diff --git a/onnxruntime/core/framework/debug_node_inputs_outputs_utils.cc b/onnxruntime/core/framework/debug_node_inputs_outputs_utils.cc
index 3f4718b0ac..100779a5ca 100644
--- a/onnxruntime/core/framework/debug_node_inputs_outputs_utils.cc
+++ b/onnxruntime/core/framework/debug_node_inputs_outputs_utils.cc
@@ -11,6 +11,7 @@
 #include "core/common/path_utils.h"
 #include "core/framework/tensorprotoutils.h"
 #include "core/platform/env.h"
+#include "core/platform/env_var_utils.h"
 
 namespace onnxruntime {
 namespace utils {
@@ -188,7 +189,13 @@ const NodeDumpOptions& NodeDumpOptionsFromEnvironmentVariables() {
 
     NodeDumpOptions opts{};
 
-    opts.dump_flags = NodeDumpOptions::DumpFlags::ShapeOnly;
+    // Preserve existing behavior of printing the shapes by default. Turn it off only if the user has requested so
+    // explicitly by setting the value of the env variable to 0.
+    opts.dump_flags = NodeDumpOptions::DumpFlags::None;
+    if (ParseEnvironmentVariable<bool>(env_vars::kDumpShapeData, true)) {
+      opts.dump_flags |= NodeDumpOptions::DumpFlags::Shape;
+    }
+
     if (get_bool_env_var(env_vars::kDumpInputData)) {
       opts.dump_flags |= NodeDumpOptions::DumpFlags::InputData;
     }
@@ -215,7 +222,10 @@ const NodeDumpOptions& NodeDumpOptionsFromEnvironmentVariables() {
     opts.output_dir = Path::Parse(ToPathString(Env::Default().GetEnvironmentVar(env_vars::kOutputDir)));
 
     // check for confirmation for dumping data to files for all nodes
-    if (opts.dump_flags != NodeDumpOptions::DumpFlags::ShapeOnly &&
+    const bool is_input_or_output_requested = ((opts.dump_flags & NodeDumpOptions::DumpFlags::InputData) != 0) ||
+                                              ((opts.dump_flags & NodeDumpOptions::DumpFlags::OutputData) != 0);
+
+    if (is_input_or_output_requested &&
         opts.data_destination == NodeDumpOptions::DataDestination::TensorProtoFiles &&
         opts.filter.name_pattern.empty() && opts.filter.op_type_pattern.empty()) {
       ORT_ENFORCE(
@@ -231,9 +241,24 @@ const NodeDumpOptions& NodeDumpOptionsFromEnvironmentVariables() {
   return node_dump_options;
 }
 
+static bool IsAnyOutputDumped(const NodeDumpOptions& dump_options) {
+  return dump_options.dump_flags != NodeDumpOptions::DumpFlags::None;
+}
+
+static void PrintIf(bool boolean_expression, const std::string& message) {
+  if (boolean_expression) {
+    std::cout << message;
+  }
+}
+
 void DumpNodeInputs(
     const NodeDumpOptions& dump_options,
     const OpKernelContext& context, const Node& node, const SessionState& session_state) {
+  const bool is_any_output_dumped = IsAnyOutputDumped(dump_options);
+  if (!is_any_output_dumped) {
+    return;
+  }
+
   if (!FilterNode(dump_options, node)) return;
 
   std::cout << "-----------\n";
@@ -252,7 +277,8 @@ void DumpNodeInputs(
           const auto& tensor = *context.Input<Tensor>(i);
           const auto& shape = tensor.Shape();
 
-          std::cout << " Shape: " << shape << "\n";
+          const bool is_shape_set = (dump_options.dump_flags & NodeDumpOptions::DumpFlags::Shape) != 0;
+          PrintIf(is_shape_set, MakeString(" Shape: ", shape, "\n"));
 
           if ((dump_options.dump_flags & NodeDumpOptions::DumpFlags::InputData) != 0) {
             DumpTensor(dump_options, tensor, input_defs[i]->Name(), session_state);
@@ -276,6 +302,11 @@ void DumpNodeInputs(
 }
 
 void DumpNodeOutputs(const NodeDumpOptions& dump_options, OpKernelContext& context, const Node& node, const SessionState& session_state) {
+  const bool is_any_output_dumped = IsAnyOutputDumped(dump_options);
+  if (!is_any_output_dumped) {
+    return;
+  }
+
   if (!FilterNode(dump_options, node)) return;
 
   std::cout << "-----------\n";
@@ -291,7 +322,8 @@ void DumpNodeOutputs(const NodeDumpOptions& dump_options, OpKernelContext& conte
           const auto& tensor = *context.Output<Tensor>(i);
           const auto& shape = tensor.Shape();
 
-          std::cout << " Shape: " << shape << "\n";
+          const bool is_shape_set = (dump_options.dump_flags & NodeDumpOptions::DumpFlags::Shape) != 0;
+          PrintIf(is_shape_set, MakeString(" Shape: ", shape, "\n"));
 
           if ((dump_options.dump_flags & NodeDumpOptions::DumpFlags::OutputData) != 0) {
             DumpTensor(dump_options, tensor, output_defs[i]->Name(), session_state);
diff --git a/onnxruntime/core/framework/debug_node_inputs_outputs_utils.h b/onnxruntime/core/framework/debug_node_inputs_outputs_utils.h
index bed1a9cb3c..a7b1699bfe 100644
--- a/onnxruntime/core/framework/debug_node_inputs_outputs_utils.h
+++ b/onnxruntime/core/framework/debug_node_inputs_outputs_utils.h
@@ -18,6 +18,10 @@ namespace utils {
 
 // environment variables that control debug node dumping behavior
 namespace debug_node_inputs_outputs_env_vars {
+// Shape is printed by default unless it's turned OFF by setting environment
+// variable ORT_DEBUG_NODE_IO_DUMP_SHAPE_DATA to 0.
+// set to non-zero to dump shape data
+constexpr const char* kDumpShapeData = "ORT_DEBUG_NODE_IO_DUMP_SHAPE_DATA";
 // set to non-zero to dump node input data
 constexpr const char* kDumpInputData = "ORT_DEBUG_NODE_IO_DUMP_INPUT_DATA";
 // set to non-zero to dump node output data
@@ -43,10 +47,11 @@ constexpr char kFilterPatternDelimiter = ';';
 
 struct NodeDumpOptions {
   enum DumpFlags {
-    ShapeOnly = 0,
-    InputData = 1 << 0,
-    OutputData = 1 << 1,
-    AllData = InputData | OutputData,
+    None = 0,
+    Shape = 1 << 0,
+    InputData = 1 << 1,
+    OutputData = 1 << 2,
+    AllData = Shape | InputData | OutputData,
   };
 
   // specifies the information to dump per node
@@ -54,7 +59,7 @@ struct NodeDumpOptions {
   // Note:
   // When dumping every node, dumping both input and output may be redundant.
   // Doing that may be more useful when dumping a subset of all nodes.
-  int dump_flags{DumpFlags::ShapeOnly};
+  int dump_flags{DumpFlags::Shape};
 
   // filters the nodes that are dumped
   // Note: