diff --git a/block/blk-cgroup.c b/block/blk-cgroup.c
index af8a4d2d1fd1..3e03c0d13253 100644
--- a/block/blk-cgroup.c
+++ b/block/blk-cgroup.c
@@ -59,6 +59,37 @@ static struct workqueue_struct *blkcg_punt_bio_wq;
 
 #define BLKG_DESTROY_BATCH_SIZE  64
 
+/*
+ * Lockless lists for tracking IO stats update
+ *
+ * New IO stats are stored in the percpu iostat_cpu within blkcg_gq (blkg).
+ * There are multiple blkg's (one for each block device) attached to each
+ * blkcg. The rstat code keeps track of which cpu has IO stats updated,
+ * but it doesn't know which blkg has the updated stats. If there are many
+ * block devices in a system, the cost of iterating all the blkg's to flush
+ * out the IO stats can be high. To reduce such overhead, a set of percpu
+ * lockless lists (lhead) per blkcg are used to track the set of recently
+ * updated iostat_cpu's since the last flush. An iostat_cpu will be put
+ * onto the lockless list on the update side [blk_cgroup_bio_start()] if
+ * not there yet and then removed when being flushed [blkcg_rstat_flush()].
+ * References to blkg are gotten and then put back in the process to
+ * protect against blkg removal.
+ *
+ * Return: 0 if successful or -ENOMEM if allocation fails.
+ */
+static int init_blkcg_llists(struct blkcg *blkcg)
+{
+	int cpu;
+
+	blkcg->lhead = alloc_percpu_gfp(struct llist_head, GFP_KERNEL);
+	if (!blkcg->lhead)
+		return -ENOMEM;
+
+	for_each_possible_cpu(cpu)
+		init_llist_head(per_cpu_ptr(blkcg->lhead, cpu));
+	return 0;
+}
+
 /**
  * blkcg_css - find the current css
  *
@@ -236,8 +267,10 @@ static struct blkcg_gq *blkg_alloc(struct blkcg *blkcg, struct gendisk *disk,
 	blkg->blkcg = blkcg;
 
 	u64_stats_init(&blkg->iostat.sync);
-	for_each_possible_cpu(cpu)
+	for_each_possible_cpu(cpu) {
 		u64_stats_init(&per_cpu_ptr(blkg->iostat_cpu, cpu)->sync);
+		per_cpu_ptr(blkg->iostat_cpu, cpu)->blkg = blkg;
+	}
 
 	for (i = 0; i < BLKCG_MAX_POLS; i++) {
 		struct blkcg_policy *pol = blkcg_policy[i];
@@ -827,7 +860,9 @@ static void blkcg_iostat_update(struct blkcg_gq *blkg, struct blkg_iostat *cur,
 static void blkcg_rstat_flush(struct cgroup_subsys_state *css, int cpu)
 {
 	struct blkcg *blkcg = css_to_blkcg(css);
-	struct blkcg_gq *blkg;
+	struct llist_head *lhead = per_cpu_ptr(blkcg->lhead, cpu);
+	struct llist_node *lnode;
+	struct blkg_iostat_set *bisc, *next_bisc;
 
 	/* Root-level stats are sourced from system-wide IO stats */
 	if (!cgroup_parent(css->cgroup))
@@ -835,12 +870,21 @@ static void blkcg_rstat_flush(struct cgroup_subsys_state *css, int cpu)
 
 	rcu_read_lock();
 
-	hlist_for_each_entry_rcu(blkg, &blkcg->blkg_list, blkcg_node) {
+	lnode = llist_del_all(lhead);
+	if (!lnode)
+		goto out;
+
+	/*
+	 * Iterate only the iostat_cpu's queued in the lockless list.
+	 */
+	llist_for_each_entry_safe(bisc, next_bisc, lnode, lnode) {
+		struct blkcg_gq *blkg = bisc->blkg;
 		struct blkcg_gq *parent = blkg->parent;
-		struct blkg_iostat_set *bisc = per_cpu_ptr(blkg->iostat_cpu, cpu);
 		struct blkg_iostat cur;
 		unsigned int seq;
 
