diff --git a/src/common/transformations/src/transformations/common_optimizations/select_with_one_value_condition.cpp b/src/common/transformations/src/transformations/common_optimizations/select_with_one_value_condition.cpp
index 3d21e4fb4a0..4de2e7541f6 100644
--- a/src/common/transformations/src/transformations/common_optimizations/select_with_one_value_condition.cpp
+++ b/src/common/transformations/src/transformations/common_optimizations/select_with_one_value_condition.cpp
@@ -31,7 +31,7 @@ ov::pass::SelectWithOneValueCondition::SelectWithOneValueCondition() {
         NodeRegistry copy_from;
         NodeRegistry copy_to;
         auto& pattern_map = m.get_pattern_value_map();
-        auto select_value = pattern_map.at(select_pattern);
+        auto& select_value = pattern_map.at(select_pattern);
         auto select = std::dynamic_pointer_cast<Select>(select_value.get_node_shared_ptr());
         if (!select) {
             return false;
@@ -70,9 +70,7 @@ ov::pass::SelectWithOneValueCondition::SelectWithOneValueCondition() {
 
         if (select_shape.is_static() && branch_output_shape.same_scheme(select_shape)) {
             // Broadcast is not needed if the select shape is exactly the same as the selected branch
-            select->output(0).replace(branch_output);
-            replace_output_update_name(select->output(0), branch_output);
-            branch_output.get_node_shared_ptr()->set_friendly_name(select->get_friendly_name());
+            return replace_output_update_name(select->output(0), branch_output);
         } else if (select_shape.is_static()) {
             // if the shape of the selected branch is not the same, it needs the broadcasting
             NodeRegistry copy_to;
diff --git a/src/common/transformations/tests/common_optimizations/select_with_one_value_condition_test.cpp b/src/common/transformations/tests/common_optimizations/select_with_one_value_condition_test.cpp
index 49a4f14410b..b949aba98fd 100644
--- a/src/common/transformations/tests/common_optimizations/select_with_one_value_condition_test.cpp
+++ b/src/common/transformations/tests/common_optimizations/select_with_one_value_condition_test.cpp
@@ -128,3 +128,21 @@ static const std::vector<SelectWithOneValueConditionParams> params = {
 };
 
 INSTANTIATE_TEST_SUITE_P(SelectWithOneValueConditionTest, SelectWithOneValueConditionTest, ValuesIn(params));
+
+TEST(TransformationTests, SelectWithOneValueCondition_DontRenameParameter) {
+    auto x = make_shared<Parameter>(f32, Shape{3});
+    x->set_friendly_name("X");
+    auto y = make_shared<Parameter>(f32, Shape{3});
+    auto relu = make_shared<Relu>(y);
+    auto condition = Constant::create(boolean, Shape{3}, {true, true, true});
+    auto select = make_shared<Select>(condition, x, relu);
+    auto abs = make_shared<Abs>(select);
+    auto model = make_shared<Model>(OutputVector{abs}, ParameterVector{x, y});
+
+    pass::Manager manager;
+    manager.register_pass<pass::SelectWithOneValueCondition>();
+    manager.run_passes(model);
+
+    ASSERT_EQ(count_ops_of_type<Select>(model), 0);
+    EXPECT_EQ(model->get_parameters()[0]->get_friendly_name(), "X");
+}