Certain aspects of a method and system for Ethernet congestion management may include transmitting one or more data packets in a network flow from a source node to a destination node. The source node may be enabled to receive one or more congestion notification frames based on detecting congestion at one or more switches in the network flow. A probe packet comprising a departure timestamp, Ts, may be transmitted from the source node to the destination node based on receiving one or more congestion notification frames. The arrival rate, Ra, of one or more data packets at the destination node may be calculated based on an arrival timestamp, Ta, inserted into the probe packet at the destination node. A rate limiter at the source node may be enabled to limit a rate of one or more data packets based on the calculated arrival rate, Ra.