diff --git a/sdks/python/setup.py b/sdks/python/setup.py
index 96afb23c5481..13cb492efd66 100644
--- a/sdks/python/setup.py
+++ b/sdks/python/setup.py
@@ -249,9 +249,9 @@ def get_portability_package_data():
             'pyyaml>=3.12,<7.0.0',
             'requests_mock>=1.7,<2.0',
             'tenacity>=5.0.2,<6.0',
-            'pytest>=4.4.0,<5.0',
-            'pytest-xdist>=1.29.0,<2',
-            'pytest-timeout>=1.3.3,<2',
+            'pytest>=7.1.2,<8.0',
+            'pytest-xdist>=2.5.0,<3',
+            'pytest-timeout>=2.1.0,<3',
             'scikit-learn>=0.20.0',
             'sqlalchemy>=1.3,<2.0',
             'psycopg2-binary>=2.8.5,<3.0.0',
diff --git a/sdks/python/tox.ini b/sdks/python/tox.ini
index 14b94291cfaf..9a2df72d5f91 100644
--- a/sdks/python/tox.ini
+++ b/sdks/python/tox.ini
@@ -93,10 +93,9 @@ commands =
   {toxinidir}/scripts/run_pytest.sh {envname} "{posargs}"
 
 [testenv:py38-cloudcoverage]
-# More recent versions of pytest-cov do not support pytest 4.4.0
 deps =
   codecov
-  pytest-cov==2.9.0
+  pytest-cov==3.0.0
 passenv = GIT_* BUILD_* ghprb* CHANGE_ID BRANCH_NAME JENKINS_* CODECOV_*
 extras = test,gcp,interactive,dataframe,aws
 commands =