The disclosure relates to a 5th generation (5G) or 6th generation (6G) communication system for supporting a higher data transmission rate. A method and a Base Station (BS) for determining an optimal equalizer for managing interference in a communication network are provided. The method includes estimating channel coefficients of each slot of a plurality of slots based on received Demodulation Reference Signal (DM-RS) symbols, determining a covariance of interference-and-noise (Rz) matrix for at least one Resource Block (RB) of a plurality of RBs of each slot based on the channel coefficients, determining a noise variance (σ2) based on noise measurements performed for one or more sub-carriers without the interference, and determining an optimal equalizer from a plurality of equalizers for managing the interference, based on diagonal elements of the Rz matrix and σ2 of the at least one RB using a machine learning model.