diff --git a/build_scripts/build_usd.py b/build_scripts/build_usd.py
index c767bd514f..c363b2d15f 100644
--- a/build_scripts/build_usd.py
+++ b/build_scripts/build_usd.py
@@ -717,7 +717,7 @@ def InstallZlib(context, force, buildArgs):
 def InstallBoost_Helper(context, force, buildArgs):
     # In general we use boost 1.76.0 to adhere to VFX Reference Platform CY2022.
     # However, there are some cases where a newer version is required.
-    # - Building with Python 3.10 requires boost 1.76.0 or newer.
+    # - Building with Python 3.10 requires boost 1.76.0 or newer, while 3.11 requires 1.82.
     #   (https://github.com/boostorg/python/commit/cbd2d9)
     #   XXX: Due to a typo we've been using 1.78.0 in this case for a while.
     #        We're leaving it that way to minimize potential disruption.
@@ -727,7 +727,9 @@ def InstallBoost_Helper(context, force, buildArgs):
     #   compatibility issues on Big Sur and Monterey.
     pyInfo = GetPythonInfo(context)
     pyVer = (int(pyInfo[3].split('.')[0]), int(pyInfo[3].split('.')[1]))
-    if context.buildPython and pyVer >= (3, 10):
+    if context.buildPython and pyVer >= (3, 11):
+        BOOST_URL = "https://boostorg.jfrog.io/artifactory/main/release/1.82.0/source/boost_1_82_0.zip"
+    elif context.buildPython and pyVer >= (3, 10):
         BOOST_URL = "https://boostorg.jfrog.io/artifactory/main/release/1.78.0/source/boost_1_78_0.zip"
     elif IsVisualStudio2022OrGreater():
         BOOST_URL = "https://boostorg.jfrog.io/artifactory/main/release/1.78.0/source/boost_1_78_0.zip"