diff --git a/src/tests/functional/plugin/cpu/shared_tests_instances/single_layer_tests/shape_of.cpp b/src/tests/functional/plugin/cpu/shared_tests_instances/single_layer_tests/shape_of.cpp
index 42ee9c1699f..9f960f5edef 100644
--- a/src/tests/functional/plugin/cpu/shared_tests_instances/single_layer_tests/shape_of.cpp
+++ b/src/tests/functional/plugin/cpu/shared_tests_instances/single_layer_tests/shape_of.cpp
@@ -11,12 +11,14 @@ using namespace LayerTestsDefinitions;
 
 namespace {
     const std::vector<InferenceEngine::Precision> netPrecisions = {
+            InferenceEngine::Precision::FP32,
             InferenceEngine::Precision::I32
     };
 
     INSTANTIATE_TEST_SUITE_P(smoke_Check, ShapeOfLayerTest,
                             ::testing::Combine(
                                     ::testing::ValuesIn(netPrecisions),
+                                    ::testing::Values(InferenceEngine::Precision::I64),
                                     ::testing::Values(std::vector<size_t>({10, 10, 10})),
                                     ::testing::Values(CommonTestUtils::DEVICE_CPU)),
                             ShapeOfLayerTest::getTestCaseName);
diff --git a/src/tests/functional/plugin/cpu/shared_tests_instances/skip_tests_config.cpp b/src/tests/functional/plugin/cpu/shared_tests_instances/skip_tests_config.cpp
index ba76202b986..0ab01ee68c1 100644
--- a/src/tests/functional/plugin/cpu/shared_tests_instances/skip_tests_config.cpp
+++ b/src/tests/functional/plugin/cpu/shared_tests_instances/skip_tests_config.cpp
@@ -32,7 +32,6 @@ std::vector<std::string> disabledTestPatterns() {
         // TODO: Issue: 63469
         R"(.*ConversionLayerTest.*ConvertLike.*)",
         // TODO: Issue: 34055
-        R"(.*ShapeOfLayerTest.*)",
         R"(.*ReluShapeOfSubgraphTest.*)",
         // TODO: Issue: 43314
         R"(.*Broadcast.*mode=BIDIRECTIONAL.*inNPrec=BOOL.*)",
diff --git a/src/tests/functional/shared_test_classes/include/shared_test_classes/single_layer/shape_of.hpp b/src/tests/functional/shared_test_classes/include/shared_test_classes/single_layer/shape_of.hpp
index 482d4a9bb59..b45baeb3069 100644
--- a/src/tests/functional/shared_test_classes/include/shared_test_classes/single_layer/shape_of.hpp
+++ b/src/tests/functional/shared_test_classes/include/shared_test_classes/single_layer/shape_of.hpp
@@ -18,12 +18,19 @@ typedef std::tuple<
         InferenceEngine::Precision,         // Network precision
         std::vector<size_t>,                // Input shapes
         std::string                        // Device name
+> shapeOfParamsCommon;
+
+typedef std::tuple<
+        InferenceEngine::Precision,         // Network precision
+        InferenceEngine::Precision,          // Output precision
+        std::vector<size_t>,                // Input shapes
+        std::string                        // Device name
 > shapeOfParams;
 
 class ShapeOfLayerTest : public testing::WithParamInterface<shapeOfParams>,
                          virtual public LayerTestsUtils::LayerTestsCommon {
 public:
-    static std::string getTestCaseName(const testing::TestParamInfo<shapeOfParams>& obj);
+    static std::string getTestCaseName(testing::TestParamInfo<ParamType> obj);
 
 protected:
     void SetUp() override;
diff --git a/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/relu_shape_of.hpp b/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/relu_shape_of.hpp
index f7cc92d22a9..d56ebebcafa 100644
--- a/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/relu_shape_of.hpp
+++ b/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/relu_shape_of.hpp
@@ -16,10 +16,10 @@
 
