Systems and methods for asynchronous mapping of a hot-plugged I/O device associated with a virtual machine. An example method comprises: executing, by a host computer system, a virtual machine managed by a hypervisor, wherein the virtual machine is associated with a hot-pluggable input/output (I/O) device; responsive to detecting removal of the I/O device, unpin a memory buffer associated with the I/O device; and responsive to receiving a signal indicating completion of unpinning the memory buffer, release the I/O device from the hypervisor.