diff --git a/dpnp/tests/helper.py b/dpnp/tests/helper.py
index 5d8ce22c910..075b14fbc01 100644
--- a/dpnp/tests/helper.py
+++ b/dpnp/tests/helper.py
@@ -456,6 +456,14 @@ def is_lts_driver(device=None):
     return dev.has_aspect_gpu and "1.3" in dev.driver_version
 
 
+def is_ptl(device=None):
+    """
+    Return True if a test is running on Panther Lake with Iris Xe3 GPU device,
+    False otherwise.
+    """
+    return _get_dev_mask(device) == 0xB000
+
+
 def is_win_platform():
     """
     Return True if a test is running on Windows OS, False otherwise.
diff --git a/dpnp/tests/test_product.py b/dpnp/tests/test_product.py
index b2a4514a57e..5fa74edfe2d 100644
--- a/dpnp/tests/test_product.py
+++ b/dpnp/tests/test_product.py
@@ -12,6 +12,7 @@
     assert_dtype_allclose,
     generate_random_numpy_array,
     get_all_dtypes,
+    is_ptl,
     numpy_version,
 )
 from .third_party.cupy import testing
@@ -1161,6 +1162,7 @@ def test_large_values(self, dtype):
         expected = numpy.matmul(a, b)
         assert_dtype_allclose(result, expected)
 
+    @pytest.mark.skipif(is_ptl(), reason="MKLD-18712")
     @pytest.mark.parametrize("dt_out", [numpy.int32, numpy.float32])
     @pytest.mark.parametrize(
         "shape1, shape2",