diff --git a/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp b/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp
index 018c97ab617..fb13b9448a1 100644
--- a/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp
+++ b/esphome/components/i2s_audio/speaker/i2s_audio_speaker.cpp
@@ -283,6 +283,14 @@ esp_err_t I2SAudioSpeakerBase::init_i2s_channel_(const i2s_chan_config_t &chan_c
     return ESP_ERR_NO_MEM;
   }
 
+  if (this->i2s_event_queue_ == nullptr || this->write_records_queue_ == nullptr) {
+    ESP_LOGE(TAG, "Failed to allocate I2S event queue(s)");
+    i2s_del_channel(this->tx_handle_);
+    this->tx_handle_ = nullptr;
+    this->parent_->unlock();
+    return ESP_ERR_NO_MEM;
+  }
+
   return ESP_OK;
 }