diff --git a/storage/innobase/buf/buf0buf.cc b/storage/innobase/buf/buf0buf.cc
index f2f443dd4b0..113da7746fa 100644
--- a/storage/innobase/buf/buf0buf.cc
+++ b/storage/innobase/buf/buf0buf.cc
@@ -2393,14 +2393,10 @@ retry:
     w->id_= id;
 
     *hash_lock= page_hash.lock_get(fold);
-    (*hash_lock)->write_lock();
-    mysql_mutex_unlock(&mutex);
 
     buf_page_t *bpage= page_hash_get_low(id, fold);
     if (UNIV_LIKELY_NULL(bpage))
     {
-      (*hash_lock)->write_unlock();
-      mysql_mutex_lock(&mutex);
       w->set_state(BUF_BLOCK_NOT_USED);
       *hash_lock= page_hash.lock_get(fold);
       (*hash_lock)->write_lock();
@@ -2408,11 +2404,13 @@ retry:
       goto retry;
     }
 
+    (*hash_lock)->write_lock();
     ut_ad(!w->buf_fix_count_);
     w->buf_fix_count_= 1;
     ut_ad(!w->in_page_hash);
-    ut_d(w->in_page_hash= true); /* Not holding buf_pool.mutex here! */
+    ut_d(w->in_page_hash= true);
     HASH_INSERT(buf_page_t, hash, &page_hash, fold, w);
+    mysql_mutex_unlock(&mutex);
     return nullptr;
   }
 
@@ -2421,6 +2419,48 @@ retry:
   return nullptr;
 }
 
+/** Stop watching whether a page has been read in.
+watch_set(id) must have returned nullptr before.
+@param id   page identifier */
+void buf_pool_t::watch_unset(const page_id_t id)
+{
+  mysql_mutex_assert_not_owner(&mutex);
+  const ulint fold= id.fold();
+  page_hash_latch *hash_lock= page_hash.lock<true>(fold);
+  /* The page must exist because watch_set() increments buf_fix_count. */
+  buf_page_t *w= page_hash_get_low(id, fold);
+  const auto buf_fix_count= w->buf_fix_count();
+  ut_ad(buf_fix_count);
+  const bool must_remove= buf_fix_count == 1 && watch_is_sentinel(*w);
+  ut_ad(w->in_page_hash);
+  if (!must_remove)
+    w->unfix();
+  hash_lock->write_unlock();
+
+  if (must_remove)
+  {
+    const auto old= w;
+    /* The following is based on buf_pool_t::watch_remove(). */
+    mysql_mutex_lock(&mutex);
+    w= page_hash_get_low(id, fold);
+    page_hash_latch *hash_lock= buf_pool.page_hash.lock_get(fold);
+    hash_lock->write_lock();
+    if (w->unfix() == 0 && w == old)
+    {
+      ut_ad(w->in_page_hash);
+      ut_d(w->in_page_hash= false);
+      HASH_DELETE(buf_page_t, hash, &page_hash, fold, w);
+      // Now that the watch is detached from page_hash, release it to watch[].
+      ut_ad(w->id_ == id);
+      ut_ad(!w->buf_fix_count());
+      ut_ad(w->state() == BUF_BLOCK_ZIP_PAGE);
+      w->set_state(BUF_BLOCK_NOT_USED);
+    }
+    hash_lock->write_unlock();
+    mysql_mutex_unlock(&mutex);
+  }
+}
+
 /** Mark the page status as FREED for the given tablespace id and
 page number. If the page is not in buffer pool then ignore it.
 @param[in,out]	space	tablespace
diff --git a/storage/innobase/buf/buf0rea.cc b/storage/innobase/buf/buf0rea.cc
index 2303ef625e7..7bc16f4918f 100644
--- a/storage/innobase/buf/buf0rea.cc
+++ b/storage/innobase/buf/buf0rea.cc
@@ -53,6 +53,7 @@ that the block has been replaced with the real block.
 @param watch   sentinel */
 inline void buf_pool_t::watch_remove(buf_page_t *watch)
 {
+  mysql_mutex_assert_owner(&buf_pool.mutex);
   ut_ad(hash_lock_get(watch->id())->is_write_locked());
   ut_a(watch_is_sentinel(*watch));
   if (watch->buf_fix_count())
@@ -123,16 +124,10 @@ static buf_page_t* buf_page_init_for_read(ulint mode, const page_id_t page_id,
 
   mysql_mutex_lock(&buf_pool.mutex);
 
