diff --git a/src/plugins/intel_cpu/tests/functional/shared_tests_instances/subgraph_tests/quantized_mat_mul.cpp b/src/plugins/intel_cpu/tests/functional/shared_tests_instances/subgraph_tests/quantized_mat_mul.cpp
index 2c28b919af1..d8dc2eeb431 100644
--- a/src/plugins/intel_cpu/tests/functional/shared_tests_instances/subgraph_tests/quantized_mat_mul.cpp
+++ b/src/plugins/intel_cpu/tests/functional/shared_tests_instances/subgraph_tests/quantized_mat_mul.cpp
@@ -7,20 +7,19 @@
 
 #include "subgraph_tests/quantized_mat_mul.hpp"
 
-using namespace SubgraphTestsDefinitions;
-using namespace ngraph::helpers;
+using namespace ov::test;
 
 namespace {
 
-const std::vector<InferenceEngine::Precision> netPrecisions = {
-        InferenceEngine::Precision::FP32
+const std::vector<ov::element::Type> netPrecisions = {
+        ov::element::f32
 };
 
-const std::vector<std::vector<size_t>> shapesA = {
+const std::vector<ov::Shape> shapesA = {
         {1, 4, 5, 6}
 };
 
-const std::vector<std::vector<size_t>> shapesB = {
+const std::vector<ov::Shape> shapesB = {
         {1, 4, 6, 4}
 };
 
@@ -43,14 +42,15 @@ const std::vector<QuantRange> ranges_i32 = {
 const std::vector<uint64_t> levels_8 = {256};
 const std::vector<uint64_t> levels_16 = {65536};
 const std::vector<uint64_t> levels_32 = {4294967296};
-const std::vector<QuantizationGranularity> granularity = {QuantizationGranularity::Pertensor};
+const std::vector<ov::test::utils::QuantizationGranularity> granularity = {
+    ov::test::utils::QuantizationGranularity::Pertensor};
 
 const auto quantParams_i8 = ::testing::Combine(
         ::testing::ValuesIn(levels_8),
         ::testing::ValuesIn(ranges_u8),
         ::testing::ValuesIn(ranges_i8),
         ::testing::ValuesIn(granularity),
-        ::testing::Values(InferenceEngine::Precision::I8)
+        ::testing::Values(ov::element::i8)
 );
 
 const auto quantParams_u8 = ::testing::Combine(
@@ -58,7 +58,7 @@ const auto quantParams_u8 = ::testing::Combine(
         ::testing::ValuesIn(ranges_u8),
         ::testing::ValuesIn(ranges_u8),
         ::testing::ValuesIn(granularity),
-        ::testing::Values(InferenceEngine::Precision::U8)
+        ::testing::Values(ov::element::u8)
 );
 
 const auto quantParams_i16 = ::testing::Combine(
@@ -66,7 +66,7 @@ const auto quantParams_i16 = ::testing::Combine(
         ::testing::ValuesIn(ranges_i32),
         ::testing::ValuesIn(ranges_i16),
         ::testing::ValuesIn(granularity),
-        ::testing::Values(InferenceEngine::Precision::I16)
+        ::testing::Values(ov::element::i16)
 );
 
 const auto quantParams_i32 = ::testing::Combine(
@@ -74,7 +74,7 @@ const auto quantParams_i32 = ::testing::Combine(
         ::testing::ValuesIn(ranges_i32),
         ::testing::ValuesIn(ranges_i32),
         ::testing::ValuesIn(granularity),
-        ::testing::Values(InferenceEngine::Precision::I32)
+        ::testing::Values(ov::element::i32)
 );
 
 INSTANTIATE_TEST_SUITE_P(smoke_QuantMatMul_i8i8, QuantMatMulTest,
diff --git a/src/tests/functional/plugin/shared/include/subgraph_tests/quantized_mat_mul.hpp b/src/tests/functional/plugin/shared/include/subgraph_tests/quantized_mat_mul.hpp
index 4313a00cde5..fe75b63c25d 100644
--- a/src/tests/functional/plugin/shared/include/subgraph_tests/quantized_mat_mul.hpp
+++ b/src/tests/functional/plugin/shared/include/subgraph_tests/quantized_mat_mul.hpp
@@ -6,10 +6,12 @@
 
 #include "shared_test_classes/subgraph/quantized_mat_mul.hpp"
 
-namespace SubgraphTestsDefinitions {
+namespace ov {
+namespace test {
 
 TEST_P(QuantMatMulTest, CompareWithRefs) {
-    Run();
+    run();
 };
 
-}  // namespace SubgraphTestsDefinitions
+}  // namespace test
+}  // namespace ov
diff --git a/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/quantized_mat_mul.hpp b/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/quantized_mat_mul.hpp
index 8187c864575..5350791bef8 100644
--- a/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/quantized_mat_mul.hpp
+++ b/src/tests/functional/shared_test_classes/include/shared_test_classes/subgraph/quantized_mat_mul.hpp
@@ -4,15 +4,11 @@
 
