Methods and systems for processing input/output (“I/O”) requests in a networked storage environment are disclosed. One method included polling, by a processor, a receive queue at a first polling rate to identify I/O requests received by the receive queue to read data from or write data to a storage device; determining, by the processor that a hit rate has reached a threshold value, the hit rate indicating a number of pending I/O requests at the receive queue, in response to the receive queue being polled at the first polling rate; and modifying, by the processor, the first polling rate to a second polling rate, in response to the hit rate reaching the threshold value.