The subject matter described herein includes methods, systems, and computer readable media for intelligent optimization of digital signal processor (DSP) resource utilization in a media gateway. In one method, it is determined in a media gateway whether predetermined conditions exist for DSP-less IP-IP switching for a call. In response to determining that the predetermined conditions exist, DSP-less IP-IP switching is implemented for the call in the media gateway. After implementing the DSP-less IP-IP switching for the call, it is determined whether a predetermined event occurs that requires insertion of DSP resources during the call. In response to determining that the predetermined event occurs, the DSP resources are inserted into the call during the call.