diff --git a/ads/aqua/evaluation.py b/ads/aqua/evaluation.py
index dfce6e3ee..3f0c25ed4 100644
--- a/ads/aqua/evaluation.py
+++ b/ads/aqua/evaluation.py
@@ -38,6 +38,7 @@
     JOB_INFRASTRUCTURE_TYPE_DEFAULT_NETWORKING,
     NB_SESSION_IDENTIFIER,
     UNKNOWN,
+    extract_id_and_name_from_tag,
     fire_and_forget,
     get_container_image,
     is_valid_ocid,
@@ -686,7 +687,7 @@ def create(
         self.telemetry.record_event_async(
             category="aqua/evaluation",
             action="create",
-            detail=evaluation_source.display_name,
+            detail=self._get_service_model_name(evaluation_source),
         )
 
         return AquaEvaluationSummary(
@@ -776,6 +777,34 @@ def _build_evaluation_runtime(
         )
 
         return runtime
+    
+    @staticmethod
+    def _get_service_model_name(
+        source: Union[ModelDeployment, DataScienceModel]
+    ) -> str:
+        """Gets the service model name from source. If it's ModelDeployment, needs to check
+        if its model has been fine tuned or not.
+
+        Parameters
+        ----------
+        source: Union[ModelDeployment, DataScienceModel]
+            An instance of either ModelDeployment or DataScienceModel
+
+        Returns
+        -------
+        str:
+            The service model name of source.
+        """
+        if isinstance(source, ModelDeployment):
+            fine_tuned_model_tag = source.freeform_tags.get(
+                Tags.AQUA_FINE_TUNED_MODEL_TAG.value, UNKNOWN
+            )
+            if not fine_tuned_model_tag:
+                return source.freeform_tags.get(Tags.AQUA_MODEL_NAME_TAG.value)
+            else:
+                return extract_id_and_name_from_tag(fine_tuned_model_tag)[1]
+        
+        return source.display_name
 
     @staticmethod
     def _get_evaluation_container(source_id: str) -> str:
diff --git a/ads/aqua/finetune.py b/ads/aqua/finetune.py
index bbc0b516c..3bcfc65b7 100644
--- a/ads/aqua/finetune.py
+++ b/ads/aqua/finetune.py
@@ -469,6 +469,7 @@ def create(
             **telemetry_kwargs,
         )
         # tracks unique fine-tuned models that were created in the user compartment
+        # TODO: retrieve the service model name for FT custom models.
         self.telemetry.record_event_async(
             category="aqua/service/finetune",
             action="create",
diff --git a/tests/unitary/with_extras/aqua/test_evaluation.py b/tests/unitary/with_extras/aqua/test_evaluation.py
index 612376c3a..5ea5b6e41 100644
--- a/tests/unitary/with_extras/aqua/test_evaluation.py
+++ b/tests/unitary/with_extras/aqua/test_evaluation.py
@@ -16,6 +16,7 @@
 from parameterized import parameterized
 
 from ads.aqua import utils
+from ads.aqua.data import Tags
 from ads.aqua.evaluation import (
     AquaEvalMetrics,
     AquaEvalReport,
@@ -28,9 +29,10 @@
     AquaRuntimeError,
 )
 from ads.aqua.extension.base_handler import AquaAPIhandler
-from ads.aqua.utils import EVALUATION_REPORT_JSON, EVALUATION_REPORT_MD
+from ads.aqua.utils import EVALUATION_REPORT_JSON, EVALUATION_REPORT_MD, UNKNOWN
 from ads.jobs.ads_job import DataScienceJob, DataScienceJobRun, Job
 from ads.model import DataScienceModel
+from ads.model.deployment.model_deployment import ModelDeployment
 from ads.model.model_version_set import ModelVersionSet
 
 null = None
@@ -523,6 +525,41 @@ def test_create_evaluation(
             "time_created": f"{oci_dsc_model.time_created}",
         }
 
+    def test_get_service_model_name(self):
+        # get service model name from fine tuned model deployment
+        source = (
+            ModelDeployment()
+            .with_freeform_tags(
+                **{
+                    Tags.AQUA_TAG.value: UNKNOWN,
+                    Tags.AQUA_FINE_TUNED_MODEL_TAG.value: "test_service_model_id#test_service_model_name",
+                    Tags.AQUA_MODEL_NAME_TAG.value: "test_fine_tuned_model_name"
+                }
+            )
+        )
+        service_model_name = self.app._get_service_model_name(source)
+        assert service_model_name == "test_service_model_name"
+
+        # get service model name from model deployment
+        source = (
+            ModelDeployment()
+            .with_freeform_tags(
+                **{
+                    Tags.AQUA_TAG.value: "active",
+                    Tags.AQUA_MODEL_NAME_TAG.value: "test_service_model_name"
+                }
+            )
+        )
+        service_model_name = self.app._get_service_model_name(source)
+        assert service_model_name == "test_service_model_name"
+
+        # get service model name from service model
+        source = DataScienceModel(
+            display_name="test_service_model_name"
+        )
+        service_model_name = self.app._get_service_model_name(source)
+        assert service_model_name == "test_service_model_name"
+
     @parameterized.expand(
         [
             (