diff --git a/src/common/transformations/src/transformations/common_optimizations/reverse_shape_and_type_infer.cpp b/src/common/transformations/src/transformations/common_optimizations/reverse_shape_and_type_infer.cpp
index 25708ad9420..5f93afb68c0 100644
--- a/src/common/transformations/src/transformations/common_optimizations/reverse_shape_and_type_infer.cpp
+++ b/src/common/transformations/src/transformations/common_optimizations/reverse_shape_and_type_infer.cpp
@@ -5,6 +5,7 @@
 #include "transformations/common_optimizations/reverse_shape_and_type_infer.hpp"
 
 #include "itt.hpp"
+#include "openvino/core/rt_info.hpp"
 #include "openvino/core/validation_util.hpp"
 #include "openvino/op/concat.hpp"
 #include "openvino/op/convert_like.hpp"
@@ -176,13 +177,31 @@ bool ov::pass::ReverseShapeAndTypeInfer::run_on_model(const std::shared_ptr<ov::
             is_changed |= inherit_output_rank(op, {0});
             is_changed |= inherit_output_type(op, {0});
         } else if (std::dynamic_pointer_cast<ov::op::v0::Squeeze>(op)) {
-            auto in0_rank = op->get_input_partial_shape(0).rank();
-            if (output_shape.rank().is_static() && in0_rank.is_dynamic() && op->get_input_size() > 1) {
-                auto in1_pshape = op->get_input_partial_shape(1);
-                if (in1_pshape.is_static()) {
-                    auto num_dims = in1_pshape.size() == 0 ? 1 : in1_pshape[0].get_length();
-                    op->get_input_tensor(0).m_partial_shape =
-                        PartialShape::dynamic(output_shape.rank().get_length() + num_dims);
+            auto in0_pshape = op->get_input_partial_shape(0);
+            auto in0_rank = in0_pshape.rank();
+            if (output_shape.rank().is_static()) {
+                if (in0_rank.is_dynamic() && op->get_input_size() > 1) {
+                    auto in1_pshape = op->get_input_partial_shape(1);
+                    if (in1_pshape.is_static()) {
+                        auto num_dims = in1_pshape.size() == 0 ? 1 : in1_pshape[0].get_length();
+                        op->get_input_tensor(0).m_partial_shape =
+                            PartialShape::dynamic(output_shape.rank().get_length() + num_dims);
+                    }
+                } else if (in0_rank.is_static() && op->get_input_size() == 1) {
+                    // attempt to create second input
+                    std::vector<int64_t> in1_data;
+                    for (size_t i = 0; i < in0_pshape.size(); i++) {
+                        if (in0_pshape[i] == 1) {
+                            in1_data.push_back(i);
+                        }
+                    }
+                    int64_t num_ones = in1_data.size();
+                    if (num_ones == in0_rank.get_length() - output_shape.rank().get_length()) {
+                        auto axes = ov::op::v0::Constant::create(element::i64, Shape{in1_data.size()}, in1_data);
+                        auto new_squeeze = std::make_shared<ov::op::v0::Squeeze>(op->get_input_source_output(0), axes);
+                        op->output(0).replace(new_squeeze->output(0));
+                        copy_runtime_info(op, new_squeeze);
+                    }
                 }
             }
             is_changed |= inherit_output_type(op, {0});
diff --git a/src/common/transformations/tests/common_optimizations/reverse_shape_and_type_infer.cpp b/src/common/transformations/tests/common_optimizations/reverse_shape_and_type_infer.cpp
index f550b92ea07..82ceee31375 100644
--- a/src/common/transformations/tests/common_optimizations/reverse_shape_and_type_infer.cpp
+++ b/src/common/transformations/tests/common_optimizations/reverse_shape_and_type_infer.cpp
@@ -412,6 +412,41 @@ TEST_F(TransformationTestsF, SqueezeReverseInfer) {
     }
 }
 
+TEST_F(TransformationTestsF, SqueezeAxesReverseInfer) {
+    auto dyn = Dimension::dynamic();
+    {
+        auto data = std::make_shared<opset10::Parameter>(element::dynamic, PartialShape{1, dyn, 1, dyn, dyn, dyn});
+        auto squeeze = std::make_shared<opset10::Squeeze>(data);
+        // Convolution is needed to produce static rank
+        auto weights =
+            opset10::Constant::create(element::f32, Shape{64, 3, 7, 7}, std::vector<float>(64 * 3 * 7 * 7, 0.1f));
+        auto conv = std::make_shared<opset10::Convolution>(squeeze,
+                                                           weights,
+                                                           Strides{2, 2},
+                                                           CoordinateDiff{3, 3},
+                                                           CoordinateDiff{3, 3},
+                                                           Strides{1, 1});
+        auto result = std::make_shared<opset10::Result>(conv);
+        model = std::make_shared<Model>(ResultVector{result}, ParameterVector{data});
+        manager.register_pass<pass::ReverseShapeAndTypeInfer>();
+    }
+    {
+        auto data = std::make_shared<opset10::Parameter>(element::f32, PartialShape{1, dyn, 1, dyn, dyn, dyn});
+        auto axes = opset10::Constant::create(element::i64, Shape{2}, {0, 2});
+        auto squeeze = std::make_shared<opset10::Squeeze>(data, axes);
+        auto weights =
+            opset10::Constant::create(element::f32, Shape{64, 3, 7, 7}, std::vector<float>(64 * 3 * 7 * 7, 0.1f));
+        auto conv = std::make_shared<opset10::Convolution>(squeeze,
+                                                           weights,
+                                                           Strides{2, 2},
+                                                           CoordinateDiff{3, 3},
+                                                           CoordinateDiff{3, 3},
+                                                           Strides{1, 1});
+        auto result = std::make_shared<opset10::Result>(conv);
+        model_ref = std::make_shared<Model>(ResultVector{result}, ParameterVector{data});
+    }
+}
+
 TEST_F(TransformationTestsF, UnsqueezeReverseInfer) {
     {
         auto data = std::make_shared<opset10::Parameter>(element::dynamic, PartialShape::dynamic());
diff --git a/src/frontends/tensorflow/tests/convert_tricky_models.cpp b/src/frontends/tensorflow/tests/convert_tricky_models.cpp
index f7ef57511ea..1ece7f7bec8 100644
--- a/src/frontends/tensorflow/tests/convert_tricky_models.cpp
+++ b/src/frontends/tensorflow/tests/convert_tricky_models.cpp
@@ -664,7 +664,8 @@ TEST_F(FrontEndConversionWithReferenceTestsF, NonMaxSuppressionWithNamedOutputs)
         selected_scores = make_shared<Convert>(selected_scores, i32);
 
         // compute the third output - valid_outputs
-        Output<Node> valid_outputs = make_shared<Squeeze>(nms->output(2));
+        auto squeeze_axes = make_shared<Constant>(i64, Shape{1}, 0);
+        Output<Node> valid_outputs = make_shared<Squeeze>(nms->output(2), squeeze_axes);
 
         // make post-processing before the concatenation
         auto const_minus_one = make_shared<Constant>(i32, Shape{1}, -1);