diff --git a/backends/openvino/quantizer/observers/nncf_observers.py b/backends/openvino/quantizer/observers/nncf_observers.py
index 54f4348e0ed..977458801a4 100644
--- a/backends/openvino/quantizer/observers/nncf_observers.py
+++ b/backends/openvino/quantizer/observers/nncf_observers.py
@@ -57,12 +57,14 @@ def convert(self, model: torch.fx.GraphModule, observer_node: torch.fx.Node):
             else:
                 decompressor = INT4SymmetricWeightsDecompressor(scale, q_weight.shape, original_weight.shape, original_weight.dtype)
             packed_q_weight = decompressor.pack_weight(q_weight)
-            new_weight_node = constant_update_fn(model, observer_node, packed_q_weight, input_port_id=0)
-            decompressor_name = f'NNCFDecompressor_{new_weight_node.name}'
+            constant_update_fn(model, observer_node, packed_q_weight, input_port_id=0)
+            compressed_weight_name = observer_node.all_input_nodes[0].name
+            decompressor_suffix = "_".join(compressed_weight_name.replace(".", "_").split("_")[:-2])
+            decompressor_name = f"{decompressor.quantization_mode}_weights_decompressor_{decompressor_suffix}"
 
             module_insertion_transformation_builder(
                         decompressor,
-                        [PTTargetPoint(TargetType.OPERATOR_POST_HOOK, target_node_name=new_weight_node.name)],
+                        [PTTargetPoint(TargetType.OPERATOR_POST_HOOK, target_node_name=compressed_weight_name)],
                         decompressor_name,
                     )(model)
         decomp_node = observer_node.args[0]
@@ -101,14 +103,16 @@ def convert(self, model: torch.fx.GraphModule, observer_node: torch.fx.Node):
             else:
                 decompressor = INT8SymmetricWeightsDecompressor(scale, original_weight.dtype)
             packed_q_weight = decompressor.pack_weight(q_weight)
-            new_weight_node = constant_update_fn(model, observer_node, packed_q_weight, input_port_id=0)
-            decompressor_name = f'NNCFDecompressor_{new_weight_node.name}'
+            constant_update_fn(model, observer_node, packed_q_weight, input_port_id=0)
+            compressed_weight_name = observer_node.all_input_nodes[0].name
+            decompressor_suffix = "_".join(compressed_weight_name.replace(".", "_").split("_")[:-2])
+            decompressor_name = f"{decompressor.quantization_mode}_weights_decompressor_{decompressor_suffix}"
 
             module_insertion_transformation_builder(
                         decompressor,
-                        [PTTargetPoint(TargetType.OPERATOR_POST_HOOK, target_node_name=new_weight_node.name)],
+                        [PTTargetPoint(TargetType.OPERATOR_POST_HOOK, target_node_name=compressed_weight_name)],
                         decompressor_name,
                     )(model)
         decomp_node = observer_node.args[0]
         observer_node.replace_all_uses_with(decomp_node)
-        model.graph.erase_node(observer_node)
\ No newline at end of file
+        model.graph.erase_node(observer_node)