diff --git a/app/vmstorage/transport/server.go b/app/vmstorage/transport/server.go
index ace63200ec..40dcf92a56 100644
--- a/app/vmstorage/transport/server.go
+++ b/app/vmstorage/transport/server.go
@@ -1158,7 +1158,6 @@ func (ctx *vmselectRequestCtx) setupTfss(s *storage.Storage, tr storage.TimeRang
 			}
 		}
 		tfss = append(tfss, tfs)
-		tfss = append(tfss, tfs.Finalize()...)
 	}
 	ctx.tfss = tfss
 	return nil
diff --git a/docs/CHANGELOG.md b/docs/CHANGELOG.md
index 07d0e5ea1e..559d8ef21d 100644
--- a/docs/CHANGELOG.md
+++ b/docs/CHANGELOG.md
@@ -12,6 +12,7 @@ sort: 15
 * FEATURE: add new relabeling actions: `keep_metrics` and `drop_metrics`. This simplifies metrics filtering by metric names. See [these docs](https://docs.victoriametrics.com/vmagent.html#relabeling) for more details.
 * FAETURE: allow splitting long `regex` in relabeling filters into an array of shorter regexps, which can be put into multiple lines for better readability and maintainability. See [these docs](https://docs.victoriametrics.com/vmagent.html#relabeling) for more details.
 
+* BUGFIX: properly handle queries with multiple filters matching empty labels such as `metric{label1=~"foo|",label2="bar|"}`. This filter must match the following series: `metric`, `metric{label1="foo"}`, `metric{label2="bar"}` and `metric{label1="foo",label2="bar"}`. Previously it was matching only `metric{label1="foo",label2="bar"}`. See [this issue](https://github.com/VictoriaMetrics/VictoriaMetrics/issues/1601).
 * BUGFIX: vmselect: reset connection timeouts after each request to `vmstorage`. This should prevent from `cannot read data in 0.000 seconds: unexpected EOF` warning in logs. See [this issue](https://github.com/VictoriaMetrics/VictoriaMetrics/issues/1562). Thanks to @mxlxm .
 * BUGFIX: keep metric name for time series returned from [rollup_candlestick](https://docs.victoriametrics.com/MetricsQL.html#rollup_candlestick) function, since the returned series don't change the meaning of the original series. See [this issue](https://github.com/VictoriaMetrics/VictoriaMetrics/issues/1600).
 
diff --git a/lib/storage/index_db.go b/lib/storage/index_db.go
index 7c867cdab9..d6e2c9b86c 100644
--- a/lib/storage/index_db.go
+++ b/lib/storage/index_db.go
@@ -2472,7 +2472,7 @@ func (is *indexSearch) getMetricIDsForDateAndFilters(date uint64, tfs *TagFilter
 	}
 	for i, tfw := range tfws {
 		tf := tfw.tf
-		if tf.isNegative {
+		if tf.isNegative || tf.isEmptyMatch {
 			tfwsRemaining = append(tfwsRemaining, tfw)
 			continue
 		}
@@ -2577,7 +2577,7 @@ func (is *indexSearch) getMetricIDsForDateAndFilters(date uint64, tfs *TagFilter
 			return nil, err
 		}
 		storeFilterLoopsCount(&tfw, filterLoopsCount)
-		if tf.isNegative {
+		if tf.isNegative || tf.isEmptyMatch {
 			metricIDs.Subtract(m)
 		} else {
 			metricIDs.Intersect(m)
@@ -2733,6 +2733,7 @@ func (is *indexSearch) getMetricIDsForDateTagFilter(tf *tagFilter, date uint64,
 		logger.Panicf("BUG: unexpected tf.prefix %q; must start with commonPrefix %q", tf.prefix, commonPrefix)
 	}
 	kb := kbPool.Get()
+	defer kbPool.Put(kb)
 	if date != 0 {
 		// Use per-date search.
 		kb.B = is.marshalCommonPrefix(kb.B[:0], nsPrefixDateTagToMetricIDs)
@@ -2746,8 +2747,27 @@ func (is *indexSearch) getMetricIDsForDateTagFilter(tf *tagFilter, date uint64,
 	tfNew.isNegative = false // isNegative for the original tf is handled by the caller.
 	tfNew.prefix = kb.B
 	metricIDs, loopsCount, err := is.getMetricIDsForTagFilter(&tfNew, maxMetrics, maxLoopsCount)
-	kbPool.Put(kb)
-	return metricIDs, loopsCount, err
+	if err != nil {
+		return nil, loopsCount, err
+	}
+	if tf.isNegative || !tf.isEmptyMatch {
+		return metricIDs, loopsCount, nil
+	}
+	// The tag filter, which matches empty label such as {foo=~"bar|"}
+	// Convert it to negative filter, which matches {foo=~".+",foo!~"bar|"}.
+	// This fixes https://github.com/VictoriaMetrics/VictoriaMetrics/issues/1601
+	// See also https://github.com/VictoriaMetrics/VictoriaMetrics/issues/395
+	maxLoopsCount -= loopsCount
+	if err := tfNew.Init(kb.B, tf.key, []byte(".+"), false, true); err != nil {
+		logger.Panicf(`BUG: cannot init tag filter: {%q=~".+"}: %s`, tf.key, err)
+	}
+	m, lc, err := is.getMetricIDsForTagFilter(&tfNew, maxMetrics, maxLoopsCount)
+	loopsCount += lc
+	if err != nil {
+		return nil, loopsCount, err
+	}
+	m.Subtract(metricIDs)
+	return m, loopsCount, nil
 }
 