+		WRITE_ONCE(bisc->lqueued, false);
+
 		/* fetch the current per-cpu values */
 		do {
 			seq = u64_stats_fetch_begin(&bisc->sync);
@@ -853,8 +897,10 @@ static void blkcg_rstat_flush(struct cgroup_subsys_state *css, int cpu)
 		if (parent && parent->parent)
 			blkcg_iostat_update(parent, &blkg->iostat.cur,
 					    &blkg->iostat.last);
+		percpu_ref_put(&blkg->refcnt);
 	}
 
+out:
 	rcu_read_unlock();
 }
 
@@ -1132,6 +1178,7 @@ static void blkcg_css_free(struct cgroup_subsys_state *css)
 
 	mutex_unlock(&blkcg_pol_mutex);
 
+	free_percpu(blkcg->lhead);
 	kfree(blkcg);
 }
 
@@ -1151,6 +1198,9 @@ blkcg_css_alloc(struct cgroup_subsys_state *parent_css)
 			goto unlock;
 	}
 
+	if (init_blkcg_llists(blkcg))
+		goto free_blkcg;
+
 	for (i = 0; i < BLKCG_MAX_POLS ; i++) {
 		struct blkcg_policy *pol = blkcg_policy[i];
 		struct blkcg_policy_data *cpd;
@@ -1191,7 +1241,8 @@ blkcg_css_alloc(struct cgroup_subsys_state *parent_css)
 	for (i--; i >= 0; i--)
 		if (blkcg->cpd[i])
 			blkcg_policy[i]->cpd_free_fn(blkcg->cpd[i]);
-
+	free_percpu(blkcg->lhead);
+free_blkcg:
 	if (blkcg != &blkcg_root)
 		kfree(blkcg);
 unlock:
@@ -1939,6 +1990,7 @@ static int blk_cgroup_io_type(struct bio *bio)
 
 void blk_cgroup_bio_start(struct bio *bio)
 {
+	struct blkcg *blkcg = bio->bi_blkg->blkcg;
 	int rwd = blk_cgroup_io_type(bio), cpu;
 	struct blkg_iostat_set *bis;
 	unsigned long flags;
@@ -1957,9 +2009,21 @@ void blk_cgroup_bio_start(struct bio *bio)
 	}
 	bis->cur.ios[rwd]++;
 
+	/*
+	 * If the iostat_cpu isn't in a lockless list, put it into the
+	 * list to indicate that a stat update is pending.
+	 */
+	if (!READ_ONCE(bis->lqueued)) {
+		struct llist_head *lhead = this_cpu_ptr(blkcg->lhead);
+
+		llist_add(&bis->lnode, lhead);
+		WRITE_ONCE(bis->lqueued, true);
+		percpu_ref_get(&bis->blkg->refcnt);
+	}
+
 	u64_stats_update_end_irqrestore(&bis->sync, flags);
 	if (cgroup_subsys_on_dfl(io_cgrp_subsys))
-		cgroup_rstat_updated(bio->bi_blkg->blkcg->css.cgroup, cpu);
+		cgroup_rstat_updated(blkcg->css.cgroup, cpu);
 	put_cpu();
 }
 
diff --git a/block/blk-cgroup.h b/block/blk-cgroup.h
index aa2b286bc825..1e94e404eaa8 100644
--- a/block/blk-cgroup.h
+++ b/block/blk-cgroup.h
@@ -18,6 +18,7 @@
 #include <linux/cgroup.h>
 #include <linux/kthread.h>
 #include <linux/blk-mq.h>
+#include <linux/llist.h>
 
 struct blkcg_gq;
 struct blkg_policy_data;
@@ -43,6 +44,9 @@ struct blkg_iostat {
 
 struct blkg_iostat_set {
 	struct u64_stats_sync		sync;
+	struct blkcg_gq		       *blkg;
+	struct llist_node		lnode;
+	int				lqueued;	/* queued in llist */
 	struct blkg_iostat		cur;
 	struct blkg_iostat		last;
 };
@@ -97,6 +101,12 @@ struct blkcg {
 	struct blkcg_policy_data	*cpd[BLKCG_MAX_POLS];
 
 	struct list_head		all_blkcgs_node;
+
+	/*
+	 * List of updated percpu blkg_iostat_set's since the last flush.
+	 */
+	struct llist_head __percpu	*lhead;
+
 #ifdef CONFIG_BLK_CGROUP_FC_APPID
 	char                            fc_app_id[FC_APPID_LEN];
 #endif