 #pragma once
 
-#include <cstdint>
-#include <memory>
-#include <string>
-#include <tuple>
-#include <vector>
+#include "common_test_utils/test_enums.hpp"
+#include "shared_test_classes/base/ov_subgraph.hpp"
 
-#include "shared_test_classes/base/layer_test_utils.hpp"
-
-namespace SubgraphTestsDefinitions {
+namespace ov {
+namespace test {
 
 typedef std::pair<float, float> QuantRange;
 
@@ -21,22 +17,23 @@ typedef std::tuple<
         QuantRange,
         QuantRange,
         ov::test::utils::QuantizationGranularity,
-        InferenceEngine::Precision> QuantParams;
+        ov::element::Type> QuantParams;
 
 typedef std::tuple<
         QuantParams,
         QuantParams,
-        InferenceEngine::Precision,
-        InferenceEngine::SizeVector,
-        InferenceEngine::SizeVector,
-        LayerTestsUtils::TargetDevice> QuantMatMulLayerTestParamsSet;
+        ov::element::Type,
+        ov::Shape,
+        ov::Shape,
+        std::string> QuantMatMulLayerTestParamsSet;
 
-class QuantMatMulTest : public testing::WithParamInterface<QuantMatMulLayerTestParamsSet>, virtual public LayerTestsUtils::LayerTestsCommon {
+class QuantMatMulTest : public testing::WithParamInterface<QuantMatMulLayerTestParamsSet>, virtual public ov::test::SubgraphBaseStaticTest {
 public:
-    static std::string getTestCaseName(const testing::TestParamInfo<QuantMatMulLayerTestParamsSet> &obj);
+    static std::string getTestCaseName(const testing::TestParamInfo<QuantMatMulLayerTestParamsSet>& obj);
 
 protected:
     void SetUp() override;
 };
 
-}  // namespace SubgraphTestsDefinitions
+}  // namespace test
+}  // namespace ov
diff --git a/src/tests/functional/shared_test_classes/src/subgraph/quantized_mat_mul.cpp b/src/tests/functional/shared_test_classes/src/subgraph/quantized_mat_mul.cpp
index 1226451120d..e88de482532 100644
--- a/src/tests/functional/shared_test_classes/src/subgraph/quantized_mat_mul.cpp
+++ b/src/tests/functional/shared_test_classes/src/subgraph/quantized_mat_mul.cpp
@@ -5,27 +5,28 @@
 #include "shared_test_classes/subgraph/quantized_mat_mul.hpp"
 #include "ov_models/builders.hpp"
 
-namespace SubgraphTestsDefinitions {
+namespace ov {
+namespace test {
 
 std::string QuantMatMulTest::getTestCaseName(const testing::TestParamInfo<QuantMatMulLayerTestParamsSet> &obj) {
     QuantParams quantParams0;
     QuantParams quantParams1;
-    InferenceEngine::Precision netPrecision;
-    InferenceEngine::SizeVector inputShape0;
-    InferenceEngine::SizeVector inputShape1;
+    ov::element::Type element_type;
+    ov::Shape inputShape0;
+    ov::Shape inputShape1;
     QuantRange inputRange0;
     QuantRange inputRange1;
     QuantRange outputRange0;
     QuantRange outputRange1;
     std::string targetDevice;
-    std::tie(quantParams0, quantParams1, netPrecision, inputShape0, inputShape1, targetDevice) = obj.param;
+    std::tie(quantParams0, quantParams1, element_type, inputShape0, inputShape1, targetDevice) = obj.param;
 
     size_t quantLevels0;
     size_t quantLevels1;
     ov::test::utils::QuantizationGranularity quantGranularity0;
     ov::test::utils::QuantizationGranularity quantGranularity1;
-    InferenceEngine::Precision fqPrec0;
-    InferenceEngine::Precision fqPrec1;
+    ov::element::Type fqPrec0;
+    ov::element::Type fqPrec1;
     std::tie(quantLevels0, inputRange0, outputRange0, quantGranularity0, fqPrec0) = quantParams0;
     std::tie(quantLevels1, inputRange1, outputRange1, quantGranularity1, fqPrec1) = quantParams1;
 
@@ -40,9 +41,9 @@ std::string QuantMatMulTest::getTestCaseName(const testing::TestParamInfo<QuantM
     result << "outputRange1=" << outputRange1.first << "_" << outputRange1.second << "_";
     result << "QuantGranularity0=" << quantGranularity0 << "_";
     result << "QuantGranularity1=" << quantGranularity1 << "_";
-    result << "fq0PRC=" << fqPrec0.name() << "_";
-    result << "fq1PRC=" << fqPrec1.name() << "_";
-    result << "netPRC=" << netPrecision.name() << "_";
+    result << "fq0PRC=" << fqPrec0.get_type_name() << "_";
+    result << "fq1PRC=" << fqPrec1.get_type_name() << "_";
+    result << "ET=" << element_type.get_type_name() << "_";
     result << "targetDevice=" << targetDevice;
     return result.str();
 }
@@ -50,10 +51,10 @@ std::string QuantMatMulTest::getTestCaseName(const testing::TestParamInfo<QuantM
 void QuantMatMulTest::SetUp() {
     QuantParams quantParams0;
     QuantParams quantParams1;
-    InferenceEngine::SizeVector inputShape0;
-    InferenceEngine::SizeVector inputShape1;
-    auto netPrecision = InferenceEngine::Precision::UNSPECIFIED;
-    std::tie(quantParams0, quantParams1, netPrecision, inputShape0, inputShape1, targetDevice) = this->GetParam();
+    ov::Shape inputShape0;
+    ov::Shape inputShape1;
+    ov::element::Type element_type;
+    std::tie(quantParams0, quantParams1, element_type, inputShape0, inputShape1, targetDevice) = this->GetParam();
 
