Provided are a system and article of manufacture for removing alias addresses from an alias address pool. A plurality of alias addresses are assigned to an alias address pool, wherein the alias addresses in the alias address pool are capable of being dynamically assigned to a device to service I/O requests to the device. An operation is initiated by a process to remove a specified alias address from the alias address pool. An indicator is set to prevent additional processes from removing one alias address from the alias address pool in response to initiating the operation. The specified alias address is removed from the alias address pool.