diff --git a/drivers/ethernet/eth_lan865x.c b/drivers/ethernet/eth_lan865x.c
index 870d6ab82cb..a9a3673ed99 100644
--- a/drivers/ethernet/eth_lan865x.c
+++ b/drivers/ethernet/eth_lan865x.c
@@ -179,65 +179,109 @@ static uint8_t lan865x_read_indirect_reg(const struct device *dev, uint8_t addr,
 	return (uint8_t) val & mask;
 }
 
+/*
+ * Values in the below table for LAN865x rev. B0 and B1 (with place
+ * holders for cfgparamX.
+ */
+static oa_mem_map_t lan865x_conf[] = {
+	{ .mms = 0x1, .address = 0x00, .value = 0x0000 },
+	{ .mms = 0x4, .address = 0xD0, .value = 0x3F31 },
+	{ .mms = 0x4, .address = 0xE0, .value = 0xC000 },
+	{ .mms = 0x4, .address = 0x84, .value = 0x0000 }, /* cfgparam1 */
+	{ .mms = 0x4, .address = 0x8A, .value = 0x0000 }, /* cfgparam2 */
+	{ .mms = 0x4, .address = 0xE9, .value = 0x9E50 },
+	{ .mms = 0x4, .address = 0xF5, .value = 0x1CF8 },
+	{ .mms = 0x4, .address = 0xF4, .value = 0xC020 },
+	{ .mms = 0x4, .address = 0xF8, .value = 0xB900 },
+	{ .mms = 0x4, .address = 0xF9, .value = 0x4E53 },
+	{ .mms = 0x4, .address = 0x91, .value = 0x9660 },
+	{ .mms = 0x4, .address = 0x77, .value = 0x0028 },
+	{ .mms = 0x4, .address = 0x43, .value = 0x00FF },
+	{ .mms = 0x4, .address = 0x44, .value = 0xFFFF },
+	{ .mms = 0x4, .address = 0x45, .value = 0x0000 },
+	{ .mms = 0x4, .address = 0x53, .value = 0x00FF },
+	{ .mms = 0x4, .address = 0x54, .value = 0xFFFF },
+	{ .mms = 0x4, .address = 0x55, .value = 0x0000 },
+	{ .mms = 0x4, .address = 0x40, .value = 0x0002 },
+	{ .mms = 0x4, .address = 0x50, .value = 0x0002 },
+	{ .mms = 0x4, .address = 0xAD, .value = 0x0000 }, /* cfgparam3 */
+	{ .mms = 0x4, .address = 0xAE, .value = 0x0000 }, /* cfgparam4 */
+	{ .mms = 0x4, .address = 0xAF, .value = 0x0000 }, /* cfgparam5 */
+	{ .mms = 0x4, .address = 0xB0, .value = 0x0103 },
+	{ .mms = 0x4, .address = 0xB1, .value = 0x0910 },
+	{ .mms = 0x4, .address = 0xB2, .value = 0x1D26 },
+	{ .mms = 0x4, .address = 0xB3, .value = 0x002A },
+	{ .mms = 0x4, .address = 0xB4, .value = 0x0103 },
+	{ .mms = 0x4, .address = 0xB5, .value = 0x070D },
+	{ .mms = 0x4, .address = 0xB6, .value = 0x1720 },
+	{ .mms = 0x4, .address = 0xB7, .value = 0x0027 },
+	{ .mms = 0x4, .address = 0xB8, .value = 0x0509 },
+	{ .mms = 0x4, .address = 0xB9, .value = 0x0E13 },
+	{ .mms = 0x4, .address = 0xBA, .value = 0x1C25 },
+	{ .mms = 0x4, .address = 0xBB, .value = 0x002B },
+	{ .mms = 0x4, .address = 0x0C, .value = 0x0100 },
+	{ .mms = 0x4, .address = 0x81, .value = 0x00E0 },
+};
+
+/* Based on AN1760 DS60001760G pseudo code */
 static int lan865x_init_chip(const struct device *dev, uint8_t silicon_rev)
 {
+	uint16_t cfgparam1, cfgparam2, cfgparam3, cfgparam4, cfgparam5;
+	uint8_t i, size = ARRAY_SIZE(lan865x_conf);
 	struct lan865x_data *ctx = dev->data;
+	int8_t offset1 = 0, offset2 = 0;
 	uint8_t value1, value2;
-	int8_t offset1 = 0, offset2 = 0, ret;
-	uint16_t value3, value4, value5, value6, value7;
-	uint16_t cfgparam1, cfgparam2, cfgparam3, cfgparam4, cfgparam5;
-	uint32_t val;
 
