--- a/kernel/power/swap.c	
+++ a/kernel/power/swap.c	
@@ -6,7 +6,7 @@ 
  *
  * Copyright (C) 1998,2001-2005 Pavel Machek <pavel@ucw.cz>
  * Copyright (C) 2006 Rafael J. Wysocki <rjw@sisk.pl>
- * Copyright (C) 2010 Bojan Smojver <bojan@rexursive.com>
+ * Copyright (C) 2010-2012 Bojan Smojver <bojan@rexursive.com>
  *
  * This file is released under the GPLv2.
  *
@@ -51,6 +51,15 @@ 
 
 #define MAP_PAGE_ENTRIES	(PAGE_SIZE / sizeof(sector_t) - 1)
 
+/*
+ * Number of pages required to be kept free while writing the image. Always
+ * three quarters of all available pages before the writing starts.
+ */
+static inline unsigned long reqd_free_pages(void)
+{
+	return (nr_free_pages() / 4) * 3;
+}
+
 struct swap_map_page {
 	sector_t entries[MAP_PAGE_ENTRIES];
 	sector_t next_swap;
@@ -72,7 +81,7 @@ struct swap_map_handle {
 	sector_t cur_swap;
 	sector_t first_sector;
 	unsigned int k;
-	unsigned long nr_free_pages, written;
+	unsigned long reqd_free_pages;
 	u32 crc32;
 };
 
@@ -316,8 +325,7 @@ static int get_swap_writer(struct swap_map_handle *handle)
 		goto err_rel;
 	}
 	handle->k = 0;
-	handle->nr_free_pages = nr_free_pages() >> 1;
-	handle->written = 0;
+	handle->reqd_free_pages = reqd_free_pages();
 	handle->first_sector = handle->cur_swap;
 	return 0;
 err_rel:
@@ -352,11 +360,15 @@ static int swap_write_page(struct swap_map_handle *handle, void *buf,
 		handle->cur_swap = offset;
 		handle->k = 0;
 	}
-	if (bio_chain && ++handle->written > handle->nr_free_pages) {
+	if (bio_chain && nr_free_pages() <= handle->reqd_free_pages) {
 		error = hib_wait_on_bio_chain(bio_chain);
 		if (error)
 			goto out;
-		handle->written = 0;
+		/*
+		 * Recalculate the number of required free pages, to make sure
+		 * we never take more than a quarter.
+		 */
+		handle->reqd_free_pages = reqd_free_pages();
 	}
  out:
 	return error;
@@ -404,7 +416,7 @@ static int swap_writer_finish(struct swap_map_handle *handle,
 #define LZO_THREADS	3
 
 /* Maximum number of pages for read buffering. */
-#define LZO_READ_PAGES	(MAP_PAGE_ENTRIES * 8)
+#define LZO_READ_PAGES	8192
 
 
 /**
@@ -615,10 +627,10 @@ static int save_image_lzo(struct swap_map_handle *handle,
 	}
 
 	/*
-	 * Adjust number of free pages after all allocations have been done.
-	 * We don't want to run out of pages when writing.
+	 * Adjust the number of required free pages after all allocations have
+	 * been done. We don't want to run out of pages when writing.
 	 */
-	handle->nr_free_pages = nr_free_pages() >> 1;
+	handle->reqd_free_pages = reqd_free_pages();
 
 	/*
 	 * Start the CRC32 thread.
@@ -1129,8 +1141,9 @@ static int load_image_lzo(struct swap_map_handle *handle,
 
 	/*
 	 * Adjust number of pages for read buffering, in case we are short.
+	 * Never take more than a quarter of all available pages.
 	 */
-	read_pages = (nr_free_pages() - snapshot_get_image_size()) >> 1;
+	read_pages = (nr_free_pages() - snapshot_get_image_size()) / 4;
 	read_pages = clamp_val(read_pages, LZO_CMP_PAGES, LZO_READ_PAGES);
 
 	for (i = 0; i < read_pages; i++) {