diff --git a/rpcs3/rpcs3qt/gs_frame.cpp b/rpcs3/rpcs3qt/gs_frame.cpp
index 3601a14274..c3f6ac6d61 100644
--- a/rpcs3/rpcs3qt/gs_frame.cpp
+++ b/rpcs3/rpcs3qt/gs_frame.cpp
@@ -262,10 +262,18 @@ void gs_frame::toggle_fullscreen()
 	{
 		if (visibility() == FullScreen)
 		{
-			setVisibility(Windowed);
+			// Change to the last recorded visibility. Sanitize it just in case.
+			if (m_last_visibility != Visibility::Maximized && m_last_visibility != Visibility::Windowed)
+			{
+				m_last_visibility = Visibility::Windowed;
+			}
+			setVisibility(m_last_visibility);
 		}
 		else
 		{
+			// Backup visibility for exiting fullscreen mode later. Don't do this in the visibilityChanged slot,
+			// since entering fullscreen from maximized will first change the visibility to windowed.
+			m_last_visibility = visibility();
 			setVisibility(FullScreen);
 		}
 	});
diff --git a/rpcs3/rpcs3qt/gs_frame.h b/rpcs3/rpcs3qt/gs_frame.h
index c42d35f9c4..fbdf755b87 100644
--- a/rpcs3/rpcs3qt/gs_frame.h
+++ b/rpcs3/rpcs3qt/gs_frame.h
@@ -40,6 +40,7 @@ private:
 
 	u64 m_frames = 0;
 	std::string m_window_title;
+	QWindow::Visibility m_last_visibility = Visibility::Windowed;
 	atomic_t<bool> m_show_mouse = true;
 	bool m_disable_mouse = false;
 	bool m_disable_kb_hotkeys = false;