-	ret = lan865x_read_indirect_reg(dev, 0x05, 0x40);
-	if (ret == 0) {
-		LOG_ERR("LAN865x error! Please contact microchip support for replacement.");
-		return -EIO;
-	}
+	/* Enable protected control RW */
+	oa_tc6_set_protected_ctrl(ctx->tc6, true);
 
 	value1 = lan865x_read_indirect_reg(dev, 0x04, 0x1F);
 	if ((value1 & 0x10) != 0) { /* Convert uint8_t to int8_t */
-		offset1 = value1 | 0xE0;
-		if (offset1 < -5) {
-			LOG_ERR("LAN865x internal error!");
-			return -EIO;
-		}
+		offset1 = (int8_t)((uint8_t)value1 - 0x20);
 	} else {
-		offset1 = value1;
+		offset1 = (int8_t)value1;
 	}
 
 	value2 = lan865x_read_indirect_reg(dev, 0x08, 0x1F);
 	if ((value2 & 0x10) != 0) { /* Convert uint8_t to int8_t */
-		offset2 = value2 | 0xE0;
+		offset2 = (int8_t)((uint8_t)value2 - 0x20);
 	} else {
-		offset2 = value2;
-	}
-
-	oa_tc6_reg_read(ctx->tc6, 0x00040084, &val);
-	value3 = (uint16_t)val;
-
-	oa_tc6_reg_read(ctx->tc6, 0x0004008A, &val);
-	value4 = (uint16_t)val;
-
-	oa_tc6_reg_read(ctx->tc6, 0x000400AD, &val);
-	value5 = (uint16_t)val;
-
-	oa_tc6_reg_read(ctx->tc6, 0x000400AE, &val);
-	value6 = (uint8_t)val;
-
-	oa_tc6_reg_read(ctx->tc6, 0x000400AF, &val);
-	value7 = (uint8_t)val;
+		offset2 = (int8_t)value2;
+	}
+
+	cfgparam1 = (uint16_t) (((9 + offset1) & 0x3F) << 10) |
+		(uint16_t) (((14 + offset1) & 0x3F) << 4) | 0x03;
+	cfgparam2 = (uint16_t) (((40 + offset2) & 0x3F) << 10);
+	cfgparam3 = (uint16_t) (((5 + offset1) & 0x3F) << 8) |
+		(uint16_t) ((9 + offset1) & 0x3F);
+	cfgparam4 = (uint16_t) (((9 + offset1) & 0x3F) << 8) |
+		(uint16_t) ((14 + offset1) & 0x3F);
+	cfgparam5 = (uint16_t) (((17 + offset1) & 0x3F) << 8) |
+		(uint16_t) ((22 + offset1) & 0x3F);
+
+	lan865x_update_dev_cfg_array(lan865x_conf, size,
+				     MMS_REG(0x4, 0x84), cfgparam1);
+	lan865x_update_dev_cfg_array(lan865x_conf, size,
+				     MMS_REG(0x4, 0x8A), cfgparam2);
+	lan865x_update_dev_cfg_array(lan865x_conf, size,
+				     MMS_REG(0x4, 0xAD), cfgparam3);
+	lan865x_update_dev_cfg_array(lan865x_conf, size,
+				     MMS_REG(0x4, 0xAE), cfgparam4);
+	lan865x_update_dev_cfg_array(lan865x_conf, size,
+				     MMS_REG(0x4, 0xAF), cfgparam5);
 
-	cfgparam1 = (value3 & 0xF) | (((9 + offset1) << 10) | ((14 + offset1) << 4));
-	cfgparam2 = (value4 & 0x3FF) | ((40 + offset2) << 10);
-	cfgparam3 = (value5 & 0xC0C0) | (((5 + offset1) << 8) | (9 + offset1));
-	cfgparam4 = (value6 & 0xC0C0) | (((9 + offset1) << 8) | (14 + offset1));
-	cfgparam5 = (value7 & 0xC0C0) | (((17 + offset1) << 8) | (22 + offset1));
+	if (silicon_rev == 1) {
+		/* For silicon rev 1 (B0): (bit [3..0] from 0x0A0084 */
+		lan865x_update_dev_cfg_array(lan865x_conf, size,
+					     MMS_REG(0x4, 0xD0), 0x5F21);
+	}
 
-	oa_tc6_reg_write(ctx->tc6, 0x00040084, (uint32_t) cfgparam1);
-	oa_tc6_reg_write(ctx->tc6, 0x0004008A, (uint32_t) cfgparam2);
-	oa_tc6_reg_write(ctx->tc6, 0x000400AD, (uint32_t) cfgparam3);
-	oa_tc6_reg_write(ctx->tc6, 0x000400AE, (uint32_t) cfgparam4);
-	oa_tc6_reg_write(ctx->tc6, 0x000400AF, (uint32_t) cfgparam5);
+	/* Write LAN865x config with correct order */
+	for (i = 0; i < size; i++) {
+		oa_tc6_reg_write(ctx->tc6, MMS_REG(lan865x_conf[i].mms,
+						   lan865x_conf[i].address),
+				 (uint32_t)lan865x_conf[i].value);
+	}
 
