diff --git a/pcsx2/SPU2/Mixer.cpp b/pcsx2/SPU2/Mixer.cpp
index d3663df51c..b88c7324de 100644
--- a/pcsx2/SPU2/Mixer.cpp
+++ b/pcsx2/SPU2/Mixer.cpp
@@ -661,6 +661,11 @@ __forceinline
 		Out.Right = ApplyVolume(Out.Right, Cores[1].MasterVol.Right.Value);
 	}
 
+	// For a long time PCSX2 has had its output volume halved by
+	// an incorrect function for applying the master volume above.
+	//
+	// Adjust volume here so it matches what people have come to expect.
+	Out = ApplyVolume(Out, {0x4fff, 0x4fff});
 	Out = DCFilter(Out);
 
 	// Final clamp, take care not to exceed 16 bits from here on