diff --git a/tools/fuzz/libelf/libelf-fuzzer.c b/tools/fuzz/libelf/libelf-fuzzer.c
index 1ba8571711..84fb84720f 100644
--- a/tools/fuzz/libelf/libelf-fuzzer.c
+++ b/tools/fuzz/libelf/libelf-fuzzer.c
@@ -17,7 +17,8 @@ int LLVMFuzzerTestOneInput(const uint8_t *data, size_t size)
         return -1;
 
     elf_parse_binary(elf);
-    elf_xen_parse(elf, &parms);
+    elf_xen_parse(elf, &parms, false);
+    elf_xen_parse(elf, &parms, true);
 
     return 0;
 }
diff --git a/tools/libs/guest/xg_dom_elfloader.c b/tools/libs/guest/xg_dom_elfloader.c
index 0d6247db5d..f17930d98b 100644
--- a/tools/libs/guest/xg_dom_elfloader.c
+++ b/tools/libs/guest/xg_dom_elfloader.c
@@ -135,7 +135,8 @@ static elf_negerrnoval xc_dom_probe_elf_kernel(struct xc_dom_image *dom)
      * or else we might be trying to load a plain ELF.
      */
     elf_parse_binary(&elf);
-    rc = elf_xen_parse(&elf, dom->parms);
+    rc = elf_xen_parse(&elf, dom->parms,
+                       dom->container_type == XC_DOM_HVM_CONTAINER);
     if ( rc != 0 )
         return rc;
 
@@ -166,7 +167,8 @@ static elf_negerrnoval xc_dom_parse_elf_kernel(struct xc_dom_image *dom)
 
     /* parse binary and get xen meta info */
     elf_parse_binary(elf);
-    if ( elf_xen_parse(elf, dom->parms) != 0 )
+    if ( elf_xen_parse(elf, dom->parms,
+                       dom->container_type == XC_DOM_HVM_CONTAINER) != 0 )
     {
         rc = -EINVAL;
         goto out;
diff --git a/tools/libs/guest/xg_dom_hvmloader.c b/tools/libs/guest/xg_dom_hvmloader.c
index 4e6f30858a..ae50d98011 100644
--- a/tools/libs/guest/xg_dom_hvmloader.c
+++ b/tools/libs/guest/xg_dom_hvmloader.c
@@ -73,7 +73,7 @@ static elf_negerrnoval xc_dom_probe_hvm_kernel(struct xc_dom_image *dom)
      * else we might be trying to load a PV kernel.
      */
     elf_parse_binary(&elf);
-    rc = elf_xen_parse(&elf, dom->parms);
+    rc = elf_xen_parse(&elf, dom->parms, true);
     if ( rc == 0 )
         return -EINVAL;
 
diff --git a/xen/arch/x86/hvm/dom0_build.c b/xen/arch/x86/hvm/dom0_build.c
index 878dc1d808..c24b9efdb0 100644
--- a/xen/arch/x86/hvm/dom0_build.c
+++ b/xen/arch/x86/hvm/dom0_build.c
@@ -561,7 +561,7 @@ static int __init pvh_load_kernel(struct domain *d, const module_t *image,
     elf_set_verbose(&elf);
 #endif
     elf_parse_binary(&elf);
-    if ( (rc = elf_xen_parse(&elf, &parms)) != 0 )
+    if ( (rc = elf_xen_parse(&elf, &parms, true)) != 0 )
     {
         printk("Unable to parse kernel for ELFNOTES\n");
         return rc;
diff --git a/xen/arch/x86/pv/dom0_build.c b/xen/arch/x86/pv/dom0_build.c
index e0801a9e6d..af47615b22 100644
--- a/xen/arch/x86/pv/dom0_build.c
+++ b/xen/arch/x86/pv/dom0_build.c
@@ -353,7 +353,7 @@ int __init dom0_construct_pv(struct domain *d,
         elf_set_verbose(&elf);
 
     elf_parse_binary(&elf);
-    if ( (rc = elf_xen_parse(&elf, &parms)) != 0 )
+    if ( (rc = elf_xen_parse(&elf, &parms, false)) != 0 )
         goto out;
 
     /* compatibility check */
diff --git a/xen/common/libelf/libelf-dominfo.c b/xen/common/libelf/libelf-dominfo.c
index 69c94b6f3b..bd295a9b7e 100644
--- a/xen/common/libelf/libelf-dominfo.c
+++ b/xen/common/libelf/libelf-dominfo.c
@@ -499,7 +499,7 @@ static elf_errorstatus elf_xen_addr_calc_check(struct elf_binary *elf,
 /* glue it all together ...                                                 */
 
 elf_errorstatus elf_xen_parse(struct elf_binary *elf,
-                  struct elf_dom_parms *parms)
+                  struct elf_dom_parms *parms, bool hvm)
 {
     ELF_HANDLE_DECL(elf_shdr) shdr;
     ELF_HANDLE_DECL(elf_phdr) phdr;
@@ -577,10 +577,8 @@ elf_errorstatus elf_xen_parse(struct elf_binary *elf,
 
     }
 
-    /*
-     * Finally fall back to the __xen_guest section.
-     */
-    if ( xen_elfnotes == 0 )
+    /* Finally fall back to the __xen_guest section for PV guests only. */
+    if ( xen_elfnotes == 0 && !hvm )
     {
         shdr = elf_shdr_by_name(elf, "__xen_guest");
         if ( ELF_HANDLE_VALID(shdr) )
diff --git a/xen/include/xen/libelf.h b/xen/include/xen/libelf.h
index b73998150f..be47b0cc36 100644
--- a/xen/include/xen/libelf.h
+++ b/xen/include/xen/libelf.h
@@ -454,7 +454,7 @@ int elf_xen_parse_note(struct elf_binary *elf,
 int elf_xen_parse_guest_info(struct elf_binary *elf,
                              struct elf_dom_parms *parms);
 int elf_xen_parse(struct elf_binary *elf,
-                  struct elf_dom_parms *parms);
+                  struct elf_dom_parms *parms, bool hvm);
 
 static inline void *elf_memcpy_unchecked(void *dest, const void *src, size_t n)
     { return memcpy(dest, src, n); }