diff --git a/src/runtime/crash_test.go b/src/runtime/crash_test.go
index 5333b6064635c..34f30c9a372c9 100644
--- a/src/runtime/crash_test.go
+++ b/src/runtime/crash_test.go
@@ -55,6 +55,16 @@ func runTestProg(t *testing.T, binary, name string, env ...string) string {
 		t.Fatal(err)
 	}
 
+	return runBuiltTestProg(t, exe, name, env...)
+}
+
+func runBuiltTestProg(t *testing.T, exe, name string, env ...string) string {
+	if *flagQuick {
+		t.Skip("-quick")
+	}
+
+	testenv.MustHaveGoBuild(t)
+
 	cmd := testenv.CleanCmdEnv(exec.Command(exe, name))
 	cmd.Env = append(cmd.Env, env...)
 	if testing.Short() {
@@ -64,7 +74,7 @@ func runTestProg(t *testing.T, binary, name string, env ...string) string {
 	cmd.Stdout = &b
 	cmd.Stderr = &b
 	if err := cmd.Start(); err != nil {
-		t.Fatalf("starting %s %s: %v", binary, name, err)
+		t.Fatalf("starting %s %s: %v", exe, name, err)
 	}
 
 	// If the process doesn't complete within 1 minute,
@@ -92,7 +102,7 @@ func runTestProg(t *testing.T, binary, name string, env ...string) string {
 	}()
 
 	if err := cmd.Wait(); err != nil {
-		t.Logf("%s %s exit status: %v", binary, name, err)
+		t.Logf("%s %s exit status: %v", exe, name, err)
 	}
 	close(done)
 
diff --git a/src/runtime/proc.go b/src/runtime/proc.go
index 2a91e821857bd..a66b4d02515fd 100644
--- a/src/runtime/proc.go
+++ b/src/runtime/proc.go
@@ -1762,10 +1762,16 @@ func startTemplateThread() {
 	if GOARCH == "wasm" { // no threads on wasm yet
 		return
 	}
+
+	// Disable preemption to guarantee that the template thread will be
+	// created before a park once haveTemplateThread is set.
+	mp := acquirem()
 	if !atomic.Cas(&newmHandoff.haveTemplateThread, 0, 1) {
+		releasem(mp)
 		return
 	}
 	newm(templateThread, nil)
+	releasem(mp)
 }
 
 // templateThread is a thread in a known-good state that exists solely
diff --git a/src/runtime/proc_test.go b/src/runtime/proc_test.go
index acee7a181936c..8c70c19d9268c 100644
--- a/src/runtime/proc_test.go
+++ b/src/runtime/proc_test.go
@@ -6,6 +6,7 @@ package runtime_test
 
 import (
 	"fmt"
+	"internal/testenv"
 	"math"
 	"net"
 	"runtime"
@@ -923,6 +924,29 @@ func TestLockOSThreadAvoidsStatePropagation(t *testing.T) {
 	}
 }
 
+func TestLockOSThreadTemplateThreadRace(t *testing.T) {
+	testenv.MustHaveGoRun(t)
+
+	exe, err := buildTestProg(t, "testprog")
+	if err != nil {
+		t.Fatal(err)
+	}
+
+	iterations := 100
+	if testing.Short() {
+		// Reduce run time to ~100ms, with much lower probability of
+		// catching issues.
+		iterations = 5
+	}
+	for i := 0; i < iterations; i++ {
+		want := "OK\n"
+		output := runBuiltTestProg(t, exe, "LockOSThreadTemplateThreadRace")
+		if output != want {
+			t.Fatalf("run %d: want %q, got %q", i, want, output)
+		}
+	}
+}
+
 // fakeSyscall emulates a system call.
 //go:nosplit
 func fakeSyscall(duration time.Duration) {
diff --git a/src/runtime/testdata/testprog/lockosthread.go b/src/runtime/testdata/testprog/lockosthread.go
index fd3123e64743f..098cc4dd722e6 100644
--- a/src/runtime/testdata/testprog/lockosthread.go
+++ b/src/runtime/testdata/testprog/lockosthread.go
@@ -7,6 +7,7 @@ package main
 import (
 	"os"
 	"runtime"
+	"sync"
 	"time"
 )
 
@@ -30,6 +31,7 @@ func init() {
 		runtime.LockOSThread()
 	})
 	register("LockOSThreadAvoidsStatePropagation", LockOSThreadAvoidsStatePropagation)
+	register("LockOSThreadTemplateThreadRace", LockOSThreadTemplateThreadRace)
 }
 
 func LockOSThreadMain() {
@@ -195,3 +197,50 @@ func LockOSThreadAvoidsStatePropagation() {
 	runtime.UnlockOSThread()
 	println("OK")
 }
+
+func LockOSThreadTemplateThreadRace() {
+	// This test attempts to reproduce the race described in
+	// golang.org/issue/38931. To do so, we must have a stop-the-world
+	// (achieved via ReadMemStats) racing with two LockOSThread calls.
+	//
+	// While this test attempts to line up the timing, it is only expected
+	// to fail (and thus hang) around 2% of the time if the race is
+	// present.
+
+	// Ensure enough Ps to actually run everything in parallel. Though on
+	// <4 core machines, we are still at the whim of the kernel scheduler.
+	runtime.GOMAXPROCS(4)
+
+	go func() {
+		// Stop the world; race with LockOSThread below.
+		var m runtime.MemStats
+		for {
+			runtime.ReadMemStats(&m)
+		}
+	}()
+
+	// Try to synchronize both LockOSThreads.
+	start := time.Now().Add(10*time.Millisecond)
+
+	var wg sync.WaitGroup
+	wg.Add(2)
+
+	for i := 0; i < 2; i++ {
+		go func() {
+			for time.Now().Before(start) {
+			}
+
+			// Add work to the local runq to trigger early startm
+			// in handoffp.
+			go func(){}()
+
+			runtime.LockOSThread()
+			runtime.Gosched()  // add a preemption point.
+			wg.Done()
+		}()
+	}
+
+	wg.Wait()
+	// If both LockOSThreads completed then we did not hit the race.
+	println("OK")
+}