 func (is *indexSearch) getLoopsCountAndTimestampForDateFilter(date uint64, tf *tagFilter) (int64, int64, uint64) {
diff --git a/lib/storage/index_db_test.go b/lib/storage/index_db_test.go
index 504ef31968..632f5d284e 100644
--- a/lib/storage/index_db_test.go
+++ b/lib/storage/index_db_test.go
@@ -911,9 +911,6 @@ func testIndexDBCheckTSIDByName(db *indexDB, mns []MetricName, tsids []TSID, isC
 		if err := tfs.Add(nil, []byte(re), false, true); err != nil {
 			return fmt.Errorf("cannot create regexp tag filter for Graphite wildcard")
 		}
-		if tfsNew := tfs.Finalize(); len(tfsNew) > 0 {
-			return fmt.Errorf("unexpected non-empty tag filters returned by TagFilters.Finalize: %v", tfsNew)
-		}
 		tsidsFound, err = db.searchTSIDs([]*TagFilters{tfs}, tr, 1e5, noDeadline)
 		if err != nil {
 			return fmt.Errorf("cannot search by regexp tag filter for Graphite wildcard: %w", err)
@@ -922,6 +919,37 @@ func testIndexDBCheckTSIDByName(db *indexDB, mns []MetricName, tsids []TSID, isC
 			return fmt.Errorf("tsids is missing in regexp for Graphite wildcard tsidsFound\ntsid=%+v\ntsidsFound=%+v\ntfs=%s\nmn=%s", tsid, tsidsFound, tfs, mn)
 		}
 
