diff --git a/erpnext/assets/doctype/asset/depreciation.py b/erpnext/assets/doctype/asset/depreciation.py
index f7417cce76c..29679f4cbb0 100644
--- a/erpnext/assets/doctype/asset/depreciation.py
+++ b/erpnext/assets/doctype/asset/depreciation.py
@@ -454,7 +454,7 @@ def restore_asset(asset_name):
 
 
 def depreciate_asset(asset, date):
-	if not asset.calculate_depreciation:
+	if not asset.calculate_depreciation or asset.status == "Fully Depreciated":
 		return
 
 	asset.flags.ignore_validate_update_after_submit = True