diff --git a/include/sys/fm/util.h b/include/sys/fm/util.h
index 94947d67c6..a3a8c3f869 100644
--- a/include/sys/fm/util.h
+++ b/include/sys/fm/util.h
@@ -96,7 +96,7 @@ extern void zfs_zevent_post(nvlist_t *, nvlist_t *, zevent_cb_t *);
 extern void zfs_zevent_drain_all(int *);
 extern int zfs_zevent_fd_hold(int, minor_t *, zfs_zevent_t **);
 extern void zfs_zevent_fd_rele(int);
-extern int zfs_zevent_next(zfs_zevent_t *, nvlist_t **, uint64_t *);
+extern int zfs_zevent_next(zfs_zevent_t *, nvlist_t **, uint64_t *, uint64_t *);
 extern int zfs_zevent_wait(zfs_zevent_t *);
 extern void zfs_zevent_init(zfs_zevent_t **);
 extern void zfs_zevent_destroy(zfs_zevent_t *);
diff --git a/module/zfs/fm.c b/module/zfs/fm.c
index 67d0c1a6e4..d409b2974a 100644
--- a/module/zfs/fm.c
+++ b/module/zfs/fm.c
@@ -568,13 +568,18 @@ zfs_zevent_fd_rele(int fd)
 }
 
 /*
- * Get the next zevent in the stream and place a copy in 'event'.
+ * Get the next zevent in the stream and place a copy in 'event'.  This
+ * may fail with ENOMEM if the encoded nvlist size exceeds the passed
+ * 'event_size'.  In this case the stream pointer is not advanced and
+ * and 'event_size' is set to the minimum required buffer size.
  */
 int
-zfs_zevent_next(zfs_zevent_t *ze, nvlist_t **event, uint64_t *dropped)
+zfs_zevent_next(zfs_zevent_t *ze, nvlist_t **event, uint64_t *event_size,
+                uint64_t *dropped)
 {
 	zevent_t *ev;
-	int error;
+	size_t size;
+	int error = 0;
 
 	mutex_enter(&zevent_lock);
 	if (ze->ze_zevent == NULL) {
@@ -592,10 +597,18 @@ zfs_zevent_next(zfs_zevent_t *ze, nvlist_t **event, uint64_t *dropped)
 			error = ENOENT;
 			goto out;
 		}
-
-		list_remove(&ze->ze_zevent->ev_ze_list, ze);
 	}
 
+	VERIFY(nvlist_size(ev->ev_nvl, &size, NV_ENCODE_NATIVE) == 0);
+	if (size > *event_size) {
+		*event_size = size;
+		error = ENOMEM;
+		goto out;
+	}
+
+	if (ze->ze_zevent)
+		list_remove(&ze->ze_zevent->ev_ze_list, ze);
+
 	ze->ze_zevent = ev;
 	list_insert_head(&ev->ev_ze_list, ze);
 	nvlist_dup(ev->ev_nvl, event, KM_SLEEP);
diff --git a/module/zfs/zfs_ioctl.c b/module/zfs/zfs_ioctl.c
index cc5e66f9a0..45e118e537 100644
--- a/module/zfs/zfs_ioctl.c
+++ b/module/zfs/zfs_ioctl.c
@@ -4741,11 +4741,12 @@ zfs_ioc_events_next(zfs_cmd_t *zc)
 		return (error);
 
 	do {
-		error = zfs_zevent_next(ze, &event, &dropped);
+		error = zfs_zevent_next(ze, &event,
+			&zc->zc_nvlist_dst_size, &dropped);
 		if (event != NULL) {
 			zc->zc_cookie = dropped;
 			error = put_nvlist(zc, event);
-		        nvlist_free(event);
+			nvlist_free(event);
 		}
 
 		if (zc->zc_guid & ZEVENT_NONBLOCK)