diff --git a/compiler/fir/analysis-tests/tests/org/jetbrains/kotlin/fir/FirOldFrontendDiagnosticsTestWithStdlibGenerated.java b/compiler/fir/analysis-tests/tests/org/jetbrains/kotlin/fir/FirOldFrontendDiagnosticsTestWithStdlibGenerated.java
index 7c55f2442d7..050e76224e7 100644
--- a/compiler/fir/analysis-tests/tests/org/jetbrains/kotlin/fir/FirOldFrontendDiagnosticsTestWithStdlibGenerated.java
+++ b/compiler/fir/analysis-tests/tests/org/jetbrains/kotlin/fir/FirOldFrontendDiagnosticsTestWithStdlibGenerated.java
@@ -1829,6 +1829,11 @@ public class FirOldFrontendDiagnosticsTestWithStdlibGenerated extends AbstractFi
         public void testOverloadByLambdaReturnType_enabled_no_annotation() throws Exception {
             runTest("compiler/testData/diagnostics/testsWithStdLib/factoryPattern/overloadByLambdaReturnType_enabled_no_annotation.kt");
         }
+
+        @TestMetadata("resolutionInOldInference.kt")
+        public void testResolutionInOldInference() throws Exception {
+            runTest("compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.kt");
+        }
     }
 
     @TestMetadata("compiler/testData/diagnostics/testsWithStdLib/forInArrayLoop")
diff --git a/compiler/frontend/src/org/jetbrains/kotlin/resolve/calls/results/ResolutionResultsHandler.java b/compiler/frontend/src/org/jetbrains/kotlin/resolve/calls/results/ResolutionResultsHandler.java
index 9ed0af58e2c..bb89699a00a 100644
--- a/compiler/frontend/src/org/jetbrains/kotlin/resolve/calls/results/ResolutionResultsHandler.java
+++ b/compiler/frontend/src/org/jetbrains/kotlin/resolve/calls/results/ResolutionResultsHandler.java
@@ -23,6 +23,7 @@ import org.jetbrains.kotlin.config.LanguageVersionSettings;
 import org.jetbrains.kotlin.descriptors.CallableDescriptor;
 import org.jetbrains.kotlin.descriptors.ModuleDescriptor;
 import org.jetbrains.kotlin.resolve.BindingTrace;
+import org.jetbrains.kotlin.resolve.calls.KotlinCallResolver;
 import org.jetbrains.kotlin.resolve.calls.callUtil.CallUtilKt;
 import org.jetbrains.kotlin.resolve.calls.context.CallResolutionContext;
 import org.jetbrains.kotlin.resolve.calls.context.CheckArgumentTypesMode;
@@ -32,6 +33,7 @@ import org.jetbrains.kotlin.resolve.calls.tower.TowerUtilsKt;
 import org.jetbrains.kotlin.util.CancellationChecker;
 
 import java.util.*;
+import java.util.stream.Collectors;
 
 import static org.jetbrains.kotlin.resolve.calls.results.ResolutionStatus.*;
 
@@ -221,6 +223,14 @@ public class ResolutionResultsHandler {
         Set<MutableResolvedCall<D>> specificCalls =
                 myResolver.chooseMaximallySpecificCandidates(refinedCandidates, checkArgumentsMode, discriminateGenerics);
 
+        if (specificCalls.size() > 1) {
+            specificCalls = specificCalls.stream()
+                    .filter((call) ->
+                                    !call.getCandidateDescriptor().getAnnotations().hasAnnotation(
+                                            KotlinCallResolver.Companion.getOVERLOAD_RESOLUTION_BY_LAMBDA_ANNOTATION())
+                    ).collect(Collectors.toSet());
+        }
+
         if (specificCalls.size() == 1) {
             return OverloadResolutionResultsImpl.success(specificCalls.iterator().next());
         }
diff --git a/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/KotlinCallResolver.kt b/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/KotlinCallResolver.kt
index f40ca24c11f..c878e366a39 100644
--- a/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/KotlinCallResolver.kt
+++ b/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/KotlinCallResolver.kt
@@ -6,6 +6,7 @@
 package org.jetbrains.kotlin.resolve.calls
 
 import org.jetbrains.kotlin.config.LanguageFeature
+import org.jetbrains.kotlin.descriptors.CallableDescriptor
 import org.jetbrains.kotlin.name.FqName
 import org.jetbrains.kotlin.progress.ProgressIndicatorAndCompilationCanceledStatus
 import org.jetbrains.kotlin.resolve.calls.components.*
@@ -25,7 +26,7 @@ class KotlinCallResolver(
     private val callComponents: KotlinCallComponents
 ) {
     companion object {
-        private val OVERLOAD_RESOLUTION_BY_LAMBDA_ANNOTATION = FqName.fromSegments(listOf("kotlin", "OverloadResolutionByLambdaReturnType"))
+        val OVERLOAD_RESOLUTION_BY_LAMBDA_ANNOTATION = FqName.fromSegments(listOf("kotlin", "OverloadResolutionByLambdaReturnType"))
     }
 
