diff --git a/mysql-test/r/delayed.result b/mysql-test/r/delayed.result
index 2bc77c52bec..871931f6b49 100644
--- a/mysql-test/r/delayed.result
+++ b/mysql-test/r/delayed.result
@@ -345,3 +345,78 @@ CREATE TABLE t1 LIKE t2;
 ERROR 42S01: Table 't1' already exists
 DROP TABLE t2;
 DROP TABLE t1;
+#
+# Bug#54332 Deadlock with two connections doing LOCK TABLE+INSERT DELAYED
+#
+DROP TABLE IF EXISTS t1, t2;
+CREATE TABLE t1 (a INT);
+CREATE TABLE t2 (a INT);
+CREATE TABLE t3 (a INT);
+# Test 1: Using LOCK TABLE
+# Connection con1
+LOCK TABLE t1 WRITE;
+# Connection default
+LOCK TABLE t2 WRITE;
+# Sending:
+INSERT DELAYED INTO t1 VALUES (1);
+# Connection con1
+# Wait until INSERT DELAYED is blocked on table 't1'.
+INSERT DELAYED INTO t2 VALUES (1);
+ERROR 40001: Deadlock found when trying to get lock; try restarting transaction
+UNLOCK TABLES;
+# Connection default
+# Reaping: INSERT DELAYED INTO t1 VALUES (1)
+UNLOCK TABLES;
+# Test 2: Using ALTER TABLE
+START TRANSACTION;
+SELECT * FROM t1 WHERE a=0;
+a
+# Connection con1
+# Sending:
+ALTER TABLE t1 COMMENT 'test';
+# Connection default
+# Wait until ALTER TABLE is blocked on table 't1'.
+INSERT DELAYED INTO t1 VALUES (3);
+ERROR 40001: Deadlock found when trying to get lock; try restarting transaction
+COMMIT;
+# Connection con1
+# Reaping: ALTER TABLE t1 COMMENT 'test'
+# Test 3: Using RENAME TABLE
+# Connection default
+START TRANSACTION;
+INSERT INTO t2 VALUES (1);
+# Connection con1
+# Sending:
+RENAME TABLE t1 to t5, t2 to t4;
+# Connection default
+# Wait until RENAME TABLE is blocked on table 't1'.
+INSERT DELAYED INTO t1 VALUES (4);
+ERROR 40001: Deadlock found when trying to get lock; try restarting transaction
+COMMIT;
+# Connection con1
+# Reaping: RENAME TABLE t1 to t5, t2 to t4
+# Connection default
+# Reverting the renames
+RENAME TABLE t5 to t1, t4 to t2;
+# Test 4: Two INSERT DELAYED on the same table
+START TRANSACTION;
+INSERT INTO t2 VALUES (1);
+# Connection con2
+LOCK TABLE t1 WRITE, t2 WRITE;
+# Connection con1
+# Wait until LOCK TABLE is blocked on table 't2'.
+INSERT DELAYED INTO t1 VALUES (5);
+# Connection default
+# Wait until INSERT DELAYED is blocked on table 't1'.
+INSERT DELAYED INTO t1 VALUES (6);
+ERROR 40001: Deadlock found when trying to get lock; try restarting transaction
+COMMIT;
+# Connection con2
+# Reaping: LOCK TABLE t1 WRITE, t2 WRITE
+UNLOCK TABLES;
+# Connection con1
+# Reaping: INSERT DELAYED INTO t1 VALUES (5)
+# Connection con2
+# Connection con1
+# Connection default
+DROP TABLE t1, t2, t3;
diff --git a/mysql-test/t/delayed.test b/mysql-test/t/delayed.test
index 2bf0d5d2633..c43287b48e8 100644
--- a/mysql-test/t/delayed.test
+++ b/mysql-test/t/delayed.test
@@ -388,3 +388,162 @@ CREATE TABLE t1 LIKE t2;
 
 DROP TABLE t2;
 DROP TABLE t1;
+
+
+--echo #
+--echo # Bug#54332 Deadlock with two connections doing LOCK TABLE+INSERT DELAYED
+--echo #
+
+--disable_warnings
+DROP TABLE IF EXISTS t1, t2;
+--enable_warnings
+
+CREATE TABLE t1 (a INT);
+CREATE TABLE t2 (a INT);
+CREATE TABLE t3 (a INT);
+
+--echo # Test 1: Using LOCK TABLE
+
+--echo # Connection con1
+connect (con1, localhost, root);
+LOCK TABLE t1 WRITE;
+
+--echo # Connection default
+connection default;
+LOCK TABLE t2 WRITE;
+--echo # Sending:
+--send INSERT DELAYED INTO t1 VALUES (1)
+
+--echo # Connection con1
+connection con1;
+--echo # Wait until INSERT DELAYED is blocked on table 't1'.
