diff --git a/onnxruntime/core/platform/windows/logging/etw_sink.cc b/onnxruntime/core/platform/windows/logging/etw_sink.cc
index b0f9eaf4f62d2..ef42c88a67ba6 100644
--- a/onnxruntime/core/platform/windows/logging/etw_sink.cc
+++ b/onnxruntime/core/platform/windows/logging/etw_sink.cc
@@ -137,28 +137,45 @@ void NTAPI EtwRegistrationManager::ORT_TL_EtwEnableCallback(
 EtwRegistrationManager::~EtwRegistrationManager() {
   std::lock_guard<OrtMutex> lock(callbacks_mutex_);
   callbacks_.clear();
-  ::TraceLoggingUnregister(etw_provider_handle);
+  if (initialization_status_ == InitializationStatus::Initialized ||
+      initialization_status_ == InitializationStatus::Initializing) {
+    std::lock_guard<OrtMutex> init_lock(init_mutex_);
+    assert(initialization_status_ != InitializationStatus::Initializing);
+    if (initialization_status_ == InitializationStatus::Initialized) {
+      ::TraceLoggingUnregister(etw_provider_handle);
+      initialization_status_ = InitializationStatus::NotInitialized;
+    }
+  }
 }
 
 EtwRegistrationManager::EtwRegistrationManager() {
 }
 
-void EtwRegistrationManager::LazyInitialize() {
-  if (!initialized_) {
+void EtwRegistrationManager::LazyInitialize() try {
+  if (initialization_status_ == InitializationStatus::NotInitialized) {
     std::lock_guard<OrtMutex> lock(init_mutex_);
-    if (!initialized_) {  // Double-check locking pattern
-      initialized_ = true;
+    if (initialization_status_ == InitializationStatus::NotInitialized) {  // Double-check locking pattern
+      initialization_status_ = InitializationStatus::Initializing;
       etw_status_ = ::TraceLoggingRegisterEx(etw_provider_handle, ORT_TL_EtwEnableCallback, nullptr);
       if (FAILED(etw_status_)) {
         ORT_THROW("ETW registration failed. Logging will be broken: " + std::to_string(etw_status_));
       }
+      initialization_status_ = InitializationStatus::Initialized;
     }
   }
+} catch (...) {
+  initialization_status_ = InitializationStatus::Failed;
+  throw;
 }
 
 void EtwRegistrationManager::InvokeCallbacks(LPCGUID SourceId, ULONG IsEnabled, UCHAR Level, ULONGLONG MatchAnyKeyword,
                                              ULONGLONG MatchAllKeyword, PEVENT_FILTER_DESCRIPTOR FilterData,
                                              PVOID CallbackContext) {
+  if (initialization_status_ != InitializationStatus::Initialized) {
+    // Drop messages until manager is fully initialized.
+    return;
+  }
+
   std::lock_guard<OrtMutex> lock(callbacks_mutex_);
   for (const auto& callback : callbacks_) {
     (*callback)(SourceId, IsEnabled, Level, MatchAnyKeyword, MatchAllKeyword, FilterData, CallbackContext);
diff --git a/onnxruntime/core/platform/windows/logging/etw_sink.h b/onnxruntime/core/platform/windows/logging/etw_sink.h
index 3af45b813a625..d6c9ea27b2955 100644
--- a/onnxruntime/core/platform/windows/logging/etw_sink.h
+++ b/onnxruntime/core/platform/windows/logging/etw_sink.h
@@ -47,6 +47,11 @@ class EtwSink : public ISink {
 };
 
 class EtwRegistrationManager {
+  enum class InitializationStatus { NotInitialized,
+                                    Initializing,
+                                    Initialized,
+                                    Failed };
+
  public:
   using EtwInternalCallback = std::function<void(LPCGUID SourceId, ULONG IsEnabled, UCHAR Level,
                                                  ULONGLONG MatchAnyKeyword, ULONGLONG MatchAllKeyword,
@@ -96,7 +101,7 @@ class EtwRegistrationManager {
   OrtMutex callbacks_mutex_;
   mutable OrtMutex provider_change_mutex_;
   OrtMutex init_mutex_;
-  bool initialized_ = false;
+  InitializationStatus initialization_status_ = InitializationStatus::NotInitialized;
   bool is_enabled_;
   UCHAR level_;
   ULONGLONG keyword_;