diff --git a/drivers/usb/device/usb_dc_stm32.c b/drivers/usb/device/usb_dc_stm32.c
index ea560ad751a4e..a56af6154a243 100644
--- a/drivers/usb/device/usb_dc_stm32.c
+++ b/drivers/usb/device/usb_dc_stm32.c
@@ -447,6 +447,12 @@ static int usb_dc_stm32_clock_enable(void)
 
 #if USB_OTG_HS_EMB_PHYC
 #if !DT_HAS_COMPAT_STATUS_OKAY(st_stm32n6_otghs)
+	/*
+	 * STM32F723 and STM32F730 embedded HS PHY requires ULPI
+	 * clock to be enabled (RUN and LP) in addition to USBPHYC.
+	 */
+	LL_AHB1_GRP1_EnableClockLowPower(LL_AHB1_GRP1_PERIPH_OTGHSULPI);
+	LL_AHB1_GRP1_EnableClock(LL_AHB1_GRP1_PERIPH_OTGHSULPI);
 	LL_APB2_GRP1_EnableClock(LL_APB2_GRP1_PERIPH_OTGPHYC);
 #endif
 #endif
diff --git a/drivers/usb/udc/udc_stm32.c b/drivers/usb/udc/udc_stm32.c
index 53b9654ed14c1..67a937c8b15b0 100644
--- a/drivers/usb/udc/udc_stm32.c
+++ b/drivers/usb/udc/udc_stm32.c
@@ -1161,6 +1161,12 @@ static int priv_clock_enable(void)
 
 #if USB_OTG_HS_EMB_PHY
 #if !DT_HAS_COMPAT_STATUS_OKAY(st_stm32n6_otghs)
+	/*
+	 * STM32F723 and STM32F730 embedded HS PHY requires ULPI
+	 * clock to be enabled (RUN and LP) in addition to USBPHYC.
+	 */
+	LL_AHB1_GRP1_EnableClockLowPower(LL_AHB1_GRP1_PERIPH_OTGHSULPI);
+	LL_AHB1_GRP1_EnableClock(LL_AHB1_GRP1_PERIPH_OTGHSULPI);
 	LL_APB2_GRP1_EnableClock(LL_APB2_GRP1_PERIPH_OTGPHYC);
 #endif
 #endif