     size_t quantLevels0;
     size_t quantLevels1;
@@ -63,22 +64,21 @@ void QuantMatMulTest::SetUp() {
     QuantRange outputRange1;
     ov::test::utils::QuantizationGranularity quantGranularity0;
     ov::test::utils::QuantizationGranularity quantGranularity1;
-    InferenceEngine::Precision fqPrec0;
-    InferenceEngine::Precision fqPrec1;
+    ov::element::Type fqPrec0;
+    ov::element::Type fqPrec1;
     std::tie(quantLevels0, inputRange0, outputRange0, quantGranularity0, fqPrec0) = quantParams0;
     std::tie(quantLevels1, inputRange1, outputRange1, quantGranularity1, fqPrec1) = quantParams1;
 
-    auto ngPrc = FuncTestUtils::PrecisionUtils::convertIE2nGraphPrc(netPrecision);
-    ov::ParameterVector params {std::make_shared<ov::op::v0::Parameter>(ngPrc, ov::Shape(inputShape0)),
-                                std::make_shared<ov::op::v0::Parameter>(ngPrc, ov::Shape(inputShape1))};
+    ov::ParameterVector params {std::make_shared<ov::op::v0::Parameter>(element_type, ov::Shape(inputShape0)),
+                                std::make_shared<ov::op::v0::Parameter>(element_type, ov::Shape(inputShape1))};
 
-    auto makeFakeQuantizeNode = [ngPrc](size_t quantLevels, QuantRange inputRange, QuantRange outputRange,
-            ov::test::utils::QuantizationGranularity quantGranularity, const ngraph::Output<ngraph::Node> &in, std::vector<size_t> inputShape,
-            InferenceEngine::Precision prec) -> std::shared_ptr<ngraph::Node> {
+    auto makeFakeQuantizeNode = [element_type](size_t quantLevels, QuantRange inputRange, QuantRange outputRange,
+            ov::test::utils::QuantizationGranularity quantGranularity, const ov::Output<ov::Node> &in, ov::Shape inputShape,
+            ov::element::Type prec) -> std::shared_ptr<ngraph::Node> {
         std::vector<size_t> dataFqConstShapes(inputShape.size(), 1);
         if (quantGranularity == ov::test::utils::QuantizationGranularity::Perchannel)
             dataFqConstShapes[1] = inputShape[1];
-        size_t constDataSize = ngraph::shape_size(dataFqConstShapes);
+        size_t constDataSize = ov::shape_size(dataFqConstShapes);
         std::vector<float> inputLowData(constDataSize), inputHighData(constDataSize), outputLowData(constDataSize), outputHighData(constDataSize);
         for (int i = 0; i < constDataSize; i++) {
             inputLowData[i] = inputRange.first;
@@ -86,14 +86,15 @@ void QuantMatMulTest::SetUp() {
             outputLowData[i] = outputRange.first;
             outputHighData[i] = outputRange.second;
         }
-        return ngraph::builder::makeFakeQuantize(in, ngPrc, quantLevels, dataFqConstShapes, inputLowData, inputHighData, outputLowData, outputHighData);
+        return ngraph::builder::makeFakeQuantize(in, element_type, quantLevels, dataFqConstShapes, inputLowData, inputHighData, outputLowData, outputHighData);
     };
 
     auto dataFq0 = makeFakeQuantizeNode(quantLevels0, inputRange0, outputRange0, quantGranularity0, params[0], inputShape0, fqPrec0);
     auto dataFq1 = makeFakeQuantizeNode(quantLevels1, inputRange1, outputRange1, quantGranularity1, params[1], inputShape1, fqPrec1);
 
     auto MatMul = std::make_shared<ov::op::v0::MatMul>(dataFq0, dataFq1);
-    ngraph::ResultVector results{std::make_shared<ngraph::opset1::Result>(MatMul)};
-    function = std::make_shared<ngraph::Function>(results, params, "QuantMatMul");
+    ov::ResultVector results{std::make_shared<ov::op::v0::Result>(MatMul)};
+    function = std::make_shared<ov::Model>(results, params, "QuantMatMul");
 }
-}  // namespace SubgraphTestsDefinitions
+}  // namespace test
+}  // namespace ov