diff --git a/.github/labeler.yml b/.github/labeler.yml
index 318dd4682..da6ee527f 100644
--- a/.github/labeler.yml
+++ b/.github/labeler.yml
@@ -1,3 +1,6 @@
+R-loom-blocking:
+- tokio/src/runtime/blocking/*
+- tokio/src/runtime/blocking/**/*
 
 R-loom-sync:
 - tokio/src/sync/*
diff --git a/.github/workflows/loom.yml b/.github/workflows/loom.yml
index c400a28cd..0799017a6 100644
--- a/.github/workflows/loom.yml
+++ b/.github/workflows/loom.yml
@@ -23,6 +23,22 @@ permissions:
   contents: read
 
 jobs:
+  loom-blocking:
+    name: loom tokio::runtime::spawn_blocking
+    # base_ref is null when it's not a pull request
+    if: github.repository_owner == 'tokio-rs' && (contains(github.event.pull_request.labels.*.name, 'R-loom-blocking') || (github.base_ref == null))
+    runs-on: ubuntu-latest
+    steps:
+      - uses: actions/checkout@v5
+      - name: Install Rust ${{ env.rust_stable }}
+        uses: dtolnay/rust-toolchain@master
+        with:
+            toolchain: ${{ env.rust_stable }}
+      - uses: Swatinem/rust-cache@v2
+      - name: run tests
+        run: cargo test --lib --release --features full -- --nocapture loom_blocking
+        working-directory: tokio
+
   loom-sync:
     name: loom tokio::sync
     # base_ref is null when it's not a pull request
diff --git a/tokio/src/runtime/blocking/pool.rs b/tokio/src/runtime/blocking/pool.rs
index 309348124..dae98bc94 100644
--- a/tokio/src/runtime/blocking/pool.rs
+++ b/tokio/src/runtime/blocking/pool.rs
@@ -507,6 +507,8 @@ impl Inner {
 
         let mut shared = self.shared.lock();
         let mut join_on_thread = None;
+        // is this thread currently counted in `num_idle_threads`?
+        let mut is_counted_idle;
 
         'main: loop {
             // BUSY
@@ -520,6 +522,8 @@ impl Inner {
 
             // IDLE
             self.metrics.inc_num_idle_threads();
+            // mark this thread as currently counted in `num_idle_threads`.
+            is_counted_idle = true;
 
             while !shared.shutdown {
                 let lock_result = self.condvar.wait_timeout(shared, self.keep_alive).unwrap();
@@ -532,6 +536,9 @@ impl Inner {
                     // acknowledge it by decrementing the counter
                     // and transition to the BUSY state.
                     shared.num_notify -= 1;
+                    // since this is a legitimate wakeup,
+                    // the `Spawner::spawn_task` has already decremented `num_idle_threads`.
+                    is_counted_idle = false;
                     break;
                 }
 
@@ -568,14 +575,17 @@ impl Inner {
         // Thread exit
         self.metrics.dec_num_threads();
 
-        // `num_idle_threads` should now be tracked exactly, panic
-        // with a descriptive message if it is not the
-        // case.
-        let prev_idle = self.metrics.dec_num_idle_threads();
-        assert_ne!(
-            prev_idle, 0,
-            "`num_idle_threads` underflowed on thread exit"
-        );
+        // Is this thread currently counted in `num_idle_threads`?
+        if is_counted_idle {
+            // `num_idle_threads` should now be tracked exactly, panic
+            // with a descriptive message if it is not the
+            // case.
+            let prev_idle = self.metrics.dec_num_idle_threads();
+            assert_ne!(
+                prev_idle, 0,
+                "`num_idle_threads` underflowed on thread exit"
+            );
+        }
 
         if shared.shutdown && self.metrics.num_threads() == 0 {
             self.condvar.notify_one();
diff --git a/tokio/src/runtime/tests/loom_blocking.rs b/tokio/src/runtime/tests/loom_blocking.rs
index 5c4aeae39..ce1f26441 100644
--- a/tokio/src/runtime/tests/loom_blocking.rs
+++ b/tokio/src/runtime/tests/loom_blocking.rs
@@ -1,6 +1,7 @@
 use crate::runtime::{self, Runtime};
 
 use std::sync::Arc;
+use std::time::Duration;
 
 #[test]
 fn blocking_shutdown() {
@@ -75,7 +76,6 @@ fn spawn_mandatory_blocking_should_run_even_when_shutting_down_from_other_thread
 
 #[test]
 fn spawn_blocking_when_paused() {
-    use std::time::Duration;
     loom::model(|| {
         let rt = crate::runtime::Builder::new_current_thread()
             .enable_time()
@@ -94,6 +94,44 @@ fn spawn_blocking_when_paused() {
     });
 }
 
+#[test]
+/// See <https://github.com/tokio-rs/tokio/pull/7922>
+fn spawn_blocking_then_shutdown() {
+    loom::model(|| {
+        let rt = crate::runtime::Builder::new_current_thread()
+            .max_blocking_threads(1)
+            .thread_keep_alive(Duration::from_secs(7200)) // don't let the thread exit on its own
+            .build()
+            .unwrap();
+        let rt_hdl = rt.handle().clone();
+
+        // Currently, there is no live blocking thread,
+        // so `spawn_blocking` will spawn a new blocking thread.
+        let jh0 = rt_hdl.spawn_blocking(|| {});
+        loom::future::block_on(jh0).unwrap();
+
+        // Now, there is a idle blocking threads park on the condvar,
+        // so the following `spawn_blocking` will decrease the `num_idle_threads`
+        // and then notify one of the idle threads to run the task.
+
+        // this will decrease the `num_idle_threads`
+        // and then notify one of the idle threads to run the task.
+        let jh3 = rt_hdl.spawn_blocking(|| {});
+
+        // shutdown the runtime, which also shutdown the blocking pool
+        drop(rt);
+
+        // loom will emulate two parrel operations:
+        //
+        // 1. the blocking thread is woken up on the condvar
+        // 2. the main thread is waiting for the blocking thread to finish the task
+        //
+        // So, if the `num_idle_threads` is not counted correctly,
+        // it will trigger the assertions inside the `Inner::run` function.
+        let _ = loom::future::block_on(jh3);
+    });
+}
+
 fn mk_runtime(num_threads: usize) -> Runtime {
     runtime::Builder::new_multi_thread()
         .worker_threads(num_threads)