diff --git a/lib/timers.js b/lib/timers.js
index ca0c201ec97..7f589d4b0d2 100644
--- a/lib/timers.js
+++ b/lib/timers.js
@@ -406,6 +406,11 @@ var unrefList, unrefTimer;
 
 function _makeTimerTimeout(timer) {
   var domain = timer.domain;
+  var msecs = timer._idleTimeout;
+
+  // Timer has been unenrolled by anoter timer that fired at the same time,
+  // so don't make it timeout.
+  if (!msecs || msecs < 0) return;
 
   if (!timer._onTimeout) return;
 
diff --git a/test/simple/test-timers-unref-remove-other-unref-timers-only-one-fires.js b/test/simple/test-timers-unref-remove-other-unref-timers-only-one-fires.js
new file mode 100644
index 00000000000..5b4280f427b
--- /dev/null
+++ b/test/simple/test-timers-unref-remove-other-unref-timers-only-one-fires.js
@@ -0,0 +1,56 @@
+// Copyright Joyent, Inc. and other Node contributors.
+//
+// Permission is hereby granted, free of charge, to any person obtaining a
+// copy of this software and associated documentation files (the
+// "Software"), to deal in the Software without restriction, including
+// without limitation the rights to use, copy, modify, merge, publish,
+// distribute, sublicense, and/or sell copies of the Software, and to permit
+// persons to whom the Software is furnished to do so, subject to the
+// following conditions:
+//
+// The above copyright notice and this permission notice shall be included
+// in all copies or substantial portions of the Software.
+//
+// THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS
+// OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF
+// MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN
+// NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM,
+// DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR
+// OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE
+// USE OR OTHER DEALINGS IN THE SOFTWARE.
+
+/*
+ * The goal of this test is to make sure that, after the regression introduced
+ * by 934bfe23a16556d05bfb1844ef4d53e8c9887c3d, the fix preserves the following
+ * behavior of unref timers: if two timers are scheduled to fire at the same
+ * time, if one unenrolls the other one in its _onTimeout callback, the other
+ * one will *not* fire.
+ */
+var timers = require('timers');
+var assert = require('assert');
+
+var nbTimersFired = 0;
+
+var foo = new function() {
+  this._onTimeout = function() {
+    ++nbTimersFired;
+    timers.unenroll(bar);
+  };
+}();
+
+var bar = new function() {
+  this._onTimeout = function() {
+    ++nbTimersFired;
+    timers.unenroll(foo);
+  };
+}();
+
+timers.enroll(bar, 1);
+timers._unrefActive(bar);
+
+timers.enroll(foo, 1);
+timers._unrefActive(foo);
+
+setTimeout(function() {
+  assert.notEqual(nbTimersFired, 2);
+}, 20);