diff --git a/src/common/transformations/include/transformations/op_conversions/convert_pad12_downgrade.hpp b/src/common/transformations/include/transformations/op_conversions/convert_pad12_downgrade.hpp
new file mode 100644
index 00000000000000..e00626a4b71484
--- /dev/null
+++ b/src/common/transformations/include/transformations/op_conversions/convert_pad12_downgrade.hpp
@@ -0,0 +1,23 @@
+// Copyright (C) 2018-2023 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#pragma once
+
+#include <openvino/pass/graph_rewrite.hpp>
+#include <transformations_visibility.hpp>
+
+namespace ov {
+namespace pass {
+/**
+ * @ingroup ie_transformation_common_api
+ * @brief Converts Pad v12 to Pad v1
+ */
+class TRANSFORMATIONS_API ConvertPad12ToPad1 : public MatcherPass {
+public:
+    OPENVINO_RTTI("ConvertPad12ToPad1", "0");
+    ConvertPad12ToPad1();
+};
+
+}  // namespace pass
+}  // namespace ov
diff --git a/src/common/transformations/src/transformations/common_optimizations/common_optimizations.cpp b/src/common/transformations/src/transformations/common_optimizations/common_optimizations.cpp
index 941427fa40480c..a9e5d971b944b7 100644
--- a/src/common/transformations/src/transformations/common_optimizations/common_optimizations.cpp
+++ b/src/common/transformations/src/transformations/common_optimizations/common_optimizations.cpp
@@ -83,6 +83,7 @@
 #include "transformations/op_conversions/convert_minimum_to_power_and_max.hpp"
 #include "transformations/op_conversions/convert_mod.hpp"
 #include "transformations/op_conversions/convert_multiclass_nms_upgrade.hpp"
+#include "transformations/op_conversions/convert_pad12_downgrade.hpp"
 #include "transformations/op_conversions/convert_pad_to_group_conv.hpp"
 #include "transformations/op_conversions/convert_prior_box_v8_to_v0.hpp"
 #include "transformations/op_conversions/convert_reduce_to_pooling.hpp"
@@ -213,6 +214,7 @@ bool ov::pass::CommonOptimizations::run_on_model(const std::shared_ptr<ov::Model
     REGISTER_PASS(manager, ConvertXorToLogicalXor)
     REGISTER_PASS(manager, ConvertTopK11ToTopK3)
     REGISTER_PASS(manager, ConvertInterpolate11ToInterpolate4)
+    REGISTER_PASS(manager, ConvertPad12ToPad1)
 
     auto fq_fusions = manager.register_pass<GraphRewrite>();
     ADD_MATCHER(fq_fusions, FakeQuantizeMulFusion)
diff --git a/src/common/transformations/src/transformations/op_conversions/convert_pad12_downgrade.cpp b/src/common/transformations/src/transformations/op_conversions/convert_pad12_downgrade.cpp
new file mode 100644
index 00000000000000..b37c247be42e41
--- /dev/null
+++ b/src/common/transformations/src/transformations/op_conversions/convert_pad12_downgrade.cpp
@@ -0,0 +1,50 @@
+// Copyright (C) 2018-2023 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#include "transformations/op_conversions/convert_pad12_downgrade.hpp"
+
+#include <ngraph/pattern/op/wrap_type.hpp>
+#include <ngraph/rt_info.hpp>
+#include <openvino/op/pad.hpp>
+
+#include "itt.hpp"
+
+ov::pass::ConvertPad12ToPad1::ConvertPad12ToPad1() {
+    MATCHER_SCOPE(ConvertPad12ToPad1);
+
+    const auto pad_v12_pattern = pattern::wrap_type<ov::op::v12::Pad>();
+
+    const matcher_pass_callback callback = [=](pattern::Matcher& m) {
+        const auto pad_v12 = std::dynamic_pointer_cast<ov::op::v12::Pad>(m.get_match_root());
+        if (!pad_v12 || transformation_callback(pad_v12)) {
+            return false;
+        }
+
+        std::shared_ptr<ov::Node> pad_v1;
+        if (pad_v12->get_input_size() == 4) {
+            pad_v1 = std::make_shared<ov::op::v1::Pad>(pad_v12->input_value(0),
+                                                       pad_v12->input_value(1),
+                                                       pad_v12->input_value(2),
+                                                       pad_v12->input_value(3),
+                                                       pad_v12->get_pad_mode());
+        } else {
+            const auto pad_value =
+                ov::op::v0::Constant::create(pad_v12->input_value(0).get_element_type(), ov::Shape{}, {0});
+
+            pad_v1 = std::make_shared<ov::op::v1::Pad>(pad_v12->input_value(0),
+                                                       pad_v12->input_value(1),
+                                                       pad_v12->input_value(2),
+                                                       pad_value,
+                                                       pad_v12->get_pad_mode());
+        }
+        pad_v1->set_friendly_name(pad_v12->get_friendly_name());
+        copy_runtime_info(pad_v12, pad_v1);
