diff --git a/projects/hip-tests/catch/perftests/stream/hipPerfIncreasingNumberOfStreams.cpp b/projects/hip-tests/catch/perftests/stream/hipPerfIncreasingNumberOfStreams.cpp
new file mode 100644
index 0000000000..821de45bbd
--- /dev/null
+++ b/projects/hip-tests/catch/perftests/stream/hipPerfIncreasingNumberOfStreams.cpp
@@ -0,0 +1,110 @@
+/*
+ Copyright (c) 2015 - 2024 Advanced Micro Devices, Inc. All rights reserved.
+ Permission is hereby granted, free of charge, to any person obtaining a copy
+ of this software and associated documentation files (the "Software"), to deal
+ in the Software without restriction, including without limitation the rights
+ to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
+ copies of the Software, and to permit persons to whom the Software is
+ furnished to do so, subject to the following conditions:
+ The above copyright notice and this permission notice shall be included in
+ all copies or substantial portions of the Software.
+ THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+ IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+ FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT.  IN NO EVENT SHALL THE
+ AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+ LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
+ OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN
+ THE SOFTWARE.
+ */
+
+#include <iostream>
+#include <chrono>
+#include <hip_test_common.hh>
+
+using namespace std;
+
+__global__
+static void _noop_kernel() {
+}
+
+
+TEST_CASE("KernelLaunchLatency_IncreasingNumberOfStreams") {
+  vector<int> streamsNumber{1, 10, 50, 100, 1000, 5000};
+  hipError_t err = hipSuccess;
+  hipEvent_t start, stop;
+  int32_t NITER = 100000;
+
+  bool isBlocking = true;
+  bool launchOnNullStream = true;
+
+  SECTION("BlockingStreams, KernelLaunchOnNullStream") {
+    std::cout << "BlockingStreams, LaunchOnNullStream" << std::endl;
+    isBlocking = true;
+    launchOnNullStream = true;
+  }
+
+  SECTION("BlockingStreams, KernelLaunchOnCreatedStream") {
+    std::cout << "BlockingStreams, LaunchOnCreatedStream" << std::endl;
+    isBlocking = true;
+    launchOnNullStream = false;
+  }
+
+  SECTION("NonBlockingStreams, KernelLaunchOnNullStream") {
+    std::cout << "NonBlockingStreams, LaunchOnNullStream" << std::endl;
+    isBlocking = false;
+    launchOnNullStream = true;
+  }
+
+  SECTION("NonBlockingStreams, KernelLaunchOnCreatedStream") {
+    std::cout << "NonBlockingStreams, LaunchOnCreatedStream" << std::endl;
+    isBlocking = false;
+    launchOnNullStream = false;
+  }
+
+  HIP_CHECK(hipEventCreate(&start));
+  HIP_CHECK(hipEventCreate(&stop));
+
+  for (auto& numHipStreams : streamsNumber) {
+    vector<hipStream_t> streams(numHipStreams);
+
+    if(isBlocking) {
+      for (int i = 0; i < numHipStreams; ++i) {
+        HIP_CHECK(hipStreamCreate(&streams[i]));
+      }
+    }
+    else {
+      for (int i = 0; i < numHipStreams; ++i) {
+        HIP_CHECK(hipStreamCreateWithFlags(&streams[i], hipStreamNonBlocking));
+      }
+    }
+
+    auto kernelStart = std::chrono::steady_clock::now();
+    for (int i = 0; i < NITER; ++i) {
+      if (launchOnNullStream) {
+        HIP_CHECK(hipEventRecord(start, NULL));
+        _noop_kernel<<<1, 1>>>();
+        HIP_CHECK(hipEventRecord(stop, NULL));
+      } else {
+        HIP_CHECK(hipEventRecord(start, streams[0]));
+        _noop_kernel<<<1, 1, 0, streams[0]>>>();
+        HIP_CHECK(hipEventRecord(stop, streams[0]));
+      }
+      do {
+        err = hipEventQuery(stop);
+      } while (err == hipErrorNotReady);
+    }
+    auto kernelStop = std::chrono::steady_clock::now();
+    double usec = std::chrono::duration<double, std::micro>(kernelStop - kernelStart).count();
+
+    cout << "hipLaunchKernel average duration with " << numHipStreams
+         << " streams: " << usec / NITER << " us" << std::endl;
+
+    HIP_CHECK(hipDeviceSynchronize());
+
+    for (int i = 0; i < numHipStreams; ++i) {
+      HIP_CHECK(hipStreamDestroy(streams[i]));
+    }
+  }
+  HIP_CHECK(hipEventDestroy(start));
+  HIP_CHECK(hipEventDestroy(stop));
+}