diff --git a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp
index b2f307a910..b325b1428c 100644
--- a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp
+++ b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.cpp
@@ -12,6 +12,7 @@
 
 #include "VideoBackends/Vulkan/VulkanContext.h"
 #include "VideoCommon/Constants.h"
+#include "vulkan/vulkan_core.h"
 
 namespace Vulkan
 {
@@ -32,9 +33,9 @@ CommandBufferManager::~CommandBufferManager()
   DestroyCommandBuffers();
 }
 
-bool CommandBufferManager::Initialize()
+bool CommandBufferManager::Initialize(size_t swapchain_image_count)
 {
-  if (!CreateCommandBuffers())
+  if (!CreateCommandBuffers(swapchain_image_count))
     return false;
 
   if (m_use_threaded_submission && !CreateSubmitThread())
@@ -43,7 +44,7 @@ bool CommandBufferManager::Initialize()
   return true;
 }
 
-bool CommandBufferManager::CreateCommandBuffers()
+bool CommandBufferManager::CreateCommandBuffers(size_t swapchain_image_count)
 {
   static constexpr VkSemaphoreCreateInfo semaphore_create_info = {
       VK_STRUCTURE_TYPE_SEMAPHORE_CREATE_INFO, nullptr, 0};
@@ -95,11 +96,17 @@ bool CommandBufferManager::CreateCommandBuffers()
     }
   }
 
-  res = vkCreateSemaphore(device, &semaphore_create_info, nullptr, &m_present_semaphore);
-  if (res != VK_SUCCESS)
+  m_present_semaphores.reserve(swapchain_image_count);
+  for (uint32_t i = 0; i < swapchain_image_count; i++)
   {
-    LOG_VULKAN_ERROR(res, "vkCreateSemaphore failed: ");
-    return false;
+    VkSemaphore present_semaphore;
+    res = vkCreateSemaphore(device, &semaphore_create_info, nullptr, &present_semaphore);
+    if (res != VK_SUCCESS)
+    {
+      LOG_VULKAN_ERROR(res, "vkCreateSemaphore failed: ");
+      return false;
+    }
+    m_present_semaphores.push_back(present_semaphore);
   }
 
   // Activate the first command buffer. BeginCommandBuffer moves forward, so start with the last
@@ -140,7 +147,10 @@ void CommandBufferManager::DestroyCommandBuffers()
     }
   }
 
-  vkDestroySemaphore(device, m_present_semaphore, nullptr);
+  for (VkSemaphore present_semaphore : m_present_semaphores)
+  {
+    vkDestroySemaphore(device, present_semaphore, nullptr);
+  }
 }
 
 VkDescriptorPool CommandBufferManager::CreateDescriptorPool(u32 max_descriptor_sets)
@@ -414,7 +424,7 @@ void CommandBufferManager::SubmitCommandBuffer(u32 command_buffer_index,
   if (present_swap_chain != VK_NULL_HANDLE)
   {
     submit_info.signalSemaphoreCount = 1;
-    submit_info.pSignalSemaphores = &m_present_semaphore;
+    submit_info.pSignalSemaphores = &m_present_semaphores[present_image_index];
   }
 
   VkResult res =
@@ -433,7 +443,7 @@ void CommandBufferManager::SubmitCommandBuffer(u32 command_buffer_index,
     VkPresentInfoKHR present_info = {VK_STRUCTURE_TYPE_PRESENT_INFO_KHR,
                                      nullptr,
                                      1,
-                                     &m_present_semaphore,
+                                     &m_present_semaphores[present_image_index],
                                      1,
                                      &present_swap_chain,
                                      &present_image_index,
diff --git a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h
index bcf310f5a6..90e62bb805 100644
--- a/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h
+++ b/Source/Core/VideoBackends/Vulkan/CommandBufferManager.h
@@ -21,7 +21,7 @@ public:
   explicit CommandBufferManager(bool use_threaded_submission);
   ~CommandBufferManager();
 
-  bool Initialize();
+  bool Initialize(size_t swapchain_image_count);
 
   // These command buffers are allocated per-frame. They are valid until the command buffer
   // is submitted, after that you should call these functions again.
@@ -94,7 +94,7 @@ public:
   void DeferImageViewDestruction(VkImageView object);
 
 private:
-  bool CreateCommandBuffers();
+  bool CreateCommandBuffers(size_t swapchain_image_count);
   void DestroyCommandBuffers();
 
   bool CreateSubmitThread();
@@ -153,7 +153,7 @@ private:
     u32 command_buffer_index;
   };
   Common::WorkQueueThreadSP<PendingCommandBufferSubmit> m_submit_thread;
-  VkSemaphore m_present_semaphore = VK_NULL_HANDLE;
+  std::vector<VkSemaphore> m_present_semaphores = {};
   Common::Flag m_last_present_failed;
   VkResult m_last_present_result = VK_SUCCESS;
   bool m_use_threaded_submission = false;
diff --git a/Source/Core/VideoBackends/Vulkan/VKMain.cpp b/Source/Core/VideoBackends/Vulkan/VKMain.cpp
index e5ecd5a4de..6338e52e3d 100644
--- a/Source/Core/VideoBackends/Vulkan/VKMain.cpp
+++ b/Source/Core/VideoBackends/Vulkan/VKMain.cpp
@@ -187,15 +187,6 @@ bool VideoBackend::Initialize(const WindowSystemInfo& wsi)
 
   UpdateActiveConfig();
 
-  // Create command buffers. We do this separately because the other classes depend on it.
-  g_command_buffer_mgr = std::make_unique<CommandBufferManager>(g_Config.bBackendMultithreading);
-  if (!g_command_buffer_mgr->Initialize())
-  {
-    PanicAlertFmt("Failed to create Vulkan command buffers");
-    Shutdown();
-    return false;
-  }
-
   // Remaining classes are also dependent on object cache.
   g_object_cache = std::make_unique<ObjectCache>();
   if (!g_object_cache->Initialize())
@@ -218,6 +209,17 @@ bool VideoBackend::Initialize(const WindowSystemInfo& wsi)
     }
   }
 
+  // Create command buffers. We do this separately because the other classes depend on it.
+  g_command_buffer_mgr = std::make_unique<CommandBufferManager>(g_Config.bBackendMultithreading);
+  size_t swapchain_image_count =
+      surface != VK_NULL_HANDLE ? swap_chain->GetSwapChainImageCount() : 0;
+  if (!g_command_buffer_mgr->Initialize(swapchain_image_count))
+  {
+    PanicAlertFmt("Failed to create Vulkan command buffers");
+    Shutdown();
+    return false;
+  }
+
   if (!StateTracker::CreateInstance())
   {
     PanicAlertFmt("Failed to create state tracker");
diff --git a/Source/Core/VideoBackends/Vulkan/VKSwapChain.h b/Source/Core/VideoBackends/Vulkan/VKSwapChain.h
index 5f173185a0..17334dbf97 100644
--- a/Source/Core/VideoBackends/Vulkan/VKSwapChain.h
+++ b/Source/Core/VideoBackends/Vulkan/VKSwapChain.h
@@ -39,6 +39,7 @@ public:
   u32 GetHeight() const { return m_height; }
   u32 GetCurrentImageIndex() const { return m_current_swap_chain_image_index; }
   bool IsCurrentImageValid() const { return m_current_swap_chain_image_is_valid; }
+  size_t GetSwapChainImageCount() const { return m_swap_chain_images.size(); }
   VkImage GetCurrentImage() const
   {
     return m_swap_chain_images[m_current_swap_chain_image_index].image;