 namespace SubgraphTestsDefinitions {
 
-class ReluShapeOfSubgraphTest : public testing::WithParamInterface<LayerTestsDefinitions::shapeOfParams>,
+class ReluShapeOfSubgraphTest : public testing::WithParamInterface<LayerTestsDefinitions::shapeOfParamsCommon>,
         virtual public LayerTestsUtils::LayerTestsCommon {
 public:
-    static std::string getTestCaseName(const testing::TestParamInfo<LayerTestsDefinitions::shapeOfParams>& obj);
+    static std::string getTestCaseName(const testing::TestParamInfo<LayerTestsDefinitions::shapeOfParamsCommon>& obj);
 protected:
     void SetUp() override;
 };
diff --git a/src/tests/functional/shared_test_classes/src/single_layer/shape_of.cpp b/src/tests/functional/shared_test_classes/src/single_layer/shape_of.cpp
index 0ebaf8c52af..ebb8d3fbe97 100644
--- a/src/tests/functional/shared_test_classes/src/single_layer/shape_of.cpp
+++ b/src/tests/functional/shared_test_classes/src/single_layer/shape_of.cpp
@@ -6,14 +6,16 @@
 
 namespace LayerTestsDefinitions {
 
-    std::string ShapeOfLayerTest::getTestCaseName(const testing::TestParamInfo<shapeOfParams>& obj) {
+    std::string ShapeOfLayerTest::getTestCaseName(testing::TestParamInfo<shapeOfParams> obj) {
         InferenceEngine::SizeVector inputShapes;
         InferenceEngine::Precision inputPrecision;
+        InferenceEngine::Precision outputPrecision;
         std::string targetDevice;
-        std::tie(inputPrecision, inputShapes, targetDevice) = obj.param;
+        std::tie(inputPrecision, outputPrecision, inputShapes, targetDevice) = obj.param;
         std::ostringstream result;
         result << "IS=" << CommonTestUtils::vec2str(inputShapes) << "_";
         result << "Precision=" << inputPrecision.name() << "_";
+        result << "Output Precision=" << outputPrecision.name() << "_";
         result << "TargetDevice=" << targetDevice;
         return result.str();
     }
@@ -21,11 +23,12 @@ namespace LayerTestsDefinitions {
     void ShapeOfLayerTest::SetUp() {
         InferenceEngine::SizeVector inputShapes;
         InferenceEngine::Precision inputPrecision;
-        std::tie(inputPrecision, inputShapes, targetDevice) = this->GetParam();
+        std::tie(inputPrecision, outPrc, inputShapes, targetDevice) = this->GetParam();
         auto inType = FuncTestUtils::PrecisionUtils::convertIE2nGraphPrc(inputPrecision);
+        auto outType = FuncTestUtils::PrecisionUtils::convertIE2nGraphPrc(outPrc);
         auto param = ngraph::builder::makeParams(inType, {inputShapes});
         auto paramOuts = ngraph::helpers::convert2OutputVector(ngraph::helpers::castOps2Nodes<ngraph::opset3::Parameter>(param));
-        auto shapeOf = std::make_shared<ngraph::opset3::ShapeOf>(paramOuts[0], inType);
+        auto shapeOf = std::make_shared<ngraph::opset3::ShapeOf>(paramOuts[0], outType);
         ngraph::ResultVector results{std::make_shared<ngraph::opset3::Result>(shapeOf)};
         function = std::make_shared<ngraph::Function>(results, param, "shapeOf");
     }
diff --git a/src/tests/functional/shared_test_classes/src/subgraph/relu_shape_of.cpp b/src/tests/functional/shared_test_classes/src/subgraph/relu_shape_of.cpp
index 5bc1fd2c9ba..58ca48aee67 100644
--- a/src/tests/functional/shared_test_classes/src/subgraph/relu_shape_of.cpp
+++ b/src/tests/functional/shared_test_classes/src/subgraph/relu_shape_of.cpp
@@ -6,7 +6,7 @@
 
 namespace SubgraphTestsDefinitions {
 
-    std::string ReluShapeOfSubgraphTest::getTestCaseName(const testing::TestParamInfo<LayerTestsDefinitions::shapeOfParams>& obj) {
+    std::string ReluShapeOfSubgraphTest::getTestCaseName(const testing::TestParamInfo<LayerTestsDefinitions::shapeOfParamsCommon>& obj) {
         InferenceEngine::SizeVector inputShapes;
         InferenceEngine::Precision inputPrecision;
         std::string targetDevice;