diff --git a/arch/arc/Kconfig b/arch/arc/Kconfig
index bd204bfa29edd52f8e4d43c989ab07024e66ab98..bde3e558d8bc8682cd5f860f18eec7acc1aefd7c 100644
--- a/arch/arc/Kconfig
+++ b/arch/arc/Kconfig
@@ -410,15 +410,9 @@ config ARC_HAS_DIV_REM
 	bool "Insn: div, divu, rem, remu"
 	default y
 
-config ARC_HAS_RTC
-	bool "Local 64-bit r/o cycle counter"
-	default n
-	depends on !SMP
-
-config ARC_HAS_GFRC
-	bool "SMP synchronized 64-bit cycle counter"
+config ARC_TIMERS_64BIT
+	bool "64-bit r/o cycle counters RTC (up) and GFRC (smp)"
 	default y
-	depends on SMP
 
 config ARC_NUMBER_OF_INTERRUPTS
 	int "Number of interrupts"
diff --git a/arch/arc/configs/nsimosci_hs_smp_defconfig b/arch/arc/configs/nsimosci_hs_smp_defconfig
index 6da71ba253a932275c133e55fe68fd19c7ec4379..155add7761ed63080bd81e830c819483fb55ee61 100644
--- a/arch/arc/configs/nsimosci_hs_smp_defconfig
+++ b/arch/arc/configs/nsimosci_hs_smp_defconfig
@@ -21,7 +21,7 @@ CONFIG_MODULES=y
 CONFIG_ARC_PLAT_SIM=y
 CONFIG_ISA_ARCV2=y
 CONFIG_SMP=y
-# CONFIG_ARC_HAS_GFRC is not set
+# CONFIG_ARC_TIMERS_64BIT is not set
 CONFIG_ARC_BUILTIN_DTB_NAME="nsimosci_hs_idu"
 CONFIG_PREEMPT=y
 # CONFIG_COMPACTION is not set
diff --git a/arch/arc/configs/vdk_hs38_smp_defconfig b/arch/arc/configs/vdk_hs38_smp_defconfig
index 969b206d6c67bbbb72ad80edb104946b81197193..573028f19de794b7794a04befc54dfc7e77ff8d1 100644
--- a/arch/arc/configs/vdk_hs38_smp_defconfig
+++ b/arch/arc/configs/vdk_hs38_smp_defconfig
@@ -15,7 +15,7 @@ CONFIG_ARC_PLAT_AXS10X=y
 CONFIG_AXS103=y
 CONFIG_ISA_ARCV2=y
 CONFIG_SMP=y
-# CONFIG_ARC_HAS_GFRC is not set
+# CONFIG_ARC_TIMERS_64BIT is not set
 CONFIG_ARC_UBOOT_SUPPORT=y
 CONFIG_ARC_BUILTIN_DTB_NAME="vdk_hs38_smp"
 CONFIG_PREEMPT=y
diff --git a/arch/arc/kernel/setup.c b/arch/arc/kernel/setup.c
index 0385df77a69738f06a45d45553b1c0d6e0980e30..c6914acb68a9188d8c1a71e686014cbb8d82d757 100644
--- a/arch/arc/kernel/setup.c
+++ b/arch/arc/kernel/setup.c
@@ -234,11 +234,11 @@ static char *arc_cpu_mumbojumbo(int cpu_id, char *buf, int len)
 		       is_isa_arcompact() ? "ARCompact" : "ARCv2",
 		       IS_AVAIL1(cpu->isa.be, "[Big-Endian]"));
 
-	n += scnprintf(buf + n, len - n, "Timers\t\t: %s%s%s%s\nISA Extn\t: ",
+	n += scnprintf(buf + n, len - n, "Timers\t\t: %s%s%s%s%s%s\nISA Extn\t: ",
 		       IS_AVAIL1(cpu->extn.timer0, "Timer0 "),
 		       IS_AVAIL1(cpu->extn.timer1, "Timer1 "),
-		       IS_AVAIL2(cpu->extn.rtc, "Local-64-bit-Ctr ",
-				 CONFIG_ARC_HAS_RTC));
+		       IS_AVAIL2(cpu->extn.rtc, "RTC [UP 64-bit] ", CONFIG_ARC_TIMERS_64BIT),
+		       IS_AVAIL2(cpu->extn.gfrc, "GFRC [SMP 64-bit] ", CONFIG_ARC_TIMERS_64BIT));
 
 	n += i = scnprintf(buf + n, len - n, "%s%s%s%s%s",
 			   IS_AVAIL2(cpu->isa.atomic, "atomic ", CONFIG_ARC_HAS_LLSC),
diff --git a/arch/arc/kernel/time.c b/arch/arc/kernel/time.c
index d3f3750a0d2d648e8a66a9c063cada5d117294b0..4d0c75b86b100ecc3f210c6df1d19a024daa9668 100644
--- a/arch/arc/kernel/time.c
+++ b/arch/arc/kernel/time.c
@@ -81,7 +81,7 @@ static int noinline arc_get_timer_clk(struct device_node *node)
 
 /********** Clock Source Device *********/
 
-#ifdef CONFIG_ARC_HAS_GFRC
+#ifdef CONFIG_ARC_TIMERS_64BIT
 
 static cycle_t arc_read_gfrc(struct clocksource *cs)
 {
@@ -128,10 +128,6 @@ static int __init arc_cs_setup_gfrc(struct device_node *node)
 }
 CLOCKSOURCE_OF_DECLARE(arc_gfrc, "snps,archs-timer-gfrc", arc_cs_setup_gfrc);
 
-#endif
-
-#ifdef CONFIG_ARC_HAS_RTC
-
 #define AUX_RTC_CTRL	0x103
 #define AUX_RTC_LOW	0x104
 #define AUX_RTC_HIGH	0x105