diff --git a/components/esp_timer/src/esp_timer_impl_lac.c b/components/esp_timer/src/esp_timer_impl_lac.c
index dc3ab650232..c7f400e3ad9 100644
--- a/components/esp_timer/src/esp_timer_impl_lac.c
+++ b/components/esp_timer/src/esp_timer_impl_lac.c
@@ -1,5 +1,5 @@
 /*
- * SPDX-FileCopyrightText: 2017-2021 Espressif Systems (Shanghai) CO LTD
+ * SPDX-FileCopyrightText: 2017-2023 Espressif Systems (Shanghai) CO LTD
  *
  * SPDX-License-Identifier: Apache-2.0
  */
@@ -94,6 +94,8 @@ static intr_handler_t s_alarm_handler = NULL;
 /* Spinlock used to protect access to the hardware registers. */
 portMUX_TYPE s_time_update_lock = portMUX_INITIALIZER_UNLOCKED;
 
+/* Alarm values to generate interrupt on match */
+static uint64_t timestamp_id[2] = { UINT64_MAX, UINT64_MAX };
 
 void esp_timer_impl_lock(void)
 {
@@ -145,7 +147,7 @@ int64_t esp_timer_get_time(void) __attribute__((alias("esp_timer_impl_get_time")
 
 void IRAM_ATTR esp_timer_impl_set_alarm_id(uint64_t timestamp, unsigned alarm_id)
 {
-    static uint64_t timestamp_id[2] = { UINT64_MAX, UINT64_MAX };
+    assert(alarm_id < sizeof(timestamp_id) / sizeof(timestamp_id[0]));
     portENTER_CRITICAL_SAFE(&s_time_update_lock);
     timestamp_id[alarm_id] = timestamp;
     timestamp = MIN(timestamp_id[0], timestamp_id[1]);
@@ -178,11 +180,42 @@ void IRAM_ATTR esp_timer_impl_set_alarm(uint64_t timestamp)
     esp_timer_impl_set_alarm_id(timestamp, 0);
 }
 
+#ifdef CONFIG_ESP_TIMER_SUPPORTS_ISR_DISPATCH_METHOD
+static void IRAM_ATTR try_to_set_next_alarm(void) {
+    portENTER_CRITICAL_ISR(&s_time_update_lock);
+    unsigned now_alarm_idx;  // ISR is called due to this current alarm
+    unsigned next_alarm_idx; // The following alarm after now_alarm_idx
+    if (timestamp_id[0] < timestamp_id[1]) {
+        now_alarm_idx = 0;
+        next_alarm_idx = 1;
+    } else {
+        now_alarm_idx = 1;
+        next_alarm_idx = 0;
+    }
+
+    if (timestamp_id[next_alarm_idx] != UINT64_MAX) {
+        // The following alarm is valid and can be used.
+        // Remove the current alarm from consideration.
+        esp_timer_impl_set_alarm_id(UINT64_MAX, now_alarm_idx);
+    } else {
+        // There is no the following alarm.
+        // Remove the current alarm from consideration as well.
+        timestamp_id[now_alarm_idx] = UINT64_MAX;
+    }
+    portEXIT_CRITICAL_ISR(&s_time_update_lock);
+}
+#else
+#define try_to_set_next_alarm()
+#endif
+
 static void IRAM_ATTR timer_alarm_isr(void *arg)
 {
     /* Clear interrupt status */
     REG_WRITE(INT_CLR_REG, TIMG_LACT_INT_CLR);
-    /*  Call the upper layer handler */
+
+    try_to_set_next_alarm();
+
+    /* Call the upper layer handler */
     (*s_alarm_handler)(arg);
 }
 
diff --git a/components/esp_timer/src/esp_timer_impl_systimer.c b/components/esp_timer/src/esp_timer_impl_systimer.c
index 30abe9bf757..4a06bf9255b 100644
--- a/components/esp_timer/src/esp_timer_impl_systimer.c
+++ b/components/esp_timer/src/esp_timer_impl_systimer.c
@@ -1,5 +1,5 @@
 /*
- * SPDX-FileCopyrightText: 2017-2021 Espressif Systems (Shanghai) CO LTD
+ * SPDX-FileCopyrightText: 2017-2023 Espressif Systems (Shanghai) CO LTD
  *
  * SPDX-License-Identifier: Apache-2.0
  */
@@ -50,6 +50,9 @@ static systimer_hal_context_t systimer_hal;
 /* Spinlock used to protect access to the hardware registers. */
 static portMUX_TYPE s_time_update_lock = portMUX_INITIALIZER_UNLOCKED;
 
+/* Alarm values to generate interrupt on match */
+static uint64_t timestamp_id[2] = { UINT64_MAX, UINT64_MAX };
+
 void esp_timer_impl_lock(void)
 {
     portENTER_CRITICAL(&s_time_update_lock);
@@ -76,7 +79,7 @@ int64_t esp_timer_get_time(void) __attribute__((alias("esp_timer_impl_get_time")
 
 void IRAM_ATTR esp_timer_impl_set_alarm_id(uint64_t timestamp, unsigned alarm_id)
 {
-    static uint64_t timestamp_id[2] = { UINT64_MAX, UINT64_MAX };
+    assert(alarm_id < sizeof(timestamp_id) / sizeof(timestamp_id[0]));
     portENTER_CRITICAL_SAFE(&s_time_update_lock);
     timestamp_id[alarm_id] = timestamp;
     timestamp = MIN(timestamp_id[0], timestamp_id[1]);
@@ -91,10 +94,41 @@ void IRAM_ATTR esp_timer_impl_set_alarm(uint64_t timestamp)
     esp_timer_impl_set_alarm_id(timestamp, 0);
 }
 
