diff --git a/condax/config.py b/condax/config.py
index f2be6ae..a11731a 100644
--- a/condax/config.py
+++ b/condax/config.py
@@ -2,10 +2,10 @@
 import platform
 import warnings
 from pathlib import Path
-from typing import TYPE_CHECKING, Generator, Optional
+from typing import TYPE_CHECKING, Generator, List, Optional
 
 import yaml
-from pydantic import BaseSettings, Field
+from pydantic import ConfigDict, Field
 
 with warnings.catch_warnings():
     # requests which is a transitive dependency has some chatty warnings during import
@@ -13,6 +13,7 @@
     import requests  # noqa: F401
 
 from ensureconda.api import ensureconda
+from pydantic_settings import BaseSettings
 
 if TYPE_CHECKING:
     from _typeshed import StrPath
@@ -25,15 +26,13 @@ def is_windows() -> bool:
 class Config(BaseSettings):
     prefix_path: Path = Path("~").expanduser() / ".condax"
     link_destination: Path = Path("~").expanduser() / ".local" / "bin"
-    channels = ["conda-forge", "defaults"]
+    channels: List[str] = ["conda-forge", "defaults"]
     conda_executable: Optional[Path] = Field(
         default=ensureconda(
             mamba=True, micromamba=True, conda=True, conda_exe=True, no_install=True
         )
     )
-
-    class Config:
-        env_prefix = "CONDAX_"
+    model_config = ConfigDict(env_prefix="CONDAX_")
 
     def ensure_conda_executable(self, require_mamba: bool = True):
         def candidates() -> "Generator[Optional[StrPath], None, None]":
diff --git a/condax/core.py b/condax/core.py
index e91e220..aeba321 100644
--- a/condax/core.py
+++ b/condax/core.py
@@ -5,7 +5,7 @@
 import sys
 from enum import Enum
 from pathlib import Path
-from typing import Any, Collection, Dict, Generator, List, Optional
+from typing import Collection, Dict, Generator, List, Optional
 
 import typer
 
@@ -130,17 +130,12 @@ def create_links(
 def prefix_metadata(env_prefix: Path) -> Generator[PrefixMetadata, None, None]:
     metadata_path = env_prefix / ".condax-metadata.json"
     if metadata_path.exists():
-        ret = PrefixMetadata.parse_file(metadata_path)
+        ret = PrefixMetadata.model_validate_json(metadata_path.read_text())
     else:
         ret = PrefixMetadata(prefix=env_prefix)
     yield ret
 
-    def encoder(obj: Any) -> "str | Any":
-        if isinstance(obj, Path):
-            return str(obj)
-        return obj
-
-    metadata_path.write_text(ret.json(indent=2, exclude_unset=True, encoder=encoder))
+    metadata_path.write_text(ret.model_dump_json(indent=2, exclude_unset=True))
 
 
 def remove_links(executables_to_unlink: Collection[Path], env_prefix: Path) -> None:
diff --git a/news/upgrade-pydantic.md b/news/upgrade-pydantic.md
new file mode 100644
index 0000000..c7a0578
--- /dev/null
+++ b/news/upgrade-pydantic.md
@@ -0,0 +1,3 @@
+### Fixed:
+
+* Update to support v2 of Pydantic.
diff --git a/pyproject.toml b/pyproject.toml
index d25a86c..01180f3 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -21,7 +21,8 @@ dependencies = [
 	"PyYAML",
 	"ensureconda",
 	"typer",
-	"pydantic",
+	"pydantic >=2",
+	"pydantic-settings",
 	'importlib_metadata; python_version < "3.8.0"',
 ]
 dynamic = ["version"]