     fun resolveCall(
diff --git a/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.fir.kt b/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.fir.kt
new file mode 100644
index 00000000000..ea9e10330bc
--- /dev/null
+++ b/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.fir.kt
@@ -0,0 +1,24 @@
+// !LANGUAGE: -NewInference
+// !DIAGNOSTICS: -UNUSED_PARAMETER -UNUSED_VARIABLE -UNUSED_EXPRESSION
+// ISSUE: KT-11265
+
+// FILE: OverloadResolutionByLambdaReturnType.kt
+
+package kotlin
+
+annotation class OverloadResolutionByLambdaReturnType
+
+// FILE: main.kt
+
+import kotlin.OverloadResolutionByLambdaReturnType
+
+@OverloadResolutionByLambdaReturnType
+fun create(f: (Int) -> Int): Int = 1
+fun create(f: (Int) -> String): String = ""
+
+fun takeString(s: String) {}
+
+fun test_1() {
+    val x = <!AMBIGUITY!>create<!> { "" }
+    takeString("")
+}
\ No newline at end of file
diff --git a/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.kt b/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.kt
new file mode 100644
index 00000000000..1da656d5b7c
--- /dev/null
+++ b/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.kt
@@ -0,0 +1,24 @@
+// !LANGUAGE: -NewInference
+// !DIAGNOSTICS: -UNUSED_PARAMETER -UNUSED_VARIABLE -UNUSED_EXPRESSION
+// ISSUE: KT-11265
+
+// FILE: OverloadResolutionByLambdaReturnType.kt
+
+package kotlin
+
+annotation class OverloadResolutionByLambdaReturnType
+
+// FILE: main.kt
+
+import kotlin.OverloadResolutionByLambdaReturnType
+
+@OverloadResolutionByLambdaReturnType
+fun create(f: (Int) -> Int): Int = 1
+fun create(f: (Int) -> String): String = ""
+
+fun takeString(s: String) {}
+
+fun test_1() {
+    val x = create { "" }
+    takeString("")
+}
\ No newline at end of file
diff --git a/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.txt b/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.txt
new file mode 100644
index 00000000000..d7aa414e20d
--- /dev/null
+++ b/compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.txt
@@ -0,0 +1,16 @@
+package
+
+@kotlin.OverloadResolutionByLambdaReturnType public fun create(/*0*/ f: (kotlin.Int) -> kotlin.Int): kotlin.Int
+public fun create(/*0*/ f: (kotlin.Int) -> kotlin.String): kotlin.String
+public fun takeString(/*0*/ s: kotlin.String): kotlin.Unit
+public fun test_1(): kotlin.Unit
+
+package kotlin {
+
+    public final annotation class OverloadResolutionByLambdaReturnType : kotlin.Annotation {
+        public constructor OverloadResolutionByLambdaReturnType()
+        public open override /*1*/ /*fake_override*/ fun equals(/*0*/ other: kotlin.Any?): kotlin.Boolean
+        public open override /*1*/ /*fake_override*/ fun hashCode(): kotlin.Int
+        public open override /*1*/ /*fake_override*/ fun toString(): kotlin.String
+    }
+}
diff --git a/compiler/tests/org/jetbrains/kotlin/checkers/DiagnosticsTestWithStdLibGenerated.java b/compiler/tests/org/jetbrains/kotlin/checkers/DiagnosticsTestWithStdLibGenerated.java
index afdb479d6ec..34d19643ff9 100644
--- a/compiler/tests/org/jetbrains/kotlin/checkers/DiagnosticsTestWithStdLibGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/checkers/DiagnosticsTestWithStdLibGenerated.java
@@ -2844,6 +2844,11 @@ public class DiagnosticsTestWithStdLibGenerated extends AbstractDiagnosticsTestW
         public void testOverloadByLambdaReturnType_enabled_no_annotation() throws Exception {
             runTest("compiler/testData/diagnostics/testsWithStdLib/factoryPattern/overloadByLambdaReturnType_enabled_no_annotation.kt");
         }
+
+        @TestMetadata("resolutionInOldInference.kt")
+        public void testResolutionInOldInference() throws Exception {
+            runTest("compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.kt");
+        }
     }
 
     @TestMetadata("compiler/testData/diagnostics/testsWithStdLib/forInArrayLoop")
diff --git a/compiler/tests/org/jetbrains/kotlin/checkers/javac/DiagnosticsTestWithStdLibUsingJavacGenerated.java b/compiler/tests/org/jetbrains/kotlin/checkers/javac/DiagnosticsTestWithStdLibUsingJavacGenerated.java
index cf122df09bf..7fa263e5198 100644
--- a/compiler/tests/org/jetbrains/kotlin/checkers/javac/DiagnosticsTestWithStdLibUsingJavacGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/checkers/javac/DiagnosticsTestWithStdLibUsingJavacGenerated.java
@@ -2844,6 +2844,11 @@ public class DiagnosticsTestWithStdLibUsingJavacGenerated extends AbstractDiagno
         public void testOverloadByLambdaReturnType_enabled_no_annotation() throws Exception {
             runTest("compiler/testData/diagnostics/testsWithStdLib/factoryPattern/overloadByLambdaReturnType_enabled_no_annotation.kt");
         }
+
+        @TestMetadata("resolutionInOldInference.kt")
+        public void testResolutionInOldInference() throws Exception {
+            runTest("compiler/testData/diagnostics/testsWithStdLib/factoryPattern/resolutionInOldInference.kt");
+        }
     }
 
     @TestMetadata("compiler/testData/diagnostics/testsWithStdLib/forInArrayLoop")