diff --git a/man/man5/zfs-module-parameters.5 b/man/man5/zfs-module-parameters.5
index 3fbd3c67f8..c2abd9d805 100644
--- a/man/man5/zfs-module-parameters.5
+++ b/man/man5/zfs-module-parameters.5
@@ -32,13 +32,12 @@ Description of the different parameters to the ZFS module.
 \fBdbuf_cache_max_bytes\fR (ulong)
 .ad
 .RS 12n
-Maximum size in bytes of the dbuf cache.  When \fB0\fR this value will default
-to \fB1/2^dbuf_cache_shift\fR (1/32) of the target ARC size, otherwise the
-provided value in bytes will be used.  The behavior of the dbuf cache and its
-associated settings can be observed via the \fB/proc/spl/kstat/zfs/dbufstats\fR
-kstat.
+Maximum size in bytes of the dbuf cache.  The target size is determined by the
+MIN versus \fB1/2^dbuf_cache_shift\fR (1/32) of the target ARC size.  The
+behavior of the dbuf cache and its associated settings can be observed via the
+\fB/proc/spl/kstat/zfs/dbufstats\fR kstat.
 .sp
-Default value: \fB0\fR.
+Default value: \fBULONG_MAX\fR.
 .RE
 
 .sp
@@ -47,13 +46,12 @@ Default value: \fB0\fR.
 \fBdbuf_metadata_cache_max_bytes\fR (ulong)
 .ad
 .RS 12n
-Maximum size in bytes of the metadata dbuf cache.  When \fB0\fR this value will
-default to \fB1/2^dbuf_cache_shift\fR (1/16) of the target ARC size, otherwise
-the provided value in bytes will be used.  The behavior of the metadata dbuf
-cache and its associated settings can be observed via the
-\fB/proc/spl/kstat/zfs/dbufstats\fR kstat.
+Maximum size in bytes of the metadata dbuf cache.  The target size is
+determined by the MIN versus \fB1/2^dbuf_metadata_cache_shift\fR (1/64) of the
+target ARC size.  The behavior of the metadata dbuf cache and its associated
+settings can be observed via the \fB/proc/spl/kstat/zfs/dbufstats\fR kstat.
 .sp
-Default value: \fB0\fR.
+Default value: \fBULONG_MAX\fR.
 .RE
 
 .sp
diff --git a/module/zfs/dbuf.c b/module/zfs/dbuf.c
index 207d594396..aa44cc31e1 100644
--- a/module/zfs/dbuf.c
+++ b/module/zfs/dbuf.c
@@ -207,12 +207,16 @@ typedef struct dbuf_cache {
 dbuf_cache_t dbuf_caches[DB_CACHE_MAX];
 
 /* Size limits for the caches */
-unsigned long dbuf_cache_max_bytes = 0;
-unsigned long dbuf_metadata_cache_max_bytes = 0;
+unsigned long dbuf_cache_max_bytes = ULONG_MAX;
+unsigned long dbuf_metadata_cache_max_bytes = ULONG_MAX;
+
 /* Set the default sizes of the caches to log2 fraction of arc size */
 int dbuf_cache_shift = 5;
 int dbuf_metadata_cache_shift = 6;
 
+static unsigned long dbuf_cache_target_bytes(void);
+static unsigned long dbuf_metadata_cache_target_bytes(void);
+
 /*
  * The LRU dbuf cache uses a three-stage eviction policy:
  *	- A low water marker designates when the dbuf eviction thread
@@ -432,7 +436,7 @@ dbuf_include_in_metadata_cache(dmu_buf_impl_t *db)
 		 */
 		if (zfs_refcount_count(
 		    &dbuf_caches[DB_DBUF_METADATA_CACHE].size) >
-		    dbuf_metadata_cache_max_bytes) {
+		    dbuf_metadata_cache_target_bytes()) {
 			DBUF_STAT_BUMP(metadata_cache_overflow);
 			return (B_FALSE);
 		}
@@ -610,11 +614,26 @@ dbuf_cache_multilist_index_func(multilist_t *ml, void *obj)
 	    multilist_get_num_sublists(ml));
 }
 
+/*
+ * The target size of the dbuf cache can grow with the ARC target,
+ * unless limited by the tunable dbuf_cache_max_bytes.
+ */
 static inline unsigned long
 dbuf_cache_target_bytes(void)
 {
-	return MIN(dbuf_cache_max_bytes,
-	    arc_target_bytes() >> dbuf_cache_shift);
+	return (MIN(dbuf_cache_max_bytes,
+	    arc_target_bytes() >> dbuf_cache_shift));
+}
+
+/*
+ * The target size of the dbuf metadata cache can grow with the ARC target,
+ * unless limited by the tunable dbuf_metadata_cache_max_bytes.
+ */
+static inline unsigned long
+dbuf_metadata_cache_target_bytes(void)
+{
+	return (MIN(dbuf_metadata_cache_max_bytes,
+	    arc_target_bytes() >> dbuf_metadata_cache_shift));
 }
 
 static inline uint64_t
@@ -805,23 +824,6 @@ retry:
 
 	dbuf_stats_init(h);
 
-	/*
-	 * Setup the parameters for the dbuf caches. We set the sizes of the
-	 * dbuf cache and the metadata cache to 1/32nd and 1/16th (default)
-	 * of the target size of the ARC. If the values has been specified as
-	 * a module option and they're not greater than the target size of the
-	 * ARC, then we honor that value.
-	 */
-	if (dbuf_cache_max_bytes == 0 ||
-	    dbuf_cache_max_bytes >= arc_target_bytes()) {
-		dbuf_cache_max_bytes = arc_target_bytes() >> dbuf_cache_shift;
-	}
-	if (dbuf_metadata_cache_max_bytes == 0 ||
-	    dbuf_metadata_cache_max_bytes >= arc_target_bytes()) {
-		dbuf_metadata_cache_max_bytes =
-		    arc_target_bytes() >> dbuf_metadata_cache_shift;
-	}
-
 	/*
 	 * All entries are queued via taskq_dispatch_ent(), so min/maxalloc
 	 * configuration is not required.