diff --git a/inference-engine/tests/functional/plugin/cpu/shared_tests_instances/single_layer_tests/memory.cpp b/inference-engine/tests/functional/plugin/cpu/shared_tests_instances/single_layer_tests/memory.cpp
new file mode 100644
index 00000000000000..750a0e4af5e430
--- /dev/null
+++ b/inference-engine/tests/functional/plugin/cpu/shared_tests_instances/single_layer_tests/memory.cpp
@@ -0,0 +1,37 @@
+// Copyright (C) 2018-2021 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#include <vector>
+
+#include "single_layer_tests/memory.h"
+
+using namespace LayerTestsDefinitions;
+
+namespace {
+
+const std::vector<InferenceEngine::SizeVector> inShapes = {
+        {3},
+        {100, 100},
+};
+
+const std::vector<InferenceEngine::Precision> inputPrecisions = {
+        InferenceEngine::Precision::FP32,
+};
+
+const std::vector<int64_t> iterationCount {
+        1,
+        3,
+        10
+};
+
+INSTANTIATE_TEST_CASE_P(smoke_MemoryTest, MemoryTest,
+        ::testing::Combine(
+                ::testing::ValuesIn(iterationCount),
+                ::testing::ValuesIn(inShapes),
+                ::testing::ValuesIn(inputPrecisions),
+                ::testing::Values(CommonTestUtils::DEVICE_CPU)),
+        MemoryTest::getTestCaseName);
+
+} // namespace
+
diff --git a/inference-engine/tests/functional/plugin/gna/shared_tests_instances/single_layer_tests/memory.cpp b/inference-engine/tests/functional/plugin/gna/shared_tests_instances/single_layer_tests/memory.cpp
new file mode 100644
index 00000000000000..2ab1357f6748e4
--- /dev/null
+++ b/inference-engine/tests/functional/plugin/gna/shared_tests_instances/single_layer_tests/memory.cpp
@@ -0,0 +1,36 @@
+// Copyright (C) 2018-2021 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#include <vector>
+
+#include "single_layer_tests/memory.h"
+
+using namespace LayerTestsDefinitions;
+
+namespace {
+
+const std::vector<InferenceEngine::SizeVector> inShapes = {
+        {1, 1},
+        {1, 2}
+};
+
+const std::vector<InferenceEngine::Precision> inputPrecisions = {
+        InferenceEngine::Precision::FP32
+};
+
+const std::vector<int64_t> iterationCount {
+    1,
+    3,
+    10
+};
+
+INSTANTIATE_TEST_CASE_P(smoke_MemoryTest, MemoryTest,
+                        ::testing::Combine(
+                                ::testing::ValuesIn(iterationCount),
+                                ::testing::ValuesIn(inShapes),
+                                ::testing::ValuesIn(inputPrecisions),
+                                ::testing::Values(CommonTestUtils::DEVICE_GNA)),
+                        MemoryTest::getTestCaseName);
+
+} // namespace
\ No newline at end of file
diff --git a/inference-engine/tests/functional/plugin/shared/include/single_layer_tests/memory.h b/inference-engine/tests/functional/plugin/shared/include/single_layer_tests/memory.h
new file mode 100644
index 00000000000000..e284ef86cb59ef
--- /dev/null
+++ b/inference-engine/tests/functional/plugin/shared/include/single_layer_tests/memory.h
@@ -0,0 +1,15 @@
+// Copyright (C) 2018-2021 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#pragma once
+
+#include "shared_test_classes/single_layer/memory.hpp"
+
+namespace LayerTestsDefinitions {
+
+TEST_P(MemoryTest, CompareWithRefs) {
+    Run();
+};
+
+}  // namespace LayerTestsDefinitions
\ No newline at end of file
diff --git a/inference-engine/tests/functional/shared_test_classes/include/shared_test_classes/single_layer/memory.hpp b/inference-engine/tests/functional/shared_test_classes/include/shared_test_classes/single_layer/memory.hpp
new file mode 100644
index 00000000000000..ca16e30148e68f
--- /dev/null
+++ b/inference-engine/tests/functional/shared_test_classes/include/shared_test_classes/single_layer/memory.hpp
@@ -0,0 +1,36 @@
+// Copyright (C) 2018-2021 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#pragma once
+
+#include <memory>
