A method performed by a network entity for facilitating federated learning in a decentralized network slicing environment is provided. The method includes receiving, by the network entity present in each of one or more network slices associated with each of one or more network slice management function (NSMF) units, a request for creating a managed object instance (MOI) for federated learning for a network slice, from respective NSMF units, creating, by the network entity, the MOI for the federated learning for each of the one or more network slices, based on the response associated with a corresponding MOI for performance metrics, wherein an indication of the creating of the MOI for the federated learning is transmitted to the respective NSMF units, receiving, by the network entity from the respective NSMF units, a request for creating an MOI of an information object classes (IOC) for a subscription of the federated learning for respective network slices, based on the indication, wherein the MOI for subscription of the federated learning is created based on the request, and sending, by the network entity to a respective NSMF unit, a response for the federated learning based on the subscription for facilitating federated learning, when an event with respect to an associated performance metric is identified.