diff --git a/include/logging/log_ctrl.h b/include/logging/log_ctrl.h
index 9afa0723232..ef0169741cd 100644
--- a/include/logging/log_ctrl.h
+++ b/include/logging/log_ctrl.h
@@ -220,6 +220,32 @@ static inline bool log_data_pending(void)
  */
 int log_set_tag(const char *tag);
 
+/**
+ * @brief Get current memory usage.
+ *
+ * @param[out] buf_size Capacity of the buffer used for storing log messages.
+ * @param[out] usage Number of bytes currently containing pending log messages.
+ *
+ * @retval -EINVAL if logging mode does not use the buffer.
+ * @retval 0 successfully collected usage data.
+ */
+int log_mem_get_usage(uint32_t *buf_size, uint32_t *usage);
+
+/**
+ * @brief Get maximum memory usage.
+ *
+ * Requires CONFIG_LOG_MEM_UTILIZATION option.
+ *
+ * @param[out] max Maximum number of bytes used for pending log messages.
+ *
+ * @retval -EINVAL if logging mode does not use the buffer.
+ * @retval -ENOTSUP if instrumentation is not enabled.
+ * not been enabled.
+ *
+ * @retval 0 successfully collected usage data.
+ */
+int log_mem_get_max_usage(uint32_t *max);
+
 #if defined(CONFIG_LOG) && !defined(CONFIG_LOG_MODE_MINIMAL)
 #define LOG_CORE_INIT() log_core_init()
 #define LOG_INIT() log_init()
diff --git a/include/logging/log_msg.h b/include/logging/log_msg.h
index 570a8347ede..eab86cc6a4b 100644
--- a/include/logging/log_msg.h
+++ b/include/logging/log_msg.h
@@ -482,7 +482,12 @@ uint32_t log_msg_mem_get_used(void);
  */
 uint32_t log_msg_mem_get_max_used(void);
 
-
+/**
+ * @brief Get slab size
+ *
+ * @return Size of a slab used in slab pool for log messages.
+ */
+size_t log_msg_get_slab_size(void);
 /**
  * @}
  */
diff --git a/subsys/logging/Kconfig.misc b/subsys/logging/Kconfig.misc
index 804ef88a74a..6c2ccdb4c9c 100644
--- a/subsys/logging/Kconfig.misc
+++ b/subsys/logging/Kconfig.misc
@@ -53,4 +53,13 @@ config LOG2_FMT_SECTION
 	  removing strings from final binary and should be used for dictionary
 	  logging.
 
+config LOG_MEM_UTILIZATION
+	bool "Enable tracking maximum memory utilization"
+	depends on LOG_MODE_DEFERRED
+	default y if LOG_CMDS
+	select MEM_SLAB_TRACE_MAX_UTILIZATION if LOG1
+	help
+	  When enabled, maximum usage of memory used for log messages in deferred
+	  mode is tracked. It can be used to trim LOG_BUFFER_SIZE.
+
 endmenu
diff --git a/subsys/logging/log_cmds.c b/subsys/logging/log_cmds.c
index 9619c09f28f..e47aa84e4a3 100644
--- a/subsys/logging/log_cmds.c
+++ b/subsys/logging/log_cmds.c
@@ -404,26 +404,28 @@ static int cmd_log_strdup_utilization(const struct shell *shell,
 	return 0;
 }
 
-static int cmd_log_memory_slabs(const struct shell *sh, size_t argc, char **argv)
+static int cmd_log_mem(const struct shell *sh, size_t argc, char **argv)
 {
-	uint32_t slabs_free;
+	uint32_t size;
 	uint32_t used;
 	uint32_t max;
+	int err;
 
-	slabs_free = log_msg_mem_get_free();
-	used = log_msg_mem_get_used();
-
-	shell_print(sh, "Blocks used:\t%d", used);
-	shell_print(sh, "Blocks free:\t%d", slabs_free);
-	if (IS_ENABLED(CONFIG_MEM_SLAB_TRACE_MAX_UTILIZATION)) {
-		max = log_msg_mem_get_max_used();
-		shell_print(sh, "Blocks max:\t%d", max);
-	} else {
-		shell_print(
-			sh,
-			"Enable CONFIG_MEM_SLAB_TRACE_MAX_UTILIZATION to get max memory utilization");
+	err = log_mem_get_usage(&size, &used);
+	if (err < 0) {
+		shell_error(sh, "Failed to get usage (mode does not support it?)");
 	}
 
