diff --git a/boot/uboot/uboot.mk b/boot/uboot/uboot.mk
index a9f9b1bf16..0439ec5e4b 100644
--- a/boot/uboot/uboot.mk
+++ b/boot/uboot/uboot.mk
@@ -391,9 +391,12 @@ UBOOT_ZYNQMP_PMUFW_PATH = $(UBOOT_DL_DIR)/$(notdir $(UBOOT_ZYNQMP_PMUFW))
 else ifneq ($(UBOOT_ZYNQMP_PMUFW),)
 UBOOT_ZYNQMP_PMUFW_PATH = $(shell readlink -f $(UBOOT_ZYNQMP_PMUFW))
 endif
+UBOOT_ZYNQMP_PMUFW_BASENAME = $(basename $(UBOOT_ZYNQMP_PMUFW_PATH))
 
 define UBOOT_ZYNQMP_KCONFIG_PMUFW
-	$(call KCONFIG_SET_OPT,CONFIG_PMUFW_INIT_FILE,"$(UBOOT_ZYNQMP_PMUFW_PATH)")
+	$(if $(filter %.elf,$(UBOOT_ZYNQMP_PMUFW_PATH)),
+		objcopy -O binary -I elf32-little $(UBOOT_ZYNQMP_PMUFW_BASENAME).elf $(UBOOT_ZYNQMP_PMUFW_BASENAME).bin)
+	$(call KCONFIG_SET_OPT,CONFIG_PMUFW_INIT_FILE,"$(UBOOT_ZYNQMP_PMUFW_BASENAME).bin")
 endef
 
 UBOOT_ZYNQMP_PM_CFG = $(call qstrip,$(BR2_TARGET_UBOOT_ZYNQMP_PM_CFG))