diff --git a/src/plugins/intel_cpu/src/nodes/executors/dnnl/dnnl_fullyconnected_primitive.cpp b/src/plugins/intel_cpu/src/nodes/executors/dnnl/dnnl_fullyconnected_primitive.cpp
index 432a78419e9497..ef1e127f44f636 100644
--- a/src/plugins/intel_cpu/src/nodes/executors/dnnl/dnnl_fullyconnected_primitive.cpp
+++ b/src/plugins/intel_cpu/src/nodes/executors/dnnl/dnnl_fullyconnected_primitive.cpp
@@ -122,7 +122,7 @@ bool DnnlFCPrimitive::useWeightsDecompressionImpl(const ov::element::Type inputT
             // f16c kernel saves memory footprint with additional decompression computational overhead
             // which is only meaningful on LLM with small batch-size.
             // TODO: fall-back to use f32 weights on large batch-size
-            if (inputType == f32 && weightsType == f16)
+            if (inputType == f32 && one_of(weightsType, f16, bf16))
                 return true;
         }
     }
diff --git a/src/plugins/intel_cpu/thirdparty/onednn b/src/plugins/intel_cpu/thirdparty/onednn
index a320d02d6e733c..d19b5d85880ba9 160000
--- a/src/plugins/intel_cpu/thirdparty/onednn
+++ b/src/plugins/intel_cpu/thirdparty/onednn
@@ -1 +1 @@
-Subproject commit a320d02d6e733c775724901675cbc8944391459d
+Subproject commit d19b5d85880ba917552e57183670f7a3e2fcd086