diff --git a/src/plugins/intel_cpu/src/cpu_memory.cpp b/src/plugins/intel_cpu/src/cpu_memory.cpp
index 5bbcbe761ebfec..71463d9d3b41e4 100644
--- a/src/plugins/intel_cpu/src/cpu_memory.cpp
+++ b/src/plugins/intel_cpu/src/cpu_memory.cpp
@@ -60,6 +60,9 @@ Memory::Memory(const dnnl::engine& eng, MemoryDescPtr desc, const void* data, bo
     m_pMemDesc(desc),
     m_mgrHandle(std::make_shared<DnnlMemoryMngr>(make_unique<MemoryMngrWithReuse>()), this),
     dnnlMemHandle(this) {
+        if (desc->getPrecision() == element::string) {
+            OPENVINO_THROW("[CPU] Memory object cannot be created for string data.");
+        }
         create(m_pMemDesc, data, pads_zeroing);
     }
 
@@ -68,6 +71,9 @@ Memory::Memory(const dnnl::engine& eng, const MemoryDesc& desc, const void* data
 
 Memory::Memory(const dnnl::engine& eng, MemoryDescPtr desc, MemoryMngrPtr mngr) :
     m_eng(eng), m_pMemDesc(desc), m_mgrHandle(mngr, this), dnnlMemHandle(this) {
+        if (desc->getPrecision() == element::string) {
+            OPENVINO_THROW("[CPU] Memory object can't be created for string data.");
+        }
         bool memAllocated = m_mgrHandle->getRawPtr();
 
         create(desc, nullptr, !memAllocated);
@@ -105,6 +111,9 @@ void Memory::create(MemoryDescPtr desc, const void* data, bool pads_zeroing) {
 }
 
 void Memory::load(const IMemory& src, bool ftz) const {
+    if (src.getDesc().getPrecision() == element::string) {
+        OPENVINO_THROW("[CPU] Memory object cannot load string data.");
+    }
     transferData(src, *this, ftz);
 }
 
@@ -115,6 +124,9 @@ void Memory::nullify() {
 }
 
 void Memory::redefineDesc(MemoryDescPtr desc) {
+    if (desc->getPrecision() == element::string) {
+        OPENVINO_THROW("[CPU] Memory object cannot accept a descriptor with a string type.");
+    }
     if (!desc->hasDefinedMaxSize()) {
         OPENVINO_THROW("Can not reset descriptor, memory upper bound is unknown.");
     }
@@ -445,6 +457,9 @@ void DnnlMemoryMngr::notifyUpdate() {
 
 StaticMemory::StaticMemory(const dnnl::engine& eng, MemoryDescPtr desc, const void* data, bool pads_zeroing) :
     m_eng(eng), m_pMemDesc(desc) {
+    if (desc->getPrecision() == element::string) {
+        OPENVINO_THROW("[CPU] StaticMemory object cannot be created for string data.");
+    }
     if (!m_pMemDesc->isDefined()) {
         OPENVINO_THROW("Can not create StaticMemory object. The memory desc is undefined");
     }
@@ -511,6 +526,9 @@ void StaticMemory::redefineDesc(MemoryDescPtr desc) {
 }
 
 void StaticMemory::load(const IMemory& src, bool ftz) const {
+    if (src.getDesc().getPrecision() == element::string) {
+        OPENVINO_THROW("[CPU] StaticMemory cannot load string data.");
+    }
     transferData(src, *this, ftz);
 }
 
diff --git a/src/plugins/intel_cpu/src/infer_request.cpp b/src/plugins/intel_cpu/src/infer_request.cpp
index 5797d2991c8f95..8d0c572fedb70d 100644
--- a/src/plugins/intel_cpu/src/infer_request.cpp
+++ b/src/plugins/intel_cpu/src/infer_request.cpp
@@ -175,14 +175,15 @@ std::vector<ov::ProfilingInfo> SyncInferRequest::get_profiling_info() const {
 }
 
 static inline void change_edge_ptr(const EdgePtr& edge, ov::SoPtr<ov::ITensor>& tensor) {
-    auto& mem = edge->getMemory();
+    auto mem = edge->getMemoryPtr();
+    OPENVINO_ASSERT(mem != nullptr, "Edge with name '", edge->name(), "' doesn't have allocated memory object.");
 
     if (tensor->get_element_type() == element::string) {
-        auto memMngr = dynamic_cast<const StringMemory &>(mem).getStringMemoryMngrPtr();
+        auto memMngr = dynamic_cast<StringMemory *>(mem.get())->getStringMemoryMngrPtr();
         OPENVINO_ASSERT(memMngr);
-        memMngr->setExtBuff(tensor->data<OvString>(), tensor->get_size());
+        memMngr->setExtBuff(tensor->data<StringMemory::OvString>(), tensor->get_size());
     } else {
-        auto memMngr = mem.getMemoryMngr();
+        auto memMngr = mem->getMemoryMngr();
         OPENVINO_ASSERT(memMngr);
         memMngr->setExtBuff(tensor->data(), tensor->get_byte_size());
     }
@@ -546,26 +547,40 @@ void SyncInferRequest::init_tensor(const std::string& name) {
 
             if (!tensor) {
                 ov::Shape tensor_shape;
+                const auto model_prec = port.get_element_type();
                 if (isDynamic) {
-                    const auto model_prec = port.get_element_type();
-                    const auto graph_prec =
-                        output->second->getParentEdgesAtPort(0)[0]->getMemory().getDesc().getPrecision();
-                    OutputControlBlock control_block{model_prec, Shape{shape}};
-
-                    DEBUG_LOG(name,
-                              ", tensor ",
-                              control_block.tensor(),
-                              ", memmngr ",
-                              control_block.tensor()->get_memory()->getMemoryMngr(),
-                              "memory object ",
-                              control_block.tensor()->get_memory().get());
-
-                    tensor = control_block.tensor();
-                    if (model_prec == graph_prec)
-                        m_outputControlBlocks.emplace(std::make_pair(name, std::move(control_block)));
+                    if (model_prec == element::string) {
+                        VectorDims memDims;
+                        auto c_shape = Shape{shape};
+                        for (auto&& dim : c_shape.getDims()) {
+                            memDims.push_back(dim != Shape::UNDEFINED_DIM ? dim : 0);
+                        }
+
+                        dnnl::engine eng(dnnl::engine::kind::cpu, 0);
+                        CpuBlockedMemoryDescPtr desc = std::make_shared<CpuBlockedMemoryDesc>(model_prec, Shape{memDims});
+                        auto memory = std::make_shared<StringMemory>(eng, desc);
+
+                        tensor = std::make_shared<Tensor>(memory);
+                    } else {
+                        const auto graph_prec =
+                            output->second->getParentEdgesAtPort(0)[0]->getMemory().getDesc().getPrecision();
+                        OutputControlBlock control_block{model_prec, Shape{shape}};
+
+                        DEBUG_LOG(name,
+                                ", tensor ",
+                                control_block.tensor(),
+                                ", memmngr ",
+                                control_block.tensor()->get_memory()->getMemoryMngr(),
+                                "memory object ",
+                                control_block.tensor()->get_memory().get());
+
+                        tensor = control_block.tensor();
+                        if (model_prec == graph_prec)
+                            m_outputControlBlocks.emplace(std::make_pair(name, std::move(control_block)));
+                    }
                 } else {
                     tensor_shape = shape.to_shape();
-                    tensor = ov::make_tensor(port.get_element_type(), tensor_shape);
+                    tensor = ov::make_tensor(model_prec, tensor_shape);
                 }
                 ov::ISyncInferRequest::set_tensor(port, tensor);
             } else {