+	shell_print(sh, "Log message buffer utilization report:");
+	shell_print(sh, "\tCapacity: %u bytes", size);
+	shell_print(sh, "\tCurrently in use: %u bytes", used);
+	err = log_mem_get_max_usage(&max);
+	if (err < 0) {
+		shell_print(sh, "Enable CONFIG_LOG_MEM_UTILIZATION to get maximum usage");
+	}
+
+	shell_print(sh, "\tMaximum usage: %u bytes", max);
+
 	return 0;
 }
 
@@ -479,7 +481,7 @@ SHELL_STATIC_SUBCMD_SET_CREATE(
 			   "Get utilization of string duplicates pool", cmd_log_strdup_utilization,
 			   1, 0),
 	SHELL_COND_CMD(CONFIG_LOG_MODE_DEFERRED, mem, NULL, "Logger memory usage",
-		       cmd_log_memory_slabs),
+		       cmd_log_mem),
 	SHELL_SUBCMD_SET_END);
 
 SHELL_CMD_REGISTER(log, &sub_log_stat, "Commands for controlling logger",
diff --git a/subsys/logging/log_core.c b/subsys/logging/log_core.c
index 391b9bf87d4..4af16c9e4d1 100644
--- a/subsys/logging/log_core.c
+++ b/subsys/logging/log_core.c
@@ -105,8 +105,10 @@ static const struct mpsc_pbuf_buffer_config mpsc_config = {
 	.size = ARRAY_SIZE(buf32),
 	.notify_drop = notify_drop,
 	.get_wlen = log_msg2_generic_get_wlen,
-	.flags = IS_ENABLED(CONFIG_LOG_MODE_OVERFLOW) ?
-		MPSC_PBUF_MODE_OVERWRITE : 0
+	.flags = (IS_ENABLED(CONFIG_LOG_MODE_OVERFLOW) ?
+		  MPSC_PBUF_MODE_OVERWRITE : 0) |
+		 (IS_ENABLED(CONFIG_LOG_MEM_UTILIZATION) ?
+		  MPSC_PBUF_MAX_UTILIZATION : 0)
 };
 
 /* Check that default tag can fit in tag buffer. */
@@ -1259,6 +1261,42 @@ int log_set_tag(const char *str)
 	return 0;
 }
 
+int log_mem_get_usage(uint32_t *buf_size, uint32_t *usage)
+{
+	__ASSERT_NO_MSG(buf_size != NULL);
+	__ASSERT_NO_MSG(usage != NULL);
+
+	if (!IS_ENABLED(CONFIG_LOG_MODE_DEFERRED)) {
+		return -EINVAL;
+	}
+
+	if (IS_ENABLED(CONFIG_LOG1)) {
+		*buf_size = CONFIG_LOG_BUFFER_SIZE;
+		*usage = log_msg_mem_get_used() * log_msg_get_slab_size();
+		return 0;
+	}
+
+	mpsc_pbuf_get_utilization(&log_buffer, buf_size, usage);
+
+	return 0;
+}
+
+int log_mem_get_max_usage(uint32_t *max)
+{
+	__ASSERT_NO_MSG(max != NULL);
+
+	if (!IS_ENABLED(CONFIG_LOG_MODE_DEFERRED)) {
+		return -EINVAL;
+	}
+
+	if (IS_ENABLED(CONFIG_LOG1)) {
+		*max = log_msg_mem_get_max_used() * log_msg_get_slab_size();
+		return 0;
+	}
+
+	return mpsc_pbuf_get_max_utilization(&log_buffer, max);
+}
+
 static void log_process_thread_timer_expiry_fn(struct k_timer *timer)
 {
 	k_sem_give(&log_process_thread_sem);
diff --git a/subsys/logging/log_msg.c b/subsys/logging/log_msg.c
index 522f47abd35..7ebf4f7f692 100644
--- a/subsys/logging/log_msg.c
+++ b/subsys/logging/log_msg.c
@@ -498,3 +498,8 @@ uint32_t log_msg_mem_get_max_used(void)
 {
 	return k_mem_slab_max_used_get(&log_msg_pool);
 }
+
+size_t log_msg_get_slab_size(void)
+{
+	return MSG_SIZE;
+}