diff --git a/net/vmw_vsock/af_vsock.c b/net/vmw_vsock/af_vsock.c
index 52350a578f059..208cc256b4076 100644
--- a/net/vmw_vsock/af_vsock.c
+++ b/net/vmw_vsock/af_vsock.c
@@ -393,6 +393,8 @@ EXPORT_SYMBOL_GPL(vsock_enqueue_accept);
 
 static bool vsock_use_local_transport(unsigned int remote_cid)
 {
+	lockdep_assert_held(&vsock_register_mutex);
+
 	if (!transport_local)
 		return false;
 
@@ -450,6 +452,8 @@ int vsock_assign_transport(struct vsock_sock *vsk, struct vsock_sock *psk)
 
 	remote_flags = vsk->remote_addr.svm_flags;
 
+	mutex_lock(&vsock_register_mutex);
+
 	switch (sk->sk_type) {
 	case SOCK_DGRAM:
 		new_transport = transport_dgram;
@@ -464,13 +468,30 @@ int vsock_assign_transport(struct vsock_sock *vsk, struct vsock_sock *psk)
 			new_transport = transport_h2g;
 		break;
 	default:
-		return -ESOCKTNOSUPPORT;
+		ret = -ESOCKTNOSUPPORT;
+		goto err;
 	}
 
-	if (vsk->transport) {
-		if (vsk->transport == new_transport)
-			return 0;
+	if (vsk->transport && vsk->transport == new_transport) {
+		ret = 0;
+		goto err;
+	}
+
+	/* We increase the module refcnt to prevent the transport unloading
+	 * while there are open sockets assigned to it.
+	 */
+	if (!new_transport || !try_module_get(new_transport->module)) {
+		ret = -ENODEV;
+		goto err;
+	}
+
+	/* It's safe to release the mutex after a successful try_module_get().
+	 * Whichever transport `new_transport` points at, it won't go away until
+	 * the last module_put() below or in vsock_deassign_transport().
+	 */
+	mutex_unlock(&vsock_register_mutex);
 
+	if (vsk->transport) {
 		/* transport->release() must be called with sock lock acquired.
 		 * This path can only be taken during vsock_stream_connect(),
 		 * where we have already held the sock lock.
@@ -479,13 +500,16 @@ int vsock_assign_transport(struct vsock_sock *vsk, struct vsock_sock *psk)
 		 */
 		vsk->transport->release(vsk);
 		vsock_deassign_transport(vsk);
-	}
 
-	/* We increase the module refcnt to prevent the transport unloading
-	 * while there are open sockets assigned to it.
-	 */
-	if (!new_transport || !try_module_get(new_transport->module))
-		return -ENODEV;
+		/* transport's release() and destruct() can touch some socket
+		 * state, since we are reassigning the socket to a new transport
+		 * during vsock_connect(), let's reset these fields to have a
+		 * clean state.
+		 */
+		sock_reset_flag(sk, SOCK_DONE);
+		sk->sk_state = TCP_CLOSE;
+		vsk->peer_shutdown = 0;
+	}
 
 	ret = new_transport->init(vsk, psk);
 	if (ret) {
@@ -496,6 +520,9 @@ int vsock_assign_transport(struct vsock_sock *vsk, struct vsock_sock *psk)
 	vsk->transport = new_transport;
 
 	return 0;
+err:
+	mutex_unlock(&vsock_register_mutex);
+	return ret;
 }
 EXPORT_SYMBOL_GPL(vsock_assign_transport);