diff --git a/libraries/exoplayer/src/main/java/androidx/media3/exoplayer/source/preload/PreloadMediaSource.java b/libraries/exoplayer/src/main/java/androidx/media3/exoplayer/source/preload/PreloadMediaSource.java
index d6065d37fe..ebc199900f 100644
--- a/libraries/exoplayer/src/main/java/androidx/media3/exoplayer/source/preload/PreloadMediaSource.java
+++ b/libraries/exoplayer/src/main/java/androidx/media3/exoplayer/source/preload/PreloadMediaSource.java
@@ -216,6 +216,7 @@ public final class PreloadMediaSource extends WrappingMediaSource {
   @Nullable private Timeline timeline;
   @Nullable private Pair<PreloadMediaPeriod, MediaPeriodKey> preloadingMediaPeriodAndKey;
   @Nullable private Pair<PreloadMediaPeriod, MediaPeriodId> playingPreloadedMediaPeriodAndId;
+  private boolean onSourcePreparedNotified;
   private boolean onUsedByPlayerNotified;
 
   private PreloadMediaSource(
@@ -250,6 +251,7 @@ public final class PreloadMediaSource extends WrappingMediaSource {
         () -> {
           preloadCalled = true;
           this.startPositionUs = startPositionUs;
+          onSourcePreparedNotified = false;
           if (isUsedByPlayer()) {
             notifyOnUsedByPlayer();
           } else {
@@ -291,7 +293,11 @@ public final class PreloadMediaSource extends WrappingMediaSource {
   protected void onChildSourceInfoRefreshed(Timeline newTimeline) {
     this.timeline = newTimeline;
     refreshSourceInfo(newTimeline);
-    if (isUsedByPlayer() || !preloadControl.onSourcePrepared(PreloadMediaSource.this)) {
+    if (isUsedByPlayer() || onSourcePreparedNotified) {
+      return;
+    }
+    onSourcePreparedNotified = true;
+    if (!preloadControl.onSourcePrepared(this)) {
       return;
     }
     Pair<Object, Long> periodPosition =
@@ -377,6 +383,7 @@ public final class PreloadMediaSource extends WrappingMediaSource {
         () -> {
           preloadCalled = false;
           startPositionUs = C.TIME_UNSET;
+          onSourcePreparedNotified = false;
           if (preloadingMediaPeriodAndKey != null) {
             mediaSource.releasePeriod(preloadingMediaPeriodAndKey.first.mediaPeriod);
             preloadingMediaPeriodAndKey = null;
@@ -397,10 +404,10 @@ public final class PreloadMediaSource extends WrappingMediaSource {
 
     @Override
     public void onPrepared(MediaPeriod mediaPeriod) {
+      prepared = true;
       if (isUsedByPlayer()) {
         return;
       }
-      prepared = true;
       PreloadMediaPeriod preloadMediaPeriod = (PreloadMediaPeriod) mediaPeriod;
       TrackGroupArray trackGroups = preloadMediaPeriod.getTrackGroups();
       @Nullable TrackSelectorResult trackSelectorResult = null;
diff --git a/libraries/exoplayer/src/test/java/androidx/media3/exoplayer/source/preload/PreloadMediaSourceTest.java b/libraries/exoplayer/src/test/java/androidx/media3/exoplayer/source/preload/PreloadMediaSourceTest.java
index f60a17f38c..990dd59c4c 100644
--- a/libraries/exoplayer/src/test/java/androidx/media3/exoplayer/source/preload/PreloadMediaSourceTest.java
+++ b/libraries/exoplayer/src/test/java/androidx/media3/exoplayer/source/preload/PreloadMediaSourceTest.java
@@ -72,6 +72,7 @@ import androidx.media3.test.utils.FakeVideoRenderer;
 import androidx.test.core.app.ApplicationProvider;
 import androidx.test.ext.junit.runners.AndroidJUnit4;
 import java.util.concurrent.atomic.AtomicBoolean;
+import java.util.concurrent.atomic.AtomicInteger;
 import java.util.concurrent.atomic.AtomicReference;
 import org.junit.Before;
 import org.junit.Test;
@@ -107,7 +108,7 @@ public final class PreloadMediaSourceTest {
 
   @Test
   public void preload_loadPeriodToTargetPreloadPosition() throws Exception {
-    AtomicBoolean onSourcePreparedCalled = new AtomicBoolean();
+    AtomicInteger onSourcePreparedCounter = new AtomicInteger();
     AtomicBoolean onTracksSelectedCalled = new AtomicBoolean();
     AtomicBoolean onContinueLoadingStopped = new AtomicBoolean();
     AtomicReference<PreloadMediaSource> preloadMediaSourceReference = new AtomicReference<>();
@@ -116,7 +117,7 @@ public final class PreloadMediaSourceTest {
         new PreloadMediaSource.PreloadControl() {
           @Override
           public boolean onSourcePrepared(PreloadMediaSource mediaSource) {
-            onSourcePreparedCalled.set(true);
+            onSourcePreparedCounter.addAndGet(1);
             return true;
           }
 
@@ -167,7 +168,7 @@ public final class PreloadMediaSourceTest {
     preloadMediaSource.preload(/* startPositionUs= */ 0L);
     runMainLooperUntil(onContinueLoadingStopped::get);
 
