diff --git a/drivers/timer/nrf_rtc_timer.c b/drivers/timer/nrf_rtc_timer.c
index 1b19e293388..ff5b55585fe 100644
--- a/drivers/timer/nrf_rtc_timer.c
+++ b/drivers/timer/nrf_rtc_timer.c
@@ -236,9 +236,20 @@ uint64_t z_nrf_rtc_timer_get_ticks(k_timeout_t t)
  * @param[in] chan A channel for which a new CC value is to be set.
  *
  * @param[in] req_cc Requested CC register value to be set.
+ *
+ * @param[in] exact Use @c false to allow CC adjustment if @c req_cc value is
+ *                  close to the current value of the timer.
+ *                  Use @c true to disallow CC adjustment. The function can
+ *                  fail with -EINVAL result if @p req_cc is too close to the
+ *                  current value.
+ *
+ * @retval 0 The requested CC has been set successfully.
+ * @retval -EINVAL The requested CC value could not be reliably set.
  */
-static void set_alarm(int32_t chan, uint32_t req_cc)
+static int set_alarm(int32_t chan, uint32_t req_cc, bool exact)
 {
+	int ret = 0;
+
 	/* Ensure that the value exposed in this driver API is consistent with
 	 * assumptions of this function.
 	 */
@@ -305,9 +316,16 @@ static void set_alarm(int32_t chan, uint32_t req_cc)
 				now = counter();
 				if (counter_sub(now, req_cc) > COUNTER_HALF_SPAN) {
 					event_clear(chan);
+					if (exact) {
+						ret = -EINVAL;
+						break;
+					}
 				} else {
 					break;
 				}
+			} else if (exact) {
+				ret = -EINVAL;
+				break;
 			}
 
 			cc_val = now + cc_inc;
@@ -316,11 +334,13 @@ static void set_alarm(int32_t chan, uint32_t req_cc)
 			break;
 		}
 	}
+
+	return ret;
 }
 
 static int compare_set_nolocks(int32_t chan, uint64_t target_time,
 			z_nrf_rtc_timer_compare_handler_t handler,
-			void *user_data)
+			void *user_data, bool exact)
 {
 	int ret = 0;
 	uint32_t cc_value = absolute_time_to_cc(target_time);
@@ -336,29 +356,33 @@ static int compare_set_nolocks(int32_t chan, uint64_t target_time,
 			/* Target time is valid and is different than currently set.
 			 * Set CC value.
 			 */
-			set_alarm(chan, cc_value);
+			ret = set_alarm(chan, cc_value, exact);
 		}
-	} else {
+	} else if (!exact) {
 		/* Force ISR handling when exiting from critical section. */
 		atomic_or(&force_isr_mask, BIT(chan));
+	} else {
+		ret = -EINVAL;
 	}
 
-	cc_data[chan].target_time = target_time;
-	cc_data[chan].callback = handler;
-	cc_data[chan].user_context = user_data;
+	if (ret == 0) {
+		cc_data[chan].target_time = target_time;
+		cc_data[chan].callback = handler;
+		cc_data[chan].user_context = user_data;
+	}
 
 	return ret;
 }
 
 static int compare_set(int32_t chan, uint64_t target_time,
 			z_nrf_rtc_timer_compare_handler_t handler,
-			void *user_data)
+			void *user_data, bool exact)
 {
 	bool key;
 
 	key = compare_int_lock(chan);
 
-	int ret = compare_set_nolocks(chan, target_time, handler, user_data);
+	int ret = compare_set_nolocks(chan, target_time, handler, user_data, exact);
 
 	compare_int_unlock(chan, key);
 
@@ -371,7 +395,16 @@ int z_nrf_rtc_timer_set(int32_t chan, uint64_t target_time,
 {
 	__ASSERT_NO_MSG(chan > 0 && chan < CHAN_COUNT);
 