+#ifdef CONFIG_ESP_TIMER_SUPPORTS_ISR_DISPATCH_METHOD
+static void IRAM_ATTR try_to_set_next_alarm(void) {
+    portENTER_CRITICAL_ISR(&s_time_update_lock);
+    unsigned now_alarm_idx;  // ISR is called due to this current alarm
+    unsigned next_alarm_idx; // The following alarm after now_alarm_idx
+    if (timestamp_id[0] < timestamp_id[1]) {
+        now_alarm_idx = 0;
+        next_alarm_idx = 1;
+    } else {
+        now_alarm_idx = 1;
+        next_alarm_idx = 0;
+    }
+
+    if (timestamp_id[next_alarm_idx] != UINT64_MAX) {
+        // The following alarm is valid and can be used.
+        // Remove the current alarm from consideration.
+        esp_timer_impl_set_alarm_id(UINT64_MAX, now_alarm_idx);
+    } else {
+        // There is no the following alarm.
+        // Remove the current alarm from consideration as well.
+        timestamp_id[now_alarm_idx] = UINT64_MAX;
+    }
+    portEXIT_CRITICAL_ISR(&s_time_update_lock);
+}
+#else
+#define try_to_set_next_alarm()
+#endif
+
 static void IRAM_ATTR timer_alarm_isr(void *arg)
 {
     // clear the interrupt
     systimer_ll_clear_alarm_int(systimer_hal.dev, SYSTIMER_LL_ALARM_CLOCK);
+
+    try_to_set_next_alarm();
+
     /* Call the upper layer handler */
     (*s_alarm_handler)(arg);
 }
diff --git a/components/esp_timer/test/test_esp_timer.c b/components/esp_timer/test/test_esp_timer.c
index 90446e47764..7fa9488544c 100644
--- a/components/esp_timer/test/test_esp_timer.c
+++ b/components/esp_timer/test/test_esp_timer.c
@@ -1180,4 +1180,73 @@ TEST_CASE("Test ESP_TIMER_ISR, stop API cleans alarm reg if ISR timer list is em
     vSemaphoreDelete(done);
     printf("timer deleted\n");
 }
+
+volatile uint64_t task_t1;
+volatile uint64_t isr_t1;
+const uint64_t period_task_ms = 200;
+const uint64_t period_isr_ms = 20;
+
+void task_timer_cb(void *arg) {
+    uint64_t t2 = esp_timer_get_time();
+    uint64_t dt_task_ms = (t2 - task_t1) / 1000;
+    task_t1 = t2;
+    printf("task callback, %d msec\n", (int)dt_task_ms);
+    vTaskDelay((period_task_ms / 2) / portTICK_PERIOD_MS);  // very long callback in timer task
+    static bool first_run = true;
+    if (first_run) {
+        first_run = false;
+    } else {
+        TEST_ASSERT_INT_WITHIN(period_task_ms / 3, period_task_ms, dt_task_ms);
+    }
+}
+
+void IRAM_ATTR isr_timer_cb(void *arg) {
+    uint64_t t2 = esp_timer_get_time();
+    uint64_t dt_isr_ms = (t2 - isr_t1) / 1000;
+    isr_t1 = t2;
+    esp_rom_printf("isr callback, %d msec\n", (int)dt_isr_ms);
+    static bool first_run = true;
+    if (first_run) {
+        first_run = false;
+    } else {
+        TEST_ASSERT_INT_WITHIN(period_isr_ms / 3, period_isr_ms, dt_isr_ms);
+    }
+}
+
+TEST_CASE("Test ISR dispatch callbacks are not blocked even if TASK callbacks take more time", "[esp_timer][isr_dispatch]")
+{
+    esp_timer_handle_t task_timer_handle;
+    esp_timer_handle_t isr_timer_handle;
+
+    const esp_timer_create_args_t task_timer_args = {
+        .callback = &task_timer_cb,
+        .arg = NULL,
+        .dispatch_method = ESP_TIMER_TASK,
+        .name = "task_timer",
+        .skip_unhandled_events = true,
+    };
+
+    const esp_timer_create_args_t isr_timer_args = {
+        .callback = &isr_timer_cb,
+        .arg = NULL,
+        .dispatch_method = ESP_TIMER_ISR,
+        .name = "isr_timer",
+        .skip_unhandled_events = true,
+    };
+
+    ESP_ERROR_CHECK(esp_timer_create(&task_timer_args, &task_timer_handle));
+    ESP_ERROR_CHECK(esp_timer_create(&isr_timer_args, &isr_timer_handle));
+    ESP_ERROR_CHECK(esp_timer_start_periodic(task_timer_handle, period_task_ms * 1000));
+    task_t1 = esp_timer_get_time();
+    ESP_ERROR_CHECK(esp_timer_start_periodic(isr_timer_handle, period_isr_ms * 1000));
+    isr_t1 = esp_timer_get_time();
+
+    vTaskDelay(period_task_ms * 5 / portTICK_PERIOD_MS);
+
+    TEST_ESP_OK(esp_timer_stop(task_timer_handle));
+    TEST_ESP_OK(esp_timer_stop(isr_timer_handle));
+    TEST_ESP_OK(esp_timer_delete(task_timer_handle));
+    TEST_ESP_OK(esp_timer_delete(isr_timer_handle));
+}
+
 #endif // CONFIG_ESP_TIMER_SUPPORTS_ISR_DISPATCH_METHOD