-    assertThat(onSourcePreparedCalled.get()).isTrue();
+    assertThat(onSourcePreparedCounter.get()).isEqualTo(1);
     assertThat(onTracksSelectedCalled.get()).isTrue();
     assertThat(onUsedByPlayerCalled.get()).isFalse();
     assertThat(preloadMediaSourceReference.get()).isSameInstanceAs(preloadMediaSource);
@@ -175,7 +176,7 @@ public final class PreloadMediaSourceTest {
 
   @Test
   public void preload_stopWhenTracksSelectedByPreloadControl() throws Exception {
-    AtomicBoolean onSourcePreparedCalled = new AtomicBoolean();
+    AtomicInteger onSourcePreparedCounter = new AtomicInteger();
     AtomicBoolean onTracksSelectedCalled = new AtomicBoolean();
     AtomicReference<PreloadMediaSource> preloadMediaSourceReference = new AtomicReference<>();
     AtomicBoolean onContinueLoadingRequestedCalled = new AtomicBoolean();
@@ -184,7 +185,7 @@ public final class PreloadMediaSourceTest {
         new PreloadMediaSource.PreloadControl() {
           @Override
           public boolean onSourcePrepared(PreloadMediaSource mediaSource) {
-            onSourcePreparedCalled.set(true);
+            onSourcePreparedCounter.addAndGet(1);
             return true;
           }
 
@@ -232,7 +233,7 @@ public final class PreloadMediaSourceTest {
     preloadMediaSource.preload(/* startPositionUs= */ 0L);
     runMainLooperUntil(onTracksSelectedCalled::get);
 
-    assertThat(onSourcePreparedCalled.get()).isTrue();
+    assertThat(onSourcePreparedCounter.get()).isEqualTo(1);
     assertThat(preloadMediaSourceReference.get()).isSameInstanceAs(preloadMediaSource);
     assertThat(onContinueLoadingRequestedCalled.get()).isFalse();
     assertThat(onUsedByPlayerCalled.get()).isFalse();
@@ -240,7 +241,7 @@ public final class PreloadMediaSourceTest {
 
   @Test
   public void preload_stopWhenSourcePreparedByPreloadControl() throws Exception {
-    AtomicBoolean onSourcePreparedCalled = new AtomicBoolean();
+    AtomicInteger onSourcePreparedCounter = new AtomicInteger();
     AtomicReference<PreloadMediaSource> preloadMediaSourceReference = new AtomicReference<>();
     AtomicBoolean onTracksSelectedCalled = new AtomicBoolean();
     AtomicBoolean onContinueLoadingRequestedCalled = new AtomicBoolean();
@@ -250,7 +251,7 @@ public final class PreloadMediaSourceTest {
           @Override
           public boolean onSourcePrepared(PreloadMediaSource mediaSource) {
             preloadMediaSourceReference.set(mediaSource);
-            onSourcePreparedCalled.set(true);
+            onSourcePreparedCounter.addAndGet(1);
             return false;
           }
 
@@ -294,9 +295,10 @@ public final class PreloadMediaSourceTest {
                 .build());
 
     preloadMediaSource.preload(/* startPositionUs= */ 0L);
-    runMainLooperUntil(onSourcePreparedCalled::get);
+    shadowOf(Looper.getMainLooper()).idle();
 
     assertThat(preloadMediaSourceReference.get()).isSameInstanceAs(preloadMediaSource);
+    assertThat(onSourcePreparedCounter.get()).isEqualTo(1);
     assertThat(onTracksSelectedCalled.get()).isFalse();
     assertThat(onContinueLoadingRequestedCalled.get()).isFalse();
     assertThat(onUsedByPlayerCalled.get()).isFalse();
@@ -366,7 +368,7 @@ public final class PreloadMediaSourceTest {
 
   @Test
   public void preload_loadToTheEndOfSource() throws Exception {
-    AtomicBoolean onSourcePreparedCalled = new AtomicBoolean();
+    AtomicInteger onSourcePreparedCounter = new AtomicInteger();
     AtomicBoolean onTracksSelectedCalled = new AtomicBoolean();
     AtomicBoolean onContinueLoadingRequestedCalled = new AtomicBoolean();
     AtomicBoolean onLoadedToTheEndOfSourceCalled = new AtomicBoolean();
@@ -375,7 +377,7 @@ public final class PreloadMediaSourceTest {
         new PreloadMediaSource.PreloadControl() {
           @Override
           public boolean onSourcePrepared(PreloadMediaSource mediaSource) {
-            onSourcePreparedCalled.set(true);
+            onSourcePreparedCounter.addAndGet(1);
             return true;
           }
 
@@ -432,7 +434,7 @@ public final class PreloadMediaSourceTest {
     preloadMediaSource.preload(/* startPositionUs= */ 0L);
     runMainLooperUntil(onLoadedToTheEndOfSourceCalled::get);
 
-    assertThat(onSourcePreparedCalled.get()).isTrue();
+    assertThat(onSourcePreparedCounter.get()).isEqualTo(1);
     assertThat(onTracksSelectedCalled.get()).isTrue();
     assertThat(onContinueLoadingRequestedCalled.get()).isTrue();
     assertThat(onUsedByPlayerCalled.get()).isFalse();