-  /* We must acquire hash_lock this early to prevent
-  a race condition with buf_pool_t::watch_remove() */
-  page_hash_latch *hash_lock= buf_pool.page_hash.lock_get(fold);
-  hash_lock->write_lock();
-
   buf_page_t *hash_page= buf_pool.page_hash_get_low(page_id, fold);
   if (hash_page && !buf_pool.watch_is_sentinel(*hash_page))
   {
     /* The page is already in the buffer pool. */
-    hash_lock->write_unlock();
     if (block)
     {
       rw_lock_x_unlock_gen(&block->lock, BUF_IO_READ);
@@ -146,6 +141,9 @@ static buf_page_t* buf_page_init_for_read(ulint mode, const page_id_t page_id,
     bpage= &block->page;
 
     /* Insert into the hash table of file pages */
+    page_hash_latch *hash_lock= buf_pool.page_hash.lock_get(fold);
+    hash_lock->write_lock();
+
     if (hash_page)
     {
       /* Preserve the reference count. */
@@ -184,8 +182,6 @@ static buf_page_t* buf_page_init_for_read(ulint mode, const page_id_t page_id,
   }
   else
   {
-    hash_lock->write_unlock();
-
     /* The compressed page must be allocated before the
     control block (bpage), in order to avoid the
     invocation of buf_buddy_relocate_block() on
@@ -193,8 +189,6 @@ static buf_page_t* buf_page_init_for_read(ulint mode, const page_id_t page_id,
     bool lru= false;
     void *data= buf_buddy_alloc(zip_size, &lru);
 
-    hash_lock->write_lock();
-
     /* If buf_buddy_alloc() allocated storage from the LRU list,
     it released and reacquired buf_pool.mutex.  Thus, we must
     check the page_hash again, as it may have been modified. */
@@ -205,7 +199,6 @@ static buf_page_t* buf_page_init_for_read(ulint mode, const page_id_t page_id,
       if (UNIV_UNLIKELY(hash_page && !buf_pool.watch_is_sentinel(*hash_page)))
       {
         /* The block was added by some other thread. */
-        hash_lock->write_unlock();
         buf_buddy_free(data, zip_size);
         goto func_exit;
       }
@@ -219,6 +212,9 @@ static buf_page_t* buf_page_init_for_read(ulint mode, const page_id_t page_id,
 
     bpage->init(BUF_BLOCK_ZIP_PAGE, page_id);
 
+    page_hash_latch *hash_lock= buf_pool.page_hash.lock_get(fold);
+    hash_lock->write_lock();
+
     if (hash_page)
     {
       /* Preserve the reference count. It can be 0 if
diff --git a/storage/innobase/include/buf0buf.h b/storage/innobase/include/buf0buf.h
index 5a118df48e1..d1928196989 100644
--- a/storage/innobase/include/buf0buf.h
+++ b/storage/innobase/include/buf0buf.h
@@ -1739,33 +1739,7 @@ public:
   /** Stop watching whether a page has been read in.
   watch_set(id) must have returned nullptr before.
   @param id   page identifier */
-  void watch_unset(const page_id_t id)
-  {
-    const ulint fold= id.fold();
-    page_hash_latch *hash_lock= page_hash.lock<true>(fold);
-    /* The page must exist because watch_set() increments buf_fix_count. */
-    buf_page_t *watch= page_hash_get_low(id, fold);
-    if (watch->unfix() == 0 && watch_is_sentinel(*watch))
-    {
-      /* The following is based on watch_remove(). */
-      ut_ad(watch->in_page_hash);
-      ut_d(watch->in_page_hash= false);
-      HASH_DELETE(buf_page_t, hash, &page_hash, fold, watch);
-      hash_lock->write_unlock();
-      // Now that the watch is detached from page_hash, release it to watch[].
-      mysql_mutex_lock(&mutex);
-      /* It is possible that watch_remove() already removed the watch. */
-      if (watch->id_ == id)
-      {
-        ut_ad(!watch->buf_fix_count());
-        ut_ad(watch->state() == BUF_BLOCK_ZIP_PAGE);
-        watch->set_state(BUF_BLOCK_NOT_USED);
-      }
-      mysql_mutex_unlock(&mutex);
-    }
-    else
-      hash_lock->write_unlock();
-  }
+  void watch_unset(const page_id_t id);
 
   /** Remove the sentinel block for the watch before replacing it with a
   real block. watch_unset() or watch_occurred() will notice