+        replace_node(pad_v12, pad_v1);
+
+        return true;
+    };
+
+    auto m = std::make_shared<pattern::Matcher>(pad_v12_pattern, matcher_name);
+    register_matcher(m, callback);
+}
diff --git a/src/common/transformations/tests/op_conversions/convert_pad12_downgrade_test.cpp b/src/common/transformations/tests/op_conversions/convert_pad12_downgrade_test.cpp
new file mode 100644
index 00000000000000..813f3cf2ca6e7d
--- /dev/null
+++ b/src/common/transformations/tests/op_conversions/convert_pad12_downgrade_test.cpp
@@ -0,0 +1,86 @@
+// Copyright (C) 2018-2023 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#include <gtest/gtest.h>
+
+#include <memory>
+#include <openvino/opsets/opset1.hpp>
+#include <openvino/opsets/opset12.hpp>
+#include <openvino/pass/manager.hpp>
+#include <transformations/op_conversions/convert_pad12_downgrade.hpp>
+#include <transformations/utils/utils.hpp>
+
+#include "common_test_utils/ngraph_test_utils.hpp"
+
+using namespace testing;
+
+namespace {
+std::shared_ptr<ov::Model> create_v12_model(const ov::op::PadMode pad_mode, const int16_t pad_v = -1) {
+    const auto input = std::make_shared<ov::opset12::Parameter>(ov::element::i16, ov::Shape{1, 3, 100, 100});
+    const auto pads_begin =
+        std::make_shared<ov::op::v0::Constant>(ov::element::i64, ov::Shape{4}, std::vector<int64_t>{0, 2, 1, 0});
+    const auto pads_end =
+        std::make_shared<ov::op::v0::Constant>(ov::element::i64, ov::Shape{4}, std::vector<int64_t>{0, 1, 1, 0});
+
+    std::shared_ptr<ov::opset12::Pad> pad;
+    if (pad_v != -1) {
+        const auto pad_value =
+            std::make_shared<ov::op::v0::Constant>(ov::element::i16, ov::Shape{}, std::vector<int16_t>{pad_v});
+        pad = std::make_shared<ov::opset12::Pad>(input, pads_begin, pads_end, pad_value, pad_mode);
+    } else {
+        pad = std::make_shared<ov::opset12::Pad>(input, pads_begin, pads_end, pad_mode);
+    }
+    pad->set_friendly_name("pad12");
+
+    return std::make_shared<ov::Model>(pad->outputs(), ov::ParameterVector{input});
+}
+
+std::shared_ptr<ov::Model> create_v1_model(const ov::op::PadMode pad_mode, const int16_t pad_v) {
+    const auto input = std::make_shared<ov::opset1::Parameter>(ov::element::i16, ov::Shape{1, 3, 100, 100});
+    const auto pads_begin =
+        std::make_shared<ov::op::v0::Constant>(ov::element::i64, ov::Shape{4}, std::vector<int64_t>{0, 2, 1, 0});
+    const auto pads_end =
+        std::make_shared<ov::op::v0::Constant>(ov::element::i64, ov::Shape{4}, std::vector<int64_t>{0, 1, 1, 0});
+    const auto pad_value =
+        std::make_shared<ov::op::v0::Constant>(ov::element::i16, ov::Shape{}, std::vector<int16_t>{pad_v});
+
+    const auto pad = std::make_shared<ov::opset1::Pad>(input, pads_begin, pads_end, pad_value, pad_mode);
+    pad->set_friendly_name("pad1");
+
+    return std::make_shared<ov::Model>(pad->outputs(), ov::ParameterVector{input});
+}
+
+}  // namespace
+
+TEST_F(TransformationTestsF, ConvertPad12ToPad1) {
+    manager.register_pass<ov::pass::ConvertPad12ToPad1>();
+    function = create_v12_model(ov::op::PadMode::CONSTANT);
+    function_ref = create_v1_model(ov::op::PadMode::CONSTANT, 0);
+    comparator.enable(FunctionsComparator::CmpValues::CONST_VALUES);
+    comparator.enable(FunctionsComparator::CmpValues::ATTRIBUTES);
+}
+
+TEST_F(TransformationTestsF, ConvertPad12ToPad1_explicit_pad_value) {
+    manager.register_pass<ov::pass::ConvertPad12ToPad1>();
+    function = create_v12_model(ov::op::PadMode::CONSTANT, 5);
+    function_ref = create_v1_model(ov::op::PadMode::CONSTANT, 5);
+    comparator.enable(FunctionsComparator::CmpValues::CONST_VALUES);
+    comparator.enable(FunctionsComparator::CmpValues::ATTRIBUTES);
+}
+
+TEST_F(TransformationTestsF, ConvertPad12ToPad1_symmetric) {
+    manager.register_pass<ov::pass::ConvertPad12ToPad1>();
+    function = create_v12_model(ov::op::PadMode::SYMMETRIC);
+    function_ref = create_v1_model(ov::op::PadMode::SYMMETRIC, 0);
+    comparator.enable(FunctionsComparator::CmpValues::CONST_VALUES);
+    comparator.enable(FunctionsComparator::CmpValues::ATTRIBUTES);
+}
+
+TEST_F(TransformationTestsF, ConvertPad12ToPad1_symmetric_explicit_pad_value) {
+    manager.register_pass<ov::pass::ConvertPad12ToPad1>();
+    function = create_v12_model(ov::op::PadMode::SYMMETRIC, 5);
+    function_ref = create_v1_model(ov::op::PadMode::SYMMETRIC, 5);
+    comparator.enable(FunctionsComparator::CmpValues::CONST_VALUES);
+    comparator.enable(FunctionsComparator::CmpValues::ATTRIBUTES);
+}