-	return compare_set(chan, target_time, handler, user_data);
+	return compare_set(chan, target_time, handler, user_data, false);
+}
+
+int z_nrf_rtc_timer_exact_set(int32_t chan, uint64_t target_time,
+			      z_nrf_rtc_timer_compare_handler_t handler,
+			      void *user_data)
+{
+	__ASSERT_NO_MSG(chan > 0 && chan < CHAN_COUNT);
+
+	return compare_set(chan, target_time, handler, user_data, true);
 }
 
 void z_nrf_rtc_timer_abort(int32_t chan)
@@ -452,7 +485,7 @@ static void sys_clock_timeout_handler(int32_t chan,
 		 * so it won't get preempted by the interrupt.
 		 */
 		compare_set(chan, last_count + CYC_PER_TICK,
-					  sys_clock_timeout_handler, NULL);
+					  sys_clock_timeout_handler, NULL, false);
 	}
 
 	sys_clock_announce(dticks);
@@ -652,7 +685,7 @@ void sys_clock_set_timeout(int32_t ticks, bool idle)
 
 	uint64_t target_time = cyc + last_count;
 
-	compare_set(0, target_time, sys_clock_timeout_handler, NULL);
+	compare_set(0, target_time, sys_clock_timeout_handler, NULL, false);
 }
 
 uint32_t sys_clock_elapsed(void)
@@ -730,7 +763,7 @@ static int sys_clock_driver_init(void)
 	uint32_t initial_timeout = IS_ENABLED(CONFIG_TICKLESS_KERNEL) ?
 		MAX_CYCLES : CYC_PER_TICK;
 
-	compare_set(0, initial_timeout, sys_clock_timeout_handler, NULL);
+	compare_set(0, initial_timeout, sys_clock_timeout_handler, NULL, false);
 
 	z_nrf_clock_control_lf_on(mode);
 
diff --git a/include/zephyr/drivers/timer/nrf_rtc_timer.h b/include/zephyr/drivers/timer/nrf_rtc_timer.h
index b11f201386e..c5992bee4bd 100644
--- a/include/zephyr/drivers/timer/nrf_rtc_timer.h
+++ b/include/zephyr/drivers/timer/nrf_rtc_timer.h
@@ -127,11 +127,42 @@ uint32_t z_nrf_rtc_timer_compare_read(int32_t chan);
  * @retval 0 if the compare channel was set successfully.
  * @retval -EINVAL if provided target time was further than
  *         @c NRF_RTC_TIMER_MAX_SCHEDULE_SPAN ticks in the future.
+ *
+ * @sa @ref z_nrf_rtc_timer_exact_set
  */
 int z_nrf_rtc_timer_set(int32_t chan, uint64_t target_time,
 			 z_nrf_rtc_timer_compare_handler_t handler,
 			 void *user_data);
 
+/** @brief Try to set compare channel exactly to given value.
+ *
+ * @note This function is similar to @ref z_nrf_rtc_timer_set, but the compare
+ * channel will be set to expected value only when it can be guaranteed that
+ * the hardware event will be generated exactly at expected @c target_time in
+ * the future. If the @c target_time is in the past or so close in the future
+ * that the reliable generation of event would require adjustment of compare
+ * value (as would @ref z_nrf_rtc_timer_set function do), neither the hardware
+ * event nor interrupt will be generated and the function fails.
+ *
+ * @param chan Channel ID between 1 and CONFIG_NRF_RTC_TIMER_USER_CHAN_COUNT.
+ *
+ * @param target_time Absolute target time in ticks.
+ *
+ * @param handler User function called in the context of the RTC interrupt.
+ *
+ * @param user_data Data passed to the handler.
+ *
+ * @retval 0 if the compare channel was set successfully.
+ * @retval -EINVAL if provided target time was further than
+ *         @c NRF_RTC_TIMER_MAX_SCHEDULE_SPAN ticks in the future
+ *         or the target time is in the past or is so close in the future that
+ *         event generation could not be guaranteed without adjusting
+ *         compare value of that channel.
+ */
+int z_nrf_rtc_timer_exact_set(int32_t chan, uint64_t target_time,
+			      z_nrf_rtc_timer_compare_handler_t handler,
+			      void *user_data);
+
 /** @brief Abort a timer requested with @ref z_nrf_rtc_timer_set.
  *
  * If an abort operation is performed too late it is still possible for an event