diff --git a/RxSwift/Observables/Zip+Collection.swift b/RxSwift/Observables/Zip+Collection.swift
index 7b831235d..637d02e3f 100644
--- a/RxSwift/Observables/Zip+Collection.swift
+++ b/RxSwift/Observables/Zip+Collection.swift
@@ -42,11 +42,30 @@ private final class ZipCollectionTypeSink<Collection: Swift.Collection, Observer
     typealias Parent = ZipCollectionType<Collection, Result>
     typealias SourceElement = Collection.Element.Element
 
+    private struct Iterate: InvocableType {
+        let action: () -> Void
+
+        func invoke() {
+            action()
+        }
+    }
+
+    private enum CalloutAction {
+        case none
+        case disposeSubscription(SingleAssignmentDisposable)
+        case evaluate([SourceElement])
+        case forwardCompletedAndDispose
+        case forwardErrorAndDispose(Swift.Error)
+    }
+
     private let parent: Parent
 
+    // Serialize event processing while keeping observer and disposal callouts out of `lock`.
+    private let gate = AsyncLock<Iterate>()
     private let lock = RecursiveLock()
 
     // state
+    private var isStopped = false
     private var numberOfValues = 0
     private var values: [Queue<SourceElement>]
     private var isDone: [Bool]
@@ -68,7 +87,22 @@ private final class ZipCollectionTypeSink<Collection: Swift.Collection, Observer
     }
 
     func on(_ event: Event<SourceElement>, atIndex: Int) {
-        lock.lock(); defer { self.lock.unlock() }
+        gate.invoke(Iterate(action: { self.synchronized_on(event, atIndex: atIndex) }))
+    }
+
+    private func synchronized_on(_ event: Event<SourceElement>, atIndex: Int) {
+        let action = lock.performLocked {
+            nextAction(for: event, atIndex: atIndex)
+        }
+
+        perform(action)
+    }
+
+    private func nextAction(for event: Event<SourceElement>, atIndex: Int) -> CalloutAction {
+        if isStopped || isDisposed {
+            return .none
+        }
+
         switch event {
         case let .next(element):
             values[atIndex].enqueue(element)
@@ -79,52 +113,93 @@ private final class ZipCollectionTypeSink<Collection: Swift.Collection, Observer
 
             if numberOfValues < parent.count {
                 if numberOfDone == parent.count - 1 {
-                    forwardOn(.completed)
-                    dispose()
+                    isStopped = true
+                    return .forwardCompletedAndDispose
                 }
-                return
+                return .none
             }
 
-            do {
-                var arguments = [SourceElement]()
-                arguments.reserveCapacity(parent.count)
+            var arguments = [SourceElement]()
+            arguments.reserveCapacity(parent.count)
 
-                // recalculate number of values
-                numberOfValues = 0
+            // recalculate number of values
+            numberOfValues = 0
 
-                for i in 0 ..< values.count {
-                    arguments.append(values[i].dequeue()!)
-                    if !values[i].isEmpty {
-                        numberOfValues += 1
-                    }
+            for i in 0 ..< values.count {
+                arguments.append(values[i].dequeue()!)
+                if !values[i].isEmpty {
+                    numberOfValues += 1
                 }
-
-                let result = try parent.resultSelector(arguments)
-                forwardOn(.next(result))
-            } catch {
-                forwardOn(.error(error))
-                dispose()
             }
 
+            return .evaluate(arguments)
+
         case let .error(error):
-            forwardOn(.error(error))
-            dispose()
+            isStopped = true
+            return .forwardErrorAndDispose(error)
 
         case .completed:
             if isDone[atIndex] {
-                return
+                return .none
             }
 
             isDone[atIndex] = true
             numberOfDone += 1
 
             if numberOfDone == parent.count {
-                forwardOn(.completed)
-                dispose()
+                isStopped = true
+                return .forwardCompletedAndDispose
             } else {
-                subscriptions[atIndex].dispose()
+                return .disposeSubscription(subscriptions[atIndex])
+            }
+        }
+    }
+
+    private func perform(_ action: CalloutAction) {
+        switch action {
+        case .none:
+            return
+        case let .disposeSubscription(subscription):
+            subscription.dispose()
+        case let .evaluate(arguments):
+            if isDisposed {
+                return
             }
+
+            do {
+                let result = try parent.resultSelector(arguments)
+                forwardOn(.next(result))
+            } catch {
+                forwardErrorAndDispose(error)
+            }
+        case .forwardCompletedAndDispose:
+            forwardOn(.completed)
+            dispose()
+        case let .forwardErrorAndDispose(error):
+            forwardOn(.error(error))
+            dispose()
+        }
+    }
+
+    private func forwardErrorAndDispose(_ error: Swift.Error) {
+        let shouldTerminate = lock.performLocked { () -> Bool in
+            if isStopped || isDisposed {
+                return false
+            }
+
+            isStopped = true
+            return true
         }
+
+        if shouldTerminate {
+            forwardOn(.error(error))
+            dispose()
+        }
+    }
+
+    override func dispose() {
+        gate.dispose()
+        super.dispose()
     }
 
     func run() -> Disposable {