 	return 0;
 }
@@ -312,58 +356,9 @@ static int lan865x_set_specific_multicast_addr(const struct device *dev)
 
 static int lan865x_default_config(const struct device *dev, uint8_t silicon_rev)
 {
-	/* Values in the below table are the same for LAN865x rev. B0 and B1 */
-	static const oa_mem_map_t lan865x_conf[] = {
-		{ .address = 0x00010000, .value = 0x00000000 },
-		{ .address = 0x00040091, .value = 0x00009660 },
-		{ .address = 0x00040081, .value = 0x00000080 },
-		{ .address = 0x00010077, .value = 0x00000028 },
-		{ .address = 0x00040043, .value = 0x000000FF },
-		{ .address = 0x00040044, .value = 0x0000FFFF },
-		{ .address = 0x00040045, .value = 0x00000000 },
-		{ .address = 0x00040053, .value = 0x000000FF },
-		{ .address = 0x00040054, .value = 0x0000FFFF },
-		{ .address = 0x00040055, .value = 0x00000000 },
-		{ .address = 0x00040040, .value = 0x00000002 },
-		{ .address = 0x00040050, .value = 0x00000002 },
-		{ .address = 0x000400E9, .value = 0x00009E50 },
-		{ .address = 0x000400F5, .value = 0x00001CF8 },
-		{ .address = 0x000400F4, .value = 0x0000C020 },
-		{ .address = 0x000400F8, .value = 0x00009B00 },
-		{ .address = 0x000400F9, .value = 0x00004E53 },
-		{ .address = 0x000400B0, .value = 0x00000103 },
-		{ .address = 0x000400B1, .value = 0x00000910 },
-		{ .address = 0x000400B2, .value = 0x00001D26 },
-		{ .address = 0x000400B3, .value = 0x0000002A },
-		{ .address = 0x000400B4, .value = 0x00000103 },
-		{ .address = 0x000400B5, .value = 0x0000070D },
-		{ .address = 0x000400B6, .value = 0x00001720 },
-		{ .address = 0x000400B7, .value = 0x00000027 },
-		{ .address = 0x000400B8, .value = 0x00000509 },
-		{ .address = 0x000400B9, .value = 0x00000E13 },
-		{ .address = 0x000400BA, .value = 0x00001C25 },
-		{ .address = 0x000400BB, .value = 0x0000002B },
-		{ .address = 0x0000000C, .value = 0x00000100 },
-		{ .address = 0x00040081, .value = 0x000000E0 },
-	};
 	const struct lan865x_config *cfg = dev->config;
-	uint8_t i, size = ARRAY_SIZE(lan865x_conf);
-	struct lan865x_data *ctx = dev->data;
 	int ret;
 
-	/* Enable protected control RW */
-	oa_tc6_set_protected_ctrl(ctx->tc6, true);
-
-	for (i = 0; i < size; i++) {
-		oa_tc6_reg_write(ctx->tc6, lan865x_conf[i].address,
-				 lan865x_conf[i].value);
-	}
-
-	if (silicon_rev == 1) {
-		/* For silicon rev 1 (B0): (bit [3..0] from 0x0A0084 */
-		oa_tc6_reg_write(ctx->tc6, 0x000400D0, 0x5F21);
-	}
-
 	lan865x_write_macaddress(dev);
 	lan865x_set_specific_multicast_addr(dev);
 
diff --git a/drivers/ethernet/eth_lan865x_priv.h b/drivers/ethernet/eth_lan865x_priv.h
index 1de2c6c7ca1..1ba84bd9ff7 100644
--- a/drivers/ethernet/eth_lan865x_priv.h
+++ b/drivers/ethernet/eth_lan865x_priv.h
@@ -81,4 +81,14 @@ struct lan865x_data {
 	k_tid_t tid_int;
 };
 
+static inline void lan865x_update_dev_cfg_array(oa_mem_map_t *cfg, uint8_t size,
+						uint32_t addr, uint16_t val)
+{
+	for (uint8_t i = 0; i < size; i++) {
+		if (cfg[i].address == addr) {
+			cfg[i].value = val;
+		}
+	}
+}
+
 #endif /* ETH_LAN865X_PRIV_H__ */
diff --git a/drivers/ethernet/oa_tc6.h b/drivers/ethernet/oa_tc6.h
index 0918e1382fa..c61e0359d99 100644
--- a/drivers/ethernet/oa_tc6.h
+++ b/drivers/ethernet/oa_tc6.h
@@ -113,8 +113,9 @@ struct oa_tc6 {
 };
 
 typedef struct {
-	uint32_t address;
-	uint32_t value;
+	uint8_t mms;
+	uint8_t address;
+	uint16_t value;
 } oa_mem_map_t;
 
 /**