diff --git a/include/zephyr/net/wifi_mgmt.h b/include/zephyr/net/wifi_mgmt.h
index 2195b685a0e5c..bc23c3b93c5f9 100644
--- a/include/zephyr/net/wifi_mgmt.h
+++ b/include/zephyr/net/wifi_mgmt.h
@@ -671,8 +671,8 @@ struct wifi_iface_status {
 	unsigned short beacon_interval;
 	/** is TWT capable? */
 	bool twt_capable;
-	/** The current 802.11 PHY data rate */
-	int current_phy_rate;
+	/** The current 802.11 PHY TX data rate (in Kbps) */
+	int current_phy_tx_rate;
 };
 
 /** @brief Wi-Fi power save parameters */
diff --git a/modules/hostap/src/supp_api.c b/modules/hostap/src/supp_api.c
index 13155af5cf3b2..6ca77e7cf3c26 100644
--- a/modules/hostap/src/supp_api.c
+++ b/modules/hostap/src/supp_api.c
@@ -1538,8 +1538,10 @@ int supplicant_status(const struct device *dev, struct wifi_iface_status *status
 			ret = z_wpa_ctrl_signal_poll(&signal_poll);
 			if (!ret) {
 				status->rssi = signal_poll.rssi;
+				status->current_phy_tx_rate = signal_poll.current_txrate;
 			} else {
-				wpa_printf(MSG_WARNING, "%s:Failed to read RSSI", __func__);
+				wpa_printf(MSG_WARNING, "%s: Failed to read signal poll info",
+						   __func__);
 			}
 		}
 
@@ -1567,15 +1569,6 @@ int supplicant_status(const struct device *dev, struct wifi_iface_status *status
 		}
 
 		os_free(conn_info);
-
-		ret = wpa_drv_signal_poll(wpa_s, si);
-		if (!ret) {
-			status->current_phy_rate = si->current_txrate;
-		} else {
-			wpa_printf(MSG_WARNING, "%s: Failed to get signal info\n", __func__);
-			status->current_phy_rate = 0;
-			ret = 0;
-		}
 	} else {
 		ret = 0;
 	}
diff --git a/subsys/net/l2/wifi/wifi_shell.c b/subsys/net/l2/wifi/wifi_shell.c
index fac7a354e86e4..354e5e626cba0 100644
--- a/subsys/net/l2/wifi/wifi_shell.c
+++ b/subsys/net/l2/wifi/wifi_shell.c
@@ -1113,7 +1113,9 @@ static int cmd_wifi_status(const struct shell *sh, size_t argc, char *argv[])
 		PR("DTIM: %d\n", status.dtim_period);
 		PR("TWT: %s\n",
 		   status.twt_capable ? "Supported" : "Not supported");
-		PR("Current PHY rate : %d\n", status.current_phy_rate);
+		PR("Current PHY TX rate (Mbps) : %d.%03d\n",
+		   status.current_phy_tx_rate / 1000,
+		   status.current_phy_tx_rate % 1000);
 	}
 
 	return 0;