diff --git a/pcsx2/IopCounters.cpp b/pcsx2/IopCounters.cpp
index bcbca5468a..d29b8ea880 100644
--- a/pcsx2/IopCounters.cpp
+++ b/pcsx2/IopCounters.cpp
@@ -438,8 +438,6 @@ void psxRcntUpdate()
 {
 	int i;
 
-	psxRegs.iopNextEventCycle = psxRegs.cycle + 32;
-
 	psxNextCounter = 0x7fffffff;
 	psxNextsCounter = psxRegs.cycle;
 
diff --git a/pcsx2/R3000A.cpp b/pcsx2/R3000A.cpp
index 832b0e26e6..65678c7d06 100644
--- a/pcsx2/R3000A.cpp
+++ b/pcsx2/R3000A.cpp
@@ -42,6 +42,8 @@ u32 g_psxHasConstReg, g_psxFlushedConstReg;
 // is true, even if it's already running ahead a bit.
 bool iopEventAction = false;
 
+static constexpr uint iopWaitCycles = 384; // Keep inline with EE wait cycle max.
+
 bool iopEventTestIsActive = false;
 
 alignas(16) psxRegisters psxRegs;
@@ -140,13 +142,13 @@ __fi void PSX_INT( IopEventId n, s32 ecycle )
 
 	psxSetNextBranchDelta(ecycle);
 
-	if (psxRegs.iopCycleEE < 0)
+	const s32 iopDelta = (psxRegs.iopNextEventCycle - psxRegs.cycle) * 8;
+
+	if (psxRegs.iopCycleEE < iopDelta)
 	{
 		// The EE called this int, so inform it to branch as needed:
-		// fixme - this doesn't take into account EE/IOP sync (the IOP may be running
-		// ahead or behind the EE as per the EEsCycles value)
-		const s32 iopDelta = (psxRegs.iopNextEventCycle - psxRegs.cycle) * 8;
-		cpuSetNextEventDelta(iopDelta);
+		
+		cpuSetNextEventDelta(iopDelta - psxRegs.iopCycleEE);
 	}
 }
 
@@ -209,6 +211,8 @@ static __fi void _psxTestInterrupts()
 
 __ri void iopEventTest()
 {
+	psxRegs.iopNextEventCycle = psxRegs.cycle + iopWaitCycles;
+
 	if (psxTestCycle(psxNextsCounter, psxNextCounter))
 	{
 		psxRcntUpdate();
@@ -218,7 +222,8 @@ __ri void iopEventTest()
 	{
 		// start the next branch at the next counter event by default
 		// the interrupt code below will assign nearer branches if needed.
-		psxRegs.iopNextEventCycle = psxNextsCounter + psxNextCounter;
+		if (psxNextCounter < (psxRegs.iopNextEventCycle - psxNextsCounter))
+			psxRegs.iopNextEventCycle = psxNextsCounter + psxNextCounter;
 	}
 
 	if (psxRegs.interrupt)
diff --git a/pcsx2/R3000A.h b/pcsx2/R3000A.h
index f932bf2f2e..af4a3dc0e0 100644
--- a/pcsx2/R3000A.h
+++ b/pcsx2/R3000A.h
@@ -119,7 +119,7 @@ struct psxRegisters {
 	// cycles can be accounted for later.
 	s32 iopBreak;
 
-	// tracks the IOP's current sync status with the EE.  When it dips below zero,
+	// Tracks current number of cycles IOP can run in EE cycles. When it dips below zero,
 	// control is returned to the EE.
 	s32 iopCycleEE;
 
diff --git a/pcsx2/R5900.cpp b/pcsx2/R5900.cpp
index ed04ad308f..b046b75528 100644
--- a/pcsx2/R5900.cpp
+++ b/pcsx2/R5900.cpp
@@ -51,7 +51,7 @@ alignas(16) fpuRegisters fpuRegs;
 alignas(16) tlbs tlb[48];
 R5900cpu *Cpu = NULL;
 
-static const uint eeWaitCycles = 3072;
+static constexpr uint eeWaitCycles = 3072;
 
 bool eeEventTestIsActive = false;
 EE_intProcessStatus eeRunInterruptScan = INT_NOT_RUNNING;
@@ -453,7 +453,9 @@ __fi void _cpuEventTest_Shared()
 
 	// ---- Schedule Next Event Test --------------
 
-	if (EEsCycle > 192)
+	const int nextIopEventDeta = ((psxRegs.iopNextEventCycle - psxRegs.cycle) * 8);
+	// 8 or more cycles behind and there's an event scheduled
+	if (EEsCycle >= nextIopEventDeta)
 	{
 		// EE's running way ahead of the IOP still, so we should branch quickly to give the
 		// IOP extra timeslices in short order.
@@ -463,8 +465,7 @@ __fi void _cpuEventTest_Shared()
 	}
 	else
 	{
-		// The IOP could be running ahead/behind of us, so adjust the iop's next branch by its
-		// relative position to the EE (via EEsCycle)
+		// Otherwise IOP is caught up/not doing anything so we can wait for the next event.
 		cpuSetNextEventDelta(((psxRegs.iopNextEventCycle - psxRegs.cycle) * 8) - EEsCycle);
 	}