diff --git a/src/plugins/intel_cpu/src/edge.cpp b/src/plugins/intel_cpu/src/edge.cpp
index d502413a79b..4b5f784f57e 100644
--- a/src/plugins/intel_cpu/src/edge.cpp
+++ b/src/plugins/intel_cpu/src/edge.cpp
@@ -596,8 +596,11 @@ EdgePtr Edge::getBaseEdge(int look) {
         for (auto &ch_edge : ch_edges) {
             auto &chch_conf = ch_edge->getChild()->getSelectedPrimitiveDescriptor()->getConfig();
 
-            if (chch_conf.inConfs[ch_edge->getOutputNum()].inPlace() >= 0)
+            if (chch_conf.inConfs[ch_edge->getOutputNum()].inPlace() >= 0) {
                 next_ch_edge = ch_edge;
+                // To align with upstream-inplace, we stop searching once found the first inplace consumer
+                break;
+            }
         }
         return next_ch_edge->getBaseEdge(LOOK_DOWN);
     } else if (parentConfig.outConfs[inputNum].inPlace() >= 0 && (look & LOOK_UP)) {
@@ -614,6 +617,7 @@ EdgePtr Edge::getBaseEdge(int look) {
         for (auto edge : edges_for_same_port) {
             if (edge.get() != this) {
                 auto base = edge->getBaseEdge(LOOK_BOTH | LOOK_NO_RECURRENT);
+                // Return once found the first inplace consumer
                 if (base != edge && base != edges_for_same_port[0]) return base;
             }
         }
diff --git a/src/plugins/intel_cpu/tests/functional/subgraph_tests/src/concat_reorder_inplace.cpp b/src/plugins/intel_cpu/tests/functional/subgraph_tests/src/concat_reorder_inplace.cpp
new file mode 100644
index 00000000000..495942f7bca
--- /dev/null
+++ b/src/plugins/intel_cpu/tests/functional/subgraph_tests/src/concat_reorder_inplace.cpp
@@ -0,0 +1,66 @@
+// Copyright (C) 2023 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#include <ngraph/opsets/opset8.hpp>
+
+#include "ngraph_functions/builders.hpp"
+#include "ngraph_functions/utils/ngraph_helpers.hpp"
+#include "shared_test_classes/base/layer_test_utils.hpp"
+#include "test_utils/cpu_test_utils.hpp"
+
+using namespace CPUTestUtils;
+using namespace ngraph;
+
+namespace SubgraphTestsDefinitions {
+// Subgraph:
+/*
+ *              paramter1   parameter2
+ *                    \       /
+ *                     \     /
+ *                     Concat (inPlace)
+ *                    /   |   \
+ *                   /    |    \
+ *             Reorder Reorder Reorder (the reorder nodes are optimized and use inplace memory mode)
+ *                /       |       \
+ *               /        |        \
+ *         Multiply    Multiply    Multiply
+ *            /           |           \
+ *           /            |            \
+ *        Result        Result         Result
+ */
+
+class ConcatReorderInPlaceTest : virtual public LayerTestsUtils::LayerTestsCommon {
+public:
+    void SetUp() override {
+        const std::vector<size_t> inputShape = {1, 100, 1, 1};
+        auto inputParams = ngraph::builder::makeParams(ngraph::element::f32, {inputShape, inputShape});
+        auto concat = ngraph::builder::makeConcat(ngraph::OutputVector{inputParams[0], inputParams[1]}, 1);
+        const auto targetFormat = nhwc;
+        auto mul1 = std::make_shared<ngraph::opset8::Multiply>(
+            concat,
+            ngraph::builder::makeConstant(ngraph::element::f32, Shape{1}, std::vector<float>{4}));
+        mul1->get_rt_info() = CPUTestsBase::makeCPUInfo({targetFormat}, {targetFormat}, {});
+        auto mul2 = std::make_shared<ngraph::opset8::Multiply>(
+            concat,
+            ngraph::builder::makeConstant(ngraph::element::f32, Shape{1}, std::vector<float>{5}));
+        mul2->get_rt_info() = CPUTestsBase::makeCPUInfo({targetFormat}, {targetFormat}, {});
+        auto mul3 = std::make_shared<ngraph::opset8::Multiply>(
+            concat,
+            ngraph::builder::makeConstant(ngraph::element::f32, Shape{1}, std::vector<float>{6}));
+        mul3->get_rt_info() = CPUTestsBase::makeCPUInfo({targetFormat}, {targetFormat}, {});
+
+        ngraph::ResultVector results{std::make_shared<ngraph::opset8::Result>(mul1),
+                                     std::make_shared<ngraph::opset8::Result>(mul2),
+                                     std::make_shared<ngraph::opset8::Result>(mul3)};
+        function = std::make_shared<ngraph::Function>(results, inputParams, "ConcatReorderInPlace");
+        targetDevice = CommonTestUtils::DEVICE_CPU;
+    }
+};
+
+namespace {
+TEST_F(ConcatReorderInPlaceTest, smoke_ConcatReorderInPlace_CPU) {
+    Run();
+}
+}  // namespace
+}  // namespace SubgraphTestsDefinitions