diff --git a/esphome/components/ethernet/ethernet_component.cpp b/esphome/components/ethernet/ethernet_component.cpp
index 7027035cd1..ff51848d32 100644
--- a/esphome/components/ethernet/ethernet_component.cpp
+++ b/esphome/components/ethernet/ethernet_component.cpp
@@ -127,14 +127,34 @@ void EthernetComponent::setup() {
   phy_config.reset_gpio_num = this->power_pin_;
 
 #if ESP_IDF_VERSION_MAJOR >= 5
+#if ESP_IDF_VERSION_MINOR >= 3 && ESP_IDF_VERSION_PATCH < 2
+  // fix https://github.com/espressif/esp-idf/commit/e9df36a2dfe9ee074f421aedaff8952a348b339d
+  // for v5.3.0 and v5.3.1
+  eth_esp32_emac_config_t esp32_emac_config = {
+      .smi_gpio = {.mdc_num = this->mdc_pin_, .mdio_num = this->mdio_pin_},
+      .interface = EMAC_DATA_INTERFACE_RMII,
+      .clock_config = {.rmii =
+                           {
+                               .clock_mode = this->clk_mode_,
+                               .clock_gpio = this->clk_gpio_,
+                           }},
+      .dma_burst_len = ETH_DMA_BURST_LEN_32,
+      .intr_priority = 0,
+  };
+#else  // ESP_IDF_VERSION_MINOR >= 3 && ESP_IDF_VERSION_PATCH > 2
   eth_esp32_emac_config_t esp32_emac_config = ETH_ESP32_EMAC_DEFAULT_CONFIG();
+#if ESP_IDF_VERSION_MINOR >= 3
+  esp32_emac_config.smi_gpio = {.mdc_num = this->mdc_pin_, .mdio_num = this->mdio_pin_};
+#else  // ESP_IDF_VERSION_MINOR < 3
   esp32_emac_config.smi_mdc_gpio_num = this->mdc_pin_;
   esp32_emac_config.smi_mdio_gpio_num = this->mdio_pin_;
+#endif
   esp32_emac_config.clock_config.rmii.clock_mode = this->clk_mode_;
   esp32_emac_config.clock_config.rmii.clock_gpio = this->clk_gpio_;
+#endif
 
   esp_eth_mac_t *mac = esp_eth_mac_new_esp32(&esp32_emac_config, &mac_config);
-#else
+#else  // ESP_IDF_VERSION_MAJOR < 5
   mac_config.smi_mdc_gpio_num = this->mdc_pin_;
   mac_config.smi_mdio_gpio_num = this->mdio_pin_;
   mac_config.clock_config.rmii.clock_mode = this->clk_mode_;