+let $wait_condition=
+  SELECT COUNT(*) = 1 FROM information_schema.processlist
+  WHERE state = "Waiting for table metadata lock"
+  AND info = "INSERT DELAYED INTO t1 VALUES (1)";
+--source include/wait_condition.inc
+--error ER_LOCK_DEADLOCK
+INSERT DELAYED INTO t2 VALUES (1);
+UNLOCK TABLES;
+
+--echo # Connection default
+connection default;
+--echo # Reaping: INSERT DELAYED INTO t1 VALUES (1)
+--reap
+UNLOCK TABLES;
+
+--echo # Test 2: Using ALTER TABLE
+
+START TRANSACTION;
+SELECT * FROM t1 WHERE a=0;
+
+--echo # Connection con1
+connection con1;
+--echo # Sending:
+--send ALTER TABLE t1 COMMENT 'test'
+
+--echo # Connection default
+connection default;
+--echo # Wait until ALTER TABLE is blocked on table 't1'.
+let $wait_condition=
+  SELECT COUNT(*) = 1 FROM information_schema.processlist
+  WHERE state = "Waiting for table metadata lock"
+  AND info = "ALTER TABLE t1 COMMENT 'test'";
+--source include/wait_condition.inc
+--error ER_LOCK_DEADLOCK
+INSERT DELAYED INTO t1 VALUES (3);
+COMMIT;
+
+--echo # Connection con1
+connection con1;
+--echo # Reaping: ALTER TABLE t1 COMMENT 'test'
+--reap
+
+--echo # Test 3: Using RENAME TABLE
+
+--echo # Connection default
+connection default;
+START TRANSACTION;
+INSERT INTO t2 VALUES (1);
+
+--echo # Connection con1
+connection con1;
+--echo # Sending:
+--send RENAME TABLE t1 to t5, t2 to t4
+
+--echo # Connection default
+connection default;
+--echo # Wait until RENAME TABLE is blocked on table 't1'.
+let $wait_condition=
+  SELECT COUNT(*) = 1 FROM information_schema.processlist
+  WHERE state = "Waiting for table metadata lock"
+  AND info = "RENAME TABLE t1 to t5, t2 to t4";
+--source include/wait_condition.inc
+--error ER_LOCK_DEADLOCK
+INSERT DELAYED INTO t1 VALUES (4);
+COMMIT;
+
+--echo # Connection con1
+connection con1;
+--echo # Reaping: RENAME TABLE t1 to t5, t2 to t4
+--reap
+
+--echo # Connection default
+connection default;
+--echo # Reverting the renames
+RENAME TABLE t5 to t1, t4 to t2;
+
+--echo # Test 4: Two INSERT DELAYED on the same table
+
+START TRANSACTION;
+INSERT INTO t2 VALUES (1);
+
+--echo # Connection con2
+connect (con2, localhost, root);
+--send LOCK TABLE t1 WRITE, t2 WRITE
+
+--echo # Connection con1
+connection con1;
+--echo # Wait until LOCK TABLE is blocked on table 't2'.
+let $wait_condition=
+  SELECT COUNT(*) = 1 FROM information_schema.processlist
+  WHERE state = "Waiting for table metadata lock"
+  AND info = "LOCK TABLE t1 WRITE, t2 WRITE";
+--source include/wait_condition.inc
+--send INSERT DELAYED INTO t1 VALUES (5)
+
+--echo # Connection default
+connection default;
+--echo # Wait until INSERT DELAYED is blocked on table 't1'.
+let $wait_condition=
+  SELECT COUNT(*) = 1 FROM information_schema.processlist
+  WHERE state = "Waiting for table metadata lock"
+  AND info = "INSERT DELAYED INTO t1 VALUES (5)";
+--source include/wait_condition.inc
+--error ER_LOCK_DEADLOCK
+INSERT DELAYED INTO t1 VALUES (6);
+COMMIT;
+
+--echo # Connection con2
+connection con2;
+--echo # Reaping: LOCK TABLE t1 WRITE, t2 WRITE
+--reap
+UNLOCK TABLES;
+
+--echo # Connection con1
+connection con1;
+--echo # Reaping: INSERT DELAYED INTO t1 VALUES (5)
+--reap
+
+--echo # Connection con2
+connection con2;
+disconnect con2;
+--source include/wait_until_disconnected.inc
+--echo # Connection con1
+connection con1;
+disconnect con1;
+--source include/wait_until_disconnected.inc
+
+--echo # Connection default
+connection default;
+DROP TABLE t1, t2, t3;
diff --git a/sql/sql_insert.cc b/sql/sql_insert.cc
index 6c23b47997a..d9340cf843a 100644
--- a/sql/sql_insert.cc
+++ b/sql/sql_insert.cc
@@ -548,10 +548,34 @@ bool open_and_lock_for_insert_delayed(THD *thd, TABLE_LIST *table_list)
     DBUG_RETURN(TRUE);
   }
 
-  if (delayed_get_table(thd, table_list))
+  /*
+    In order for the deadlock detector to be able to find any deadlocks
+    caused by the handler thread locking this table, we take the metadata
+    lock inside the connection thread. If this goes ok, the ticket is cloned
+    and added to the list of granted locks held by the handler thread.