+#include <string>
+#include <tuple>
+#include <vector>
+
+#include "shared_test_classes/base/layer_test_utils.hpp"
+
+namespace LayerTestsDefinitions {
+
+using MemoryTestParams = std::tuple<
+        int64_t,                            // iterationCount
+        InferenceEngine::SizeVector,        // inputShape
+        InferenceEngine::Precision,         // netPrecision
+        std::string                         // targetDevice
+>;
+
+class MemoryTest : public testing::WithParamInterface<MemoryTestParams>, virtual public LayerTestsUtils::LayerTestsCommon {
+public:
+    static std::string getTestCaseName(const testing::TestParamInfo<MemoryTestParams> &obj);
+    void Run() override;
+protected:
+    std::vector<std::pair<ngraph::element::Type, std::vector<std::uint8_t>>> CalculateRefs() override;
+    void SetUp() override;
+private:
+    InferenceEngine::Precision netPrecision;
+    ngraph::EvaluationContext eval_context;
+    int64_t iteration_count;
+};
+
+}  // namespace LayerTestsDefinitions
diff --git a/inference-engine/tests/functional/shared_test_classes/src/single_layer/memory.cpp b/inference-engine/tests/functional/shared_test_classes/src/single_layer/memory.cpp
new file mode 100644
index 00000000000000..0984a4dbeab07f
--- /dev/null
+++ b/inference-engine/tests/functional/shared_test_classes/src/single_layer/memory.cpp
@@ -0,0 +1,127 @@
+// Copyright (C) 2018-2021 Intel Corporation
+// SPDX-License-Identifier: Apache-2.0
+//
+
+#include <signal.h>
+#include "ngraph/opsets/opset7.hpp"
+#include "ngraph_functions/builders.hpp"
+#include "shared_test_classes/single_layer/memory.hpp"
+
+namespace LayerTestsDefinitions {
+
+    std::string MemoryTest::getTestCaseName(const testing::TestParamInfo<MemoryTestParams> &obj) {
+        int64_t iteration_count;
+        InferenceEngine::Precision netPrecision;
+        InferenceEngine::SizeVector inputShape;
+        std::string targetDevice;
+        std::tie(iteration_count, inputShape, netPrecision, targetDevice) = obj.param;
+
+        std::ostringstream result;
+        result << "iteration_count=" << iteration_count << "_";
+        result << "IS=" << CommonTestUtils::vec2str(inputShape) << "_";
+        result << "netPRC=" << netPrecision.name() << "_";
+        result << "trgDev=" << targetDevice;
+        result << ")";
+        return result.str();
+    }
+
+    void MemoryTest::SetUp() {
+        using namespace ngraph;
+        InferenceEngine::SizeVector inputShape;
+        std::tie(iteration_count, inputShape, netPrecision, targetDevice) = this->GetParam();
+        auto ngPrc = FuncTestUtils::PrecisionUtils::convertIE2nGraphPrc(netPrecision);
+
+        auto param = ngraph::builder::makeParams(ngPrc, {inputShape});
+        auto variable = std::make_shared<Variable>(VariableInfo{PartialShape::dynamic(), element::dynamic, "v0"});
+        auto read_value = std::make_shared<opset7::ReadValue>(param.at(0), variable);
+        auto add = std::make_shared<opset7::Add>(read_value, param.at(0));
+        auto assign = std::make_shared<opset7::Assign>(add, variable);
+        auto res = std::make_shared<opset7::Result>(add);
+        function = std::make_shared<Function>(ResultVector{res}, SinkVector{assign}, param, "TestMemory");
+
+        auto hostTensor = std::make_shared<ngraph::HostTensor>(ngPrc, inputShape);
+        auto variable_context = std::make_shared<VariantWrapper<VariableContext>>(VariableContext());
+        auto variable_value = std::make_shared<VariableValue>(hostTensor);
+        variable_context->get().set_variable_value(function->get_variable_by_id("v0"), variable_value);
+        eval_context["VariableContext"] = variable_context;
+    }
+
+
+    void MemoryTest::Run() {
+        using namespace LayerTestsUtils;
+        auto crashHandler = [](int errCode) {
+            auto &s = Summary::getInstance();
