diff --git a/packages/devtools-evm-hardhat/src/tasks/deploy.ts b/packages/devtools-evm-hardhat/src/tasks/deploy.ts
index d45c83843a..9e7b6847dd 100644
--- a/packages/devtools-evm-hardhat/src/tasks/deploy.ts
+++ b/packages/devtools-evm-hardhat/src/tasks/deploy.ts
@@ -261,6 +261,25 @@ const action: ActionType<TaskArgs> = async (
         error == null ? [] : [{ networkName, error }]
     )
 
+    // We count the total number of contracts that were deployed across all networks
+    const totalDeployedContracts = Object.values(results).reduce(
+        (acc, { contracts }) => acc + (contracts ? Object.keys(contracts).length : 0),
+        0
+    )
+
+    // If tags were specified but no contracts were deployed, warn the user
+    // This could happen if the tag doesn't match any deploy scripts, or if all matching contracts are already deployed
+    if (selectedTags.length > 0 && totalDeployedContracts === 0 && errors.length === 0) {
+        logger.warn(
+            `${printBoolean(false)} No contracts were deployed. This could mean no deploy scripts matched the given ${pluralizeNoun(selectedTags.length, 'tag', 'tags')} (${selectedTags.join(', ')}), or the contracts are already deployed`
+        )
+
+        // Mark the process as unsuccessful
+        process.exitCode = process.exitCode || 1
+
+        return results
+    }
+
     // If nothing went wrong we just exit
     if (errors.length === 0) {
         return logger.info(`${printBoolean(true)} Your contracts are now deployed`), results
diff --git a/tests/devtools-evm-hardhat-test/test/task/deploy.test.expectations/deploy-all-missing-tag.exp b/tests/devtools-evm-hardhat-test/test/task/deploy.test.expectations/deploy-all-missing-tag.exp
index fb6a053772..ff29e72e1a 100755
--- a/tests/devtools-evm-hardhat-test/test/task/deploy.test.expectations/deploy-all-missing-tag.exp
+++ b/tests/devtools-evm-hardhat-test/test/task/deploy.test.expectations/deploy-all-missing-tag.exp
@@ -44,6 +44,6 @@ expect "Do you want to continue?"
 send -- "\r"
 
 expect "Deploying..."
-expect "Your contracts are now deployed"
+expect "No contracts were deployed"
 
 expect eof