diff --git a/src/cmp/cmplam.lsp b/src/cmp/cmplam.lsp
index a4c567332..42b163cc2 100644
--- a/src/cmp/cmplam.lsp
+++ b/src/cmp/cmplam.lsp
@@ -640,8 +640,6 @@ The function thus belongs to the type of functions that ecl_make_cfun accepts."
                              `(list ,@arguments))
                          (if apply-p apply-var nil)))
             let-vars))
-    (loop while aux-vars
-       do (push (list (pop aux-vars) (pop aux-vars)) let-vars))
     (do ((scan (cdr keywords) (cddddr scan)))
         ((endp scan))
       (let ((keyword (first scan))
@@ -660,6 +658,8 @@ The function thus belongs to the type of functions that ecl_make_cfun accepts."
                let-vars))))
     (when (and key-flag (not allow-other-keys))
       (push `(si::check-keyword ,rest ',all-keys) extra-stmts))
+    (loop while aux-vars
+       do (push (list (pop aux-vars) (pop aux-vars)) let-vars))
     (values (nreverse (delete-if-not #'first let-vars))
             `(,@(and apply-var `((declare (ignorable ,apply-var))))
               ,@(multiple-value-bind (decl body)
diff --git a/src/tests/normal-tests/compiler.lsp b/src/tests/normal-tests/compiler.lsp
index e97577604..2291b89a4 100644
--- a/src/tests/normal-tests/compiler.lsp
+++ b/src/tests/normal-tests/compiler.lsp
@@ -2013,3 +2013,27 @@
              (multiple-value-list
               (funcall
                (compile nil '(lambda () (values (values)))))))))
+
+;;; Date 2021-03-25
+;;; URL: https://gitlab.com/embeddable-common-lisp/ecl/-/issues/633
+;;; Description
+;;;
+;;;     The order of function arguments was wrong when inlining a
+;;;     function with &key and &aux arguments. This test checks
+;;;     correct ordering in general.
+(test cmp.0086.inline-ordering-function-arguments
+  (is (equal (multiple-value-list
+              (funcall (compile nil '(lambda ()
+                                      (flet ((f (a
+                                                 &optional (b a)
+                                                 &rest c
+                                                 &key (d c)
+                                                 &aux (e d))
+                                               (list a b c d e)))
+                                        (declare (inline f))
+                                        (values (f 1)
+                                                (f 1 2)
+                                                (f 1 2 :d 3)))))))
+             '((1 1 nil nil nil)
+               (1 2 nil nil nil)
+               (1 2 (:d 3) 3 3)))))