diff --git a/src/pytorch_lightning/CHANGELOG.md b/src/pytorch_lightning/CHANGELOG.md
index c77d33b1e8..168f03d998 100644
--- a/src/pytorch_lightning/CHANGELOG.md
+++ b/src/pytorch_lightning/CHANGELOG.md
@@ -52,6 +52,8 @@ The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 
 -
 
+- Fixed an issue with the `BaseFinetuning` callback not setting the `track_running_stats` attribute for batch normaliztion layers ([#15063](https://github.com/Lightning-AI/lightning/pull/15063))
+
 
 ## [1.8.0] - 2022-11-01
 
diff --git a/src/pytorch_lightning/callbacks/finetuning.py b/src/pytorch_lightning/callbacks/finetuning.py
index 11cd81f7a2..0722f7b8e0 100644
--- a/src/pytorch_lightning/callbacks/finetuning.py
+++ b/src/pytorch_lightning/callbacks/finetuning.py
@@ -164,10 +164,25 @@ class BaseFinetuning(Callback):
         """
         modules = BaseFinetuning.flatten_modules(modules)
         for module in modules:
+            if isinstance(module, _BatchNorm):
+                module.track_running_stats = True
             # recursion could yield duplicate parameters for parent modules w/ parameters so disabling it
             for param in module.parameters(recurse=False):
                 param.requires_grad = True
 
+    @staticmethod
+    def freeze_module(module: Module) -> None:
+        """Freezes the parameters of the provided module.
+
+        Args:
+            module: A given module
+        """
+        if isinstance(module, _BatchNorm):
+            module.track_running_stats = False
+        # recursion could yield duplicate parameters for parent modules w/ parameters so disabling it
+        for param in module.parameters(recurse=False):
+            param.requires_grad = False
+
     @staticmethod
     def freeze(modules: Union[Module, Iterable[Union[Module, Iterable]]], train_bn: bool = True) -> None:
         """Freezes the parameters of the provided modules.
@@ -184,9 +199,7 @@ class BaseFinetuning(Callback):
             if isinstance(mod, _BatchNorm) and train_bn:
                 BaseFinetuning.make_trainable(mod)
             else:
-                # recursion could yield duplicate parameters for parent modules w/ parameters so disabling it
-                for param in mod.parameters(recurse=False):
-                    param.requires_grad = False
+                BaseFinetuning.freeze_module(mod)
 
     @staticmethod
     def filter_on_optimizer(optimizer: Optimizer, params: Iterable) -> List:
diff --git a/tests/tests_pytorch/callbacks/test_finetuning_callback.py b/tests/tests_pytorch/callbacks/test_finetuning_callback.py
index cd9b1df221..7043c913ad 100644
--- a/tests/tests_pytorch/callbacks/test_finetuning_callback.py
+++ b/tests/tests_pytorch/callbacks/test_finetuning_callback.py
@@ -147,19 +147,23 @@ def test_freeze_unfreeze_function(tmpdir):
             self.backbone = nn.Sequential(nn.Linear(32, 32), nn.BatchNorm1d(32), nn.ReLU(), nn.Linear(32, 2))
 
     model = FreezeModel()
+    assert model.backbone[1].track_running_stats
     BaseFinetuning.freeze(model, train_bn=True)
     assert not model.backbone[0].weight.requires_grad
     assert model.backbone[1].weight.requires_grad
+    assert model.backbone[1].track_running_stats
     assert not model.backbone[3].weight.requires_grad
 
     BaseFinetuning.freeze(model, train_bn=False)
     assert not model.backbone[0].weight.requires_grad
     assert not model.backbone[1].weight.requires_grad
+    assert not model.backbone[1].track_running_stats
     assert not model.backbone[3].weight.requires_grad
 
     BaseFinetuning.make_trainable(model)
     assert model.backbone[0].weight.requires_grad
     assert model.backbone[1].weight.requires_grad
+    assert model.backbone[1].track_running_stats
     assert model.backbone[3].weight.requires_grad
 
     BaseFinetuning.freeze(model.backbone[0], train_bn=False)
@@ -167,6 +171,7 @@ def test_freeze_unfreeze_function(tmpdir):
 
     BaseFinetuning.freeze(([(model.backbone[1]), [model.backbone[3]]]), train_bn=True)
     assert model.backbone[1].weight.requires_grad
+    assert model.backbone[1].track_running_stats
     assert not model.backbone[3].weight.requires_grad