diff --git a/include/asm/fstack.h b/include/asm/fstack.h
index 0c0c74c2..f3e8a878 100644
--- a/include/asm/fstack.h
+++ b/include/asm/fstack.h
@@ -35,6 +35,8 @@ struct sContext {
 	uint32_t nREPTBlockSize;
 };
 
+extern unsigned int nMaxFileStackDepth;
+
 void fstk_RunInclude(char *tzFileName);
 void fstk_RunMacroArg(int32_t s);
 void fstk_Init(char *s);
diff --git a/src/asm/fstack.c b/src/asm/fstack.c
index 3a84877e..b471cdd6 100644
--- a/src/asm/fstack.c
+++ b/src/asm/fstack.c
@@ -28,6 +28,8 @@
 #include "types.h"
 
 static struct sContext *pFileStack;
+static unsigned int nFileStackDepth;
+unsigned int nMaxFileStackDepth;
 static struct sSymbol *pCurrentMacro;
 static YY_BUFFER_STATE CurrentFlexHandle;
 static FILE *pCurrentFile;
@@ -51,6 +53,8 @@ uint32_t ulMacroReturnValue;
 #define STAT_isMacroArg		2
 #define STAT_isREPTBlock	3
 
+/* Max context stack size */
+
 /*
  * Context push and pop
  */
@@ -58,6 +62,9 @@ static void pushcontext(void)
 {
 	struct sContext **ppFileStack;
 
+	if (++nFileStackDepth > nMaxFileStackDepth)
+		fatalerror("Recursion limit (%d) exceeded", nMaxFileStackDepth);
+
 	ppFileStack = &pFileStack;
 	while (*ppFileStack)
 		ppFileStack = &((*ppFileStack)->pNext);
@@ -158,6 +165,8 @@ static int32_t popcontext(void)
 		fatalerror("%s: Internal error.", __func__);
 	}
 
+	nFileStackDepth--;
+
 	free(*ppLastFile);
 	*ppLastFile = NULL;
 	yy_switch_to_buffer(CurrentFlexHandle);
@@ -417,6 +426,7 @@ void fstk_Init(char *pFileName)
 		if (pCurrentFile == NULL)
 			err(1, "Unable to open file '%s'", pFileName);
 	}
+	nFileStackDepth = 0;
 
 	nMacroCount = 0;
 	nCurrentStatus = STAT_isInclude;
diff --git a/src/asm/main.c b/src/asm/main.c
index c2c79e3e..0d928e92 100644
--- a/src/asm/main.c
+++ b/src/asm/main.c
@@ -315,6 +315,8 @@ int main(int argc, char *argv[])
 
 	/* yydebug=1; */
 
+	nMaxFileStackDepth = 64;
+
 	DefaultOptions.gbgfx[0] = '0';
 	DefaultOptions.gbgfx[1] = '1';
 	DefaultOptions.gbgfx[2] = '2';
@@ -332,7 +334,7 @@ int main(int argc, char *argv[])
 
 	newopt = CurrentOptions;
 
-	while ((ch = getopt(argc, argv, "b:D:Eg:hi:LM:o:p:Vvw")) != -1) {
+	while ((ch = getopt(argc, argv, "b:D:Eg:hi:LM:o:p:r:Vvw")) != -1) {
 		switch (ch) {
 		case 'b':
 			if (strlen(optarg) == 2) {
@@ -386,6 +388,12 @@ int main(int argc, char *argv[])
 				errx(1, "Argument for option 'p' must be between 0 and 0xFF");
 
 			break;
+		case 'r':
+			nMaxFileStackDepth = strtoul(optarg, &ep, 0);
+
+			if (optarg[0] == '\0' || *ep != '\0')
+				errx(1, "Invalid argument for option 'r'");
+			break;
 		case 'V':
 			printf("rgbasm %s\n", get_package_version_string());
 			exit(0);