+		// Search with a filter matching empty tag (a single filter)
+		// See https://github.com/VictoriaMetrics/VictoriaMetrics/issues/1601
+		tfs.Reset(mn.AccountID, mn.ProjectID)
+		if err := tfs.Add(nil, mn.MetricGroup, false, false); err != nil {
+			return fmt.Errorf("cannot create tag filter for MetricGroup: %w", err)
+		}
+		if err := tfs.Add([]byte("non-existent-tag"), []byte("foo|"), false, true); err != nil {
+			return fmt.Errorf("cannot create regexp tag filter for non-existing tag: %w", err)
+		}
+		tsidsFound, err = db.searchTSIDs([]*TagFilters{tfs}, tr, 1e5, noDeadline)
+		if err != nil {
+			return fmt.Errorf("cannot search with a filter matching empty tag: %w", err)
+		}
+
+		// Search with filters matching empty tags (multiple filters)
+		// See https://github.com/VictoriaMetrics/VictoriaMetrics/issues/1601
+		tfs.Reset(mn.AccountID, mn.ProjectID)
+		if err := tfs.Add(nil, mn.MetricGroup, false, false); err != nil {
+			return fmt.Errorf("cannot create tag filter for MetricGroup: %w", err)
+		}
+		if err := tfs.Add([]byte("non-existent-tag1"), []byte("foo|"), false, true); err != nil {
+			return fmt.Errorf("cannot create regexp tag filter for non-existing tag1: %w", err)
+		}
+		if err := tfs.Add([]byte("non-existent-tag2"), []byte("bar|"), false, true); err != nil {
+			return fmt.Errorf("cannot create regexp tag filter for non-existing tag2: %w", err)
+		}
+		tsidsFound, err = db.searchTSIDs([]*TagFilters{tfs}, tr, 1e5, noDeadline)
+		if err != nil {
+			return fmt.Errorf("cannot search with multipel filters matching empty tags: %w", err)
+		}
+
 		// Search with regexps.
 		tfs.Reset(mn.AccountID, mn.ProjectID)
 		if err := tfs.Add(nil, mn.MetricGroup, false, true); err != nil {
diff --git a/lib/storage/tag_filters.go b/lib/storage/tag_filters.go
index 2f492c9bb1..8a45844264 100644
--- a/lib/storage/tag_filters.go
+++ b/lib/storage/tag_filters.go
@@ -33,7 +33,7 @@ func convertToCompositeTagFilters(tfs *TagFilters) *TagFilters {
 	for _, tf := range tfs.tfs {
 		if len(tf.key) == 0 && !tf.isNegative && !tf.isRegexp {
 			name = tf.value
-		} else if !tf.isNegative {
+		} else if !tf.isNegative && !tf.isEmptyMatch {
 			hasPositiveFilter = true
 		}
 	}
@@ -108,8 +108,6 @@ func (tfs *TagFilters) AddGraphiteQuery(query []byte, paths []string, isNegative
 // Add adds the given tag filter to tfs.
 //
 // MetricGroup must be encoded with nil key.
-//
-// Finalize must be called after tfs is constructed.
 func (tfs *TagFilters) Add(key, value []byte, isNegative, isRegexp bool) error {
 	// Verify whether tag filter is empty.
 	if len(value) == 0 {
@@ -163,38 +161,6 @@ func (tfs *TagFilters) addTagFilter() *tagFilter {
 	return &tfs.tfs[len(tfs.tfs)-1]
 }
 
-// Finalize finalizes tfs and may return complementary TagFilters,
-// which must be added to the resulting set of tag filters.
-func (tfs *TagFilters) Finalize() []*TagFilters {
-	var tfssNew []*TagFilters
-	for i := range tfs.tfs {
-		tf := &tfs.tfs[i]
-		if !tf.isNegative && tf.isEmptyMatch {
-			// tf matches empty value, so it must be accompanied with `key!~".+"` tag filter
-			// in order to match time series without the given label.
-			tfssNew = append(tfssNew, tfs.cloneWithNegativeFilter(tf))
-		}
-	}
-	return tfssNew
-}
-
-func (tfs *TagFilters) cloneWithNegativeFilter(tfNegative *tagFilter) *TagFilters {
-	tfsNew := NewTagFilters(tfs.accountID, tfs.projectID)
-	for i := range tfs.tfs {
-		tf := &tfs.tfs[i]
-		if tf == tfNegative {
-			if err := tfsNew.Add(tf.key, []byte(".+"), true, true); err != nil {
-				logger.Panicf("BUG: unexpected error when creating a tag filter key=~'.+': %s", err)
-			}
-		} else {
-			if err := tfsNew.Add(tf.key, tf.value, tf.isNegative, tf.isRegexp); err != nil {
-				logger.Panicf("BUG: unexpected error when cloning a tag filter %s: %s", tf, err)
-			}
-		}
-	}
-	return tfsNew
-}
-
 // String returns human-readable value for tfs.
 func (tfs *TagFilters) String() string {
 	var bb bytes.Buffer