+            s.saveReport();
+            std::cout << "Unexpected application crash!" << std::endl;
+            std::abort();
+        };
+        signal(SIGSEGV, crashHandler);
+
+        auto &s = LayerTestsUtils::Summary::getInstance();
+        s.setDeviceName(targetDevice);
+
+        if (FuncTestUtils::SkipTestsConfig::currentTestIsDisabled()) {
+            s.updateOPsStats(function, PassRate::Statuses::SKIPPED);
+            GTEST_SKIP() << "Disabled test due to configuration" << std::endl;
+        } else {
+            s.updateOPsStats(function, PassRate::Statuses::CRASHED);
+        }
+
+        try {
+            LoadNetwork();
+            GenerateInputs();
+            for (int64_t i = 0; i < iteration_count; ++i) {
+                Infer();
+                Validate();
+            }
+            s.updateOPsStats(function, PassRate::Statuses::PASSED);
+        }
+        catch (const std::runtime_error &re) {
+            s.updateOPsStats(function, PassRate::Statuses::FAILED);
+            GTEST_FATAL_FAILURE_(re.what());
+        } catch (const std::exception &ex) {
+            s.updateOPsStats(function, PassRate::Statuses::FAILED);
+            GTEST_FATAL_FAILURE_(ex.what());
+        } catch (...) {
+            s.updateOPsStats(function, PassRate::Statuses::FAILED);
+            GTEST_FATAL_FAILURE_("Unknown failure occurred.");
+        }
+    }
+
+    std::vector<std::pair<ngraph::element::Type, std::vector<std::uint8_t>>> MemoryTest::CalculateRefs() {
+        using namespace ngraph;
+        function->validate_nodes_and_infer_types();
+
+        auto referenceInputs = std::vector<std::vector<uint8_t>>(inputs.size());
+        auto refInputsTypes = std::vector<ngraph::element::Type>(inputs.size());
+        HostTensorVector inputTensors;
+        for (auto & input : inputs) {
+            const auto &dataSize = input->byteSize();
+            const auto &tensorDesc = input->getTensorDesc();
+
+            auto memory = InferenceEngine::as<InferenceEngine::MemoryBlob>(input);
+            IE_ASSERT(memory);
+            const auto lockedMemory = memory->wmap();
+            const auto buffer = lockedMemory.as<const std::uint8_t *>();
+
+            auto hostTensor = std::make_shared<ngraph::HostTensor>(FuncTestUtils::PrecisionUtils::convertIE2nGraphPrc(tensorDesc.getPrecision()),
+                                                                   tensorDesc.getDims());
+            hostTensor->write(buffer, dataSize);
+            inputTensors.push_back(hostTensor);
+        }
+
+        const auto &outInfo = executableNetwork.GetOutputsInfo();
+        HostTensorVector outputTensors(outInfo.size(), std::make_shared<ngraph::HostTensor>());
+        function->evaluate(outputTensors, inputTensors, eval_context);
+
+        std::vector<std::pair<ngraph::element::Type, std::vector<std::uint8_t>>> outputs(outInfo.size());
+        for (size_t idx = 0; idx < outInfo.size(); ++idx) {
+            outputs[idx].first = outputTensors[idx]->get_element_type();
+            outputs[idx].second.resize(outputTensors[idx]->get_size_in_bytes());
+            outputTensors[idx]->read(outputs[idx].second.data(), outputTensors[idx]->get_size_in_bytes());
+        }
+        return outputs;
+    }
+
+}  // namespace LayerTestsDefinitions
+
diff --git a/ngraph/core/src/function.cpp b/ngraph/core/src/function.cpp
index 7576a21c7dd9f7..439b000f3f88d7 100644
--- a/ngraph/core/src/function.cpp
+++ b/ngraph/core/src/function.cpp
@@ -528,6 +528,10 @@ bool Function::evaluate(const HostTensorVector& output_tensors,
         output_tensor_map[result] = output_tensors.at(i);
         outputs.push_back(result);
     }
+    for (const auto& m_sink : m_sinks)
+    {
+        outputs.push_back(m_sink);
+    }
     evaluate_nodes(value_map, output_tensor_map, outputs, evaluation_context);
     return true;
 }