diff --git a/src/frontends/tensorflow/src/op_table.cpp b/src/frontends/tensorflow/src/op_table.cpp
index 814b4528a2b..2377aefe0ae 100644
--- a/src/frontends/tensorflow/src/op_table.cpp
+++ b/src/frontends/tensorflow/src/op_table.cpp
@@ -115,6 +115,7 @@ const std::map<std::string, CreatorFunction> get_supported_ops() {
 
         // Separate translators:
         {"AddN", CreatorFunction(translate_add_n_op)},
+        {"AdjustContrastv2", CreatorFunction(translate_adjust_contrast_op)},
         {"ArgMax", CreatorFunction(translate_arg_max_op)},
         {"ArgMin", CreatorFunction(translate_arg_min_op)},
         {"Assert", CreatorFunction(translate_no_op)},
diff --git a/src/frontends/tensorflow_common/include/common_op_table.hpp b/src/frontends/tensorflow_common/include/common_op_table.hpp
index f697d17ca2a..d1cf54703f5 100644
--- a/src/frontends/tensorflow_common/include/common_op_table.hpp
+++ b/src/frontends/tensorflow_common/include/common_op_table.hpp
@@ -32,6 +32,7 @@ OP_T_CONVERTER(translate_binary_op);
 OP_T_CONVERTER(translate_direct_reduce_op);
 
 OP_CONVERTER(translate_add_n_op);
+OP_CONVERTER(translate_adjust_contrast_op);
 OP_CONVERTER(translate_arg_max_op);
 OP_CONVERTER(translate_arg_min_op);
 OP_CONVERTER(translate_avg_pool_op);
diff --git a/src/frontends/tensorflow_common/src/op/adjust_contrast.cpp b/src/frontends/tensorflow_common/src/op/adjust_contrast.cpp
new file mode 100644
index 00000000000..a3bcfa08596
--- /dev/null
+++ b/src/frontends/tensorflow_common/src/op/adjust_contrast.cpp
@@ -0,0 +1,49 @@
+// Copyright (C) 2018-2023 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#include "common_op_table.hpp"
+#include "openvino/op/add.hpp"
+#include "openvino/op/constant.hpp"
+#include "openvino/op/convert_like.hpp"
+#include "openvino/op/multiply.hpp"
+#include "openvino/op/reduce_mean.hpp"
+#include "openvino/op/subtract.hpp"
+
+using namespace std;
+using namespace ov;
+using namespace ov::op;
+
+namespace ov {
+namespace frontend {
+namespace tensorflow {
+namespace op {
+
+OutputVector translate_adjust_contrast_op(const NodeContext& node) {
+    default_op_checks(node, 2, {"AdjustContrastv2"});
+    auto images = node.get_input(0);
+    auto contrast_factor = node.get_input(1);
+    auto node_name = node.get_name();
+
+    // compute mean per channel for each image
+    // it will reduce spatial dimensions of images in a format [batch, height, width, channel]
+    auto reduce_axes = make_shared<v0::Constant>(element::i32, Shape{2}, vector<int32_t>{-3, -2});
+    auto means = make_shared<v1::ReduceMean>(images, reduce_axes, true);
+
+    // cast contrast_factor since its type can be different
+    contrast_factor = make_shared<v1::ConvertLike>(contrast_factor, images);
+
+    // adjust contrast by a formula: (images - means) * contrast_factor + means
+    auto adjust_contrast = make_shared<v1::Subtract>(images, means)->output(0);
+    adjust_contrast = make_shared<v1::Multiply>(adjust_contrast, contrast_factor);
+    adjust_contrast = make_shared<v1::Add>(adjust_contrast, means);
+
+    set_node_name(node_name, adjust_contrast.get_node_shared_ptr());
+
+    return {adjust_contrast};
+}
+
+}  // namespace op
+}  // namespace tensorflow
+}  // namespace frontend
+}  // namespace ov
diff --git a/tests/layer_tests/tensorflow_tests/test_tf_AdjustContrastv2.py b/tests/layer_tests/tensorflow_tests/test_tf_AdjustContrastv2.py
new file mode 100644
index 00000000000..88944c50a38
--- /dev/null
+++ b/tests/layer_tests/tensorflow_tests/test_tf_AdjustContrastv2.py
@@ -0,0 +1,45 @@
+# Copyright (C) 2018-2023 Intel Corporation
+# SPDX-License-Identifier: Apache-2.0
+
+import numpy as np
+import pytest
+import tensorflow as tf
+from common.tf_layer_test_class import CommonTFLayerTest
+
+
+class TestAdjustContrastv2(CommonTFLayerTest):
+    def _prepare_input(self, inputs_info):
+        assert 'images' in inputs_info
+        images_shape = inputs_info['images']
+        inputs_data = {}
+        inputs_data['images'] = np.random.rand(*images_shape).astype(self.input_type)
+        inputs_data['contrast_factor'] = np.random.rand()
+        return inputs_data
+
+    def create_adjust_contrast_net(self, input_shape, input_type):
+        self.input_type = input_type
+        tf.compat.v1.reset_default_graph()
+        # Create the graph and model
+        with tf.compat.v1.Session() as sess:
+            images = tf.compat.v1.placeholder(input_type, input_shape, 'images')
+            contrast_factor = tf.compat.v1.placeholder(input_type, [], 'contrast_factor')
+            tf.raw_ops.AdjustContrastv2(images=images, contrast_factor=contrast_factor)
+            tf.compat.v1.global_variables_initializer()
+            tf_net = sess.graph_def
+
+        return tf_net, None
+
+    test_data_basic = [
+        dict(input_shape=[10, 20, 3], input_type=np.float32),
+        dict(input_shape=[5, 25, 15, 2], input_type=np.float32),
+        dict(input_shape=[3, 4, 8, 10, 4], input_type=np.float32),
+    ]
+
+    @pytest.mark.parametrize("params", test_data_basic)
+    @pytest.mark.precommit_tf_fe
+    @pytest.mark.nightly
+    def test_adjust_contrast_basic(self, params, ie_device, precision, ir_version, temp_dir,
+                                   use_new_frontend, use_old_api):
+        self._test(*self.create_adjust_contrast_net(**params),
+                   ie_device, precision, ir_version, temp_dir=temp_dir,
+                   use_new_frontend=use_new_frontend, use_old_api=use_old_api)