diff --git a/plugins/lombok/lombok.k1/src/org/jetbrains/kotlin/lombok/processor/AllArgsConstructorProcessor.kt b/plugins/lombok/lombok.k1/src/org/jetbrains/kotlin/lombok/processor/AllArgsConstructorProcessor.kt
index 8b6c30c896d..63149ca3c12 100644
--- a/plugins/lombok/lombok.k1/src/org/jetbrains/kotlin/lombok/processor/AllArgsConstructorProcessor.kt
+++ b/plugins/lombok/lombok.k1/src/org/jetbrains/kotlin/lombok/processor/AllArgsConstructorProcessor.kt
@@ -5,11 +5,14 @@
 
 package org.jetbrains.kotlin.lombok.processor
 
+import com.intellij.psi.PsiField
+import com.intellij.psi.PsiModifier
 import org.jetbrains.kotlin.descriptors.ClassDescriptor
 import org.jetbrains.kotlin.descriptors.PropertyDescriptor
 import org.jetbrains.kotlin.lombok.config.LombokAnnotations.AllArgsConstructor
 import org.jetbrains.kotlin.lombok.config.LombokAnnotations.Value
 import org.jetbrains.kotlin.lombok.utils.getJavaFields
+import org.jetbrains.kotlin.resolve.source.getPsi
 
 class AllArgsConstructorProcessor : AbstractConstructorProcessor<AllArgsConstructor>() {
 
@@ -17,6 +20,12 @@ class AllArgsConstructorProcessor : AbstractConstructorProcessor<AllArgsConstruc
         AllArgsConstructor.getOrNull(classDescriptor) ?: Value.getOrNull(classDescriptor)?.asAllArgsConstructor()
 
     override fun getPropertiesForParameters(classDescriptor: ClassDescriptor): List<PropertyDescriptor> =
-        classDescriptor.getJavaFields()
+        classDescriptor.getJavaFields().filter(this::isFieldAllowed)
 
+    private fun isFieldAllowed(field: PropertyDescriptor): Boolean {
+        val psi = field.source.getPsi() as? PsiField ?: return true
+
+        val final = psi.modifierList?.hasModifierProperty(PsiModifier.FINAL) ?: false
+        return !final || !psi.hasInitializer()
+    }
 }
diff --git a/plugins/lombok/lombok.k2/src/org/jetbrains/kotlin/lombok/k2/generators/AllArgsConstructorGeneratorPart.kt b/plugins/lombok/lombok.k2/src/org/jetbrains/kotlin/lombok/k2/generators/AllArgsConstructorGeneratorPart.kt
index 857b2fb909e..0e73642345a 100644
--- a/plugins/lombok/lombok.k2/src/org/jetbrains/kotlin/lombok/k2/generators/AllArgsConstructorGeneratorPart.kt
+++ b/plugins/lombok/lombok.k2/src/org/jetbrains/kotlin/lombok/k2/generators/AllArgsConstructorGeneratorPart.kt
@@ -5,11 +5,13 @@
 
 package org.jetbrains.kotlin.lombok.k2.generators
 
+import com.intellij.psi.PsiField
 import org.jetbrains.kotlin.fir.FirSession
 import org.jetbrains.kotlin.fir.java.declarations.FirJavaField
 import org.jetbrains.kotlin.fir.symbols.SymbolInternals
 import org.jetbrains.kotlin.fir.symbols.impl.FirClassSymbol
 import org.jetbrains.kotlin.lombok.k2.config.ConeLombokAnnotations.AllArgsConstructor
+import org.jetbrains.kotlin.psi
 
 class AllArgsConstructorGeneratorPart(session: FirSession) : AbstractConstructorGeneratorPart<AllArgsConstructor>(session) {
     override fun getConstructorInfo(classSymbol: FirClassSymbol<*>): AllArgsConstructor? {
@@ -19,6 +21,14 @@ class AllArgsConstructorGeneratorPart(session: FirSession) : AbstractConstructor
 
     @OptIn(SymbolInternals::class)
     override fun getFieldsForParameters(classSymbol: FirClassSymbol<*>): List<FirJavaField> {
-        return classSymbol.fir.declarations.filterIsInstance<FirJavaField>()
+        return classSymbol.fir.declarations
+            .filterIsInstance<FirJavaField>()
+            .filter { it.isFieldAllowed() }
+    }
+
+    private fun FirJavaField.isFieldAllowed(): Boolean {
+        // TODO: consider adding `hasInitializer` property directly to java model
+        val hasInitializer = (source?.psi as? PsiField)?.hasInitializer() ?: false
+        return isVar || !hasInitializer
     }
 }
diff --git a/plugins/lombok/testData/box/allArgsConstructor.kt b/plugins/lombok/testData/box/allArgsConstructor.kt
index ac15b1bd3a7..95952ee2104 100644
--- a/plugins/lombok/testData/box/allArgsConstructor.kt
+++ b/plugins/lombok/testData/box/allArgsConstructor.kt
@@ -5,11 +5,17 @@ import lombok.*;
 @AllArgsConstructor
 public class ConstructorExample {
 
+    // Part of constructor because not final.
     @Getter @Setter private int age = 10;
 
+    // Part of constructor because not initialized.
     @Getter(AccessLevel.PROTECTED) private String name;
 
-    private boolean otherField;
+    // Part of constructor because not initialized.
+    private final boolean otherField;
+
+    // Not part of constructor because final and initialized.
+    @Getter private final String result = "OK";
 
     static void javaUsage() {
         val generated = new ConstructorExample(12, "sdf", true);
@@ -21,5 +27,5 @@ public class ConstructorExample {
 
 fun box(): String {
     val generated = ConstructorExample(12, "sdf", true)
-    return "OK"
+    return generated.getResult()
 }
diff --git a/plugins/lombok/testData/box/allArgsConstructorStatic.kt b/plugins/lombok/testData/box/allArgsConstructorStatic.kt
index 3c61184a224..ec46409828b 100644
--- a/plugins/lombok/testData/box/allArgsConstructorStatic.kt
+++ b/plugins/lombok/testData/box/allArgsConstructorStatic.kt
@@ -5,12 +5,18 @@ import lombok.*;
 @AllArgsConstructor(staticName = "of")
 public class ConstructorExample {
 
+    // Part of constructor because not final.
     @Getter @Setter private int age = 10;
 
+    // Part of constructor because not initialized.
     @Getter(AccessLevel.PROTECTED) private String name;
 
+    // Part of constructor because not initialized.
     private boolean otherField;
 
+    // Not part of constructor because final and initialized.
+    @Getter private final String result = "OK";
+
     public ConstructorExample(String arg) {
 
     }
@@ -27,5 +33,5 @@ public class ConstructorExample {
 fun box(): String {
     val existing: ConstructorExample = ConstructorExample("existing")
     val generated: ConstructorExample = ConstructorExample.of(45, "234", false)
-    return "OK"
+    return generated.getResult()
 }