+  */
+  MDL_ticket *mdl_savepoint= thd->mdl_context.mdl_savepoint();
+  if (thd->mdl_context.acquire_lock(&table_list->mdl_request,
+                                    thd->variables.lock_wait_timeout))
+    /*
+      If a lock can't be acquired, it makes no sense to try normal insert.
+      Therefore we just abort the statement.
+    */
     DBUG_RETURN(TRUE);
 
-  if (table_list->table)
+  /*
+    If a lock was acquired above, we should release it after delayed_get_table()
+    has cloned the ticket for the handler thread. Note that acquire_lock() can
+    succeed because of a lock already held by the connection. In this case we
+    should not release it here.
+  */
+  MDL_ticket *table_ticket = mdl_savepoint == thd->mdl_context.mdl_savepoint() ?
+    NULL: thd->mdl_context.mdl_savepoint();
+
+  bool error= FALSE;
+  if (delayed_get_table(thd, table_list))
+    error= TRUE;
+  else if (table_list->table)
   {
     /*
       Open tables used for sub-selects or in stored functions, will also
@@ -560,16 +584,30 @@ bool open_and_lock_for_insert_delayed(THD *thd, TABLE_LIST *table_list)
     if (open_and_lock_tables(thd, table_list->next_global, TRUE, 0))
     {
       end_delayed_insert(thd);
-      DBUG_RETURN(TRUE);
+      error= TRUE;
+    }
+    else
+    {
+      /*
+        First table was not processed by open_and_lock_tables(),
+        we need to set updatability flag "by hand".
+      */
+      if (!table_list->derived && !table_list->view)
+        table_list->updatable= 1;  // usual table
     }
-    /*
-      First table was not processed by open_and_lock_tables(),
-      we need to set updatability flag "by hand".
-    */
-    if (!table_list->derived && !table_list->view)
-      table_list->updatable= 1;  // usual table
-    DBUG_RETURN(FALSE);
   }
+
+  if (table_ticket)
+    thd->mdl_context.release_lock(table_ticket);
+  /*
+    Clone_ticket() in delayed_get_table() causes TABLE_LIST::MDL_REQUEST::ticket
+    to be overwritten with the cloned ticket. Reset the ticket here in case
+    we end up having to use normal insert.
+  */
+  table_list->mdl_request.ticket= NULL;
+
+  if (error || table_list->table)
+    DBUG_RETURN(error);
 #endif
   /*
     * This is embedded library and we don't have auxiliary
@@ -2025,6 +2063,20 @@ bool delayed_get_table(THD *thd, TABLE_LIST *table_list)
       /* Replace volatile strings with local copies */
       di->table_list.alias= di->table_list.table_name= di->thd.query();
       di->table_list.db= di->thd.db;
+
+      /*
+        Clone the ticket representing the lock on the target table for
+        the insert and add it to the list of granted metadata locks held by
+        the handler thread. This is safe since the handler thread is
+        not holding nor waiting on any metadata locks.
+      */
+      if (di->thd.mdl_context.clone_ticket(&table_list->mdl_request))
+      {
+        delete di;
+        my_error(ER_OUT_OF_RESOURCES, MYF(ME_FATALERROR));
+        goto end_create;
+      }
+
       di->lock();
       mysql_mutex_lock(&di->mutex);
       if ((error= mysql_thread_create(key_thread_delayed_insert,
@@ -2036,6 +2088,7 @@ bool delayed_get_table(THD *thd, TABLE_LIST *table_list)
 		    error));
         mysql_mutex_unlock(&di->mutex);
 	di->unlock();
+        di->thd.mdl_context.release_lock(table_list->mdl_request.ticket);
 	delete di;
 	my_error(ER_CANT_CREATE_THREAD, MYF(ME_FATALERROR), error);
         goto end_create;