diff --git a/components/esp32/Kconfig b/components/esp32/Kconfig
index afa3e5618..4ac1685d0 100644
--- a/components/esp32/Kconfig
+++ b/components/esp32/Kconfig
@@ -45,6 +45,15 @@ config SPIRAM_BOOT_INIT
         have specific requirements, you'll want to leave this enabled so memory allocated
         during boot-up can also be placed in SPI RAM.
 
+config SPIRAM_IGNORE_NOTFOUND
+    bool "Ignore PSRAM when not found"
+    default "n"
+    depends on SPIRAM_BOOT_INIT
+    help
+        Normally, if psram initialization is enabled during compile time but not found at runtime, it
+        is seen as an error making the ESP32 panic. If this is enabled, the ESP32 will keep on
+        running but will not add the (non-existing) RAM to any allocator.
+
 choice SPIRAM_USE
     prompt "SPI RAM access method"
     default SPIRAM_USE_MALLOC
diff --git a/components/esp32/cpu_start.c b/components/esp32/cpu_start.c
index b66201c4f..7f0e1573d 100644
--- a/components/esp32/cpu_start.c
+++ b/components/esp32/cpu_start.c
@@ -102,6 +102,9 @@ struct object { long placeholder[ 10 ]; };
 void __register_frame_info (const void *begin, struct object *ob);
 extern char __eh_frame[];
 
+//If CONFIG_SPIRAM_IGNORE_NOTFOUND is set and external RAM is not found or errors out on testing, this is set to false.
+static bool s_spiram_okay=true;
+
 /*
  * We arrive here after the bootloader finished loading the program from flash. The hardware is mostly uninitialized,
  * and the app CPU is in reset. We do have a stack, so we can do the initialization in C.
@@ -147,8 +150,13 @@ void IRAM_ATTR call_start_cpu0()
 #if CONFIG_SPIRAM_BOOT_INIT
     esp_spiram_init_cache();
     if (esp_spiram_init() != ESP_OK) {
+#if CONFIG_SPIRAM_IGNORE_NOTFOUND
+        ESP_EARLY_LOGI(TAG, "Failed to init external RAM; continuing without it.");
+        s_spiram_okay = false;
+#else
         ESP_EARLY_LOGE(TAG, "Failed to init external RAM!");
         abort();
+#endif
     }
 #endif
 
@@ -182,10 +190,12 @@ void IRAM_ATTR call_start_cpu0()
 
 
 #if CONFIG_SPIRAM_MEMTEST
-    bool ext_ram_ok=esp_spiram_test();
-    if (!ext_ram_ok) {
-        ESP_EARLY_LOGE(TAG, "External RAM failed memory test!");
-        abort();
+    if (s_spiram_okay) {
+        bool ext_ram_ok=esp_spiram_test();
+        if (!ext_ram_ok) {
+            ESP_EARLY_LOGE(TAG, "External RAM failed memory test!");
+            abort();
+        }
     }
 #endif
 
@@ -252,23 +262,25 @@ void start_cpu0_default(void)
     esp_err_t err;
     esp_setup_syscall_table();
 
+    if (s_spiram_okay) {
 #if CONFIG_SPIRAM_BOOT_INIT && (CONFIG_SPIRAM_USE_CAPS_ALLOC || CONFIG_SPIRAM_USE_MALLOC)
-    esp_err_t r=esp_spiram_add_to_heapalloc();
-    if (r != ESP_OK) {
-        ESP_EARLY_LOGE(TAG, "External RAM could not be added to heap!");
-        abort();
-    }
+        esp_err_t r=esp_spiram_add_to_heapalloc();
+        if (r != ESP_OK) {
+            ESP_EARLY_LOGE(TAG, "External RAM could not be added to heap!");
+            abort();
+        }
 #if CONFIG_SPIRAM_MALLOC_RESERVE_INTERNAL
-    r=esp_spiram_reserve_dma_pool(CONFIG_SPIRAM_MALLOC_RESERVE_INTERNAL);
-    if (r != ESP_OK) {
-        ESP_EARLY_LOGE(TAG, "Could not reserve internal/DMA pool!");
-        abort();
-    }
+        r=esp_spiram_reserve_dma_pool(CONFIG_SPIRAM_MALLOC_RESERVE_INTERNAL);
+        if (r != ESP_OK) {
+            ESP_EARLY_LOGE(TAG, "Could not reserve internal/DMA pool!");
+            abort();
+        }
 #endif
 #if CONFIG_SPIRAM_USE_MALLOC
-    heap_caps_malloc_extmem_enable(CONFIG_SPIRAM_MALLOC_ALWAYSINTERNAL);
+        heap_caps_malloc_extmem_enable(CONFIG_SPIRAM_MALLOC_ALWAYSINTERNAL);
 #endif
 #endif
+    }
 
 //Enable trace memory and immediately start trace.
 #if CONFIG_ESP32_TRAX
diff --git a/components/esp32/spiram.c b/components/esp32/spiram.c
index d07444a92..dccc3bc33 100644
--- a/components/esp32/spiram.c
+++ b/components/esp32/spiram.c
@@ -108,7 +108,9 @@ esp_err_t esp_spiram_init()
     esp_err_t r;
     r = psram_enable(PSRAM_SPEED, PSRAM_MODE);
     if (r != ESP_OK) {
+#if CONFIG_SPIRAM_IGNORE_NOTFOUND
         ESP_EARLY_LOGE(TAG, "SPI RAM enabled but initialization failed. Bailing out.");
+#endif
         return r;
     }