 @@ asmlinkage void switch_to_thread(uintptr_t new_stack, uintptr_t *saved_stack);
 void arch_prepare_thread(struct thread *t,
 			 asmlinkage void (*thread_entry)(void *), void *arg);
 #else
-static inline void threads_initialize(void) {}
 static inline int thread_yield(void)
 {
 	return -1;
diff --git a/src/lib/hardwaremain.c b/src/lib/hardwaremain.c
index a239f8f238..a6ab66347e 100644
--- a/src/lib/hardwaremain.c
+++ b/src/lib/hardwaremain.c
@@ -456,7 +456,6 @@ void main(void)
 
 	/* Handoff sleep type from romstage. */
 	acpi_is_wakeup_s3();
-	threads_initialize();
 
 	/* Initialise GNVS early. */
 	if (CONFIG(ACPI_SOC_NVS))
diff --git a/src/lib/thread.c b/src/lib/thread.c
index 413e5b4bec..2ff09a50d5 100644
--- a/src/lib/thread.c
+++ b/src/lib/thread.c
@@ -257,13 +257,16 @@ static void *thread_alloc_space(struct thread *t, size_t bytes)
 	return (void *)t->stack_current;
 }
 
-void threads_initialize(void)
+static void threads_initialize(void)
 {
 	int i;
 	struct thread *t;
 	u8 *stack_top;
 	struct cpu_info *ci;
 
+	if (initialized)
+		return;
+
 	/* `cpu_info()` requires the stacks to be STACK_SIZE aligned */
 	assert(IS_ALIGNED((uintptr_t)thread_stacks, CONFIG_STACK_SIZE));
 
@@ -295,6 +298,9 @@ int thread_run(struct thread_handle *handle, enum cb_err (*func)(void *), void *
 	struct thread *current;
 	struct thread *t;
 
+	/* Lazy initialization */
+	threads_initialize();
+
 	current = current_thread();
 
 	if (!thread_can_yield(current)) {
@@ -327,6 +333,9 @@ int thread_run_until(struct thread_handle *handle, enum cb_err (*func)(void *),
 	if (!ENV_RAMSTAGE)
 		dead_code();
 
+	/* Lazy initialization */
+	threads_initialize();
+
 	current = current_thread();
 
 	if (!thread_can_yield(current)) {