diff --git a/README.md b/README.md
index 8886e958322..b7367e84477 100644
--- a/README.md
+++ b/README.md
@@ -379,7 +379,7 @@ You may also use one of the Dockerfiles in the [docker](./docker) directory to b
   - ONNX\* ~=1.13.1
   - OpenVINO\* >=2022.3.0
 
-This repository is tested on Python* 3.8.10, PyTorch* 2.0.1 (NVidia CUDA\* Toolkit 11.8) and TensorFlow* 2.12.1 (NVidia CUDA\* Toolkit 11.8).
+This repository is tested on Python* 3.8.10, PyTorch* 2.1.0 (NVidia CUDA\* Toolkit 11.8) and TensorFlow* 2.12.1 (NVidia CUDA\* Toolkit 11.8).
 
 ## NNCF Compressed Model Zoo
 
diff --git a/docs/Installation.md b/docs/Installation.md
index 063e2e6f7b3..17063a177f0 100644
--- a/docs/Installation.md
+++ b/docs/Installation.md
@@ -67,8 +67,9 @@ Use one of the Dockerfiles in the [docker](../docker) directory to build an imag
 The following table lists the recommended corresponding versions of backend packages
 as well as the supported versions of Python:
 
-| NNCF    | OpenVINO   | PyTorch  | ONNX     | TensorFlow | Python  |
-| ------- | ---------- | -------- | -------- | ---------- | ------- |
-| `2.6.0` | `2023.1.0` | `2.0.1`  | `1.13.1` | `2.12.0`   | `3.8`   |
-| `2.5.0` | `2023.0.0` | `1.13.1` | `1.13.1` | `2.11.1`   | `3.8`   |
-| `2.4.0` | `2022.1.0` | `1.12.1` | `1.12.0` | `2.8.2`    | `3.8`   |
+| NNCF      | OpenVINO   | PyTorch  | ONNX     | TensorFlow | Python |
+|-----------|------------|----------|----------|------------|--------|
+| `develop` | `2023.1.0` | `2.1`    | `1.13.1` | `2.12.0`   | `3.8`  |
+| `2.6.0`   | `2023.1.0` | `2.0.1`  | `1.13.1` | `2.12.0`   | `3.8`  |
+| `2.5.0`   | `2023.0.0` | `1.13.1` | `1.13.1` | `2.11.1`   | `3.8`  |
+| `2.4.0`   | `2022.1.0` | `1.12.1` | `1.12.0` | `2.8.2`    | `3.8`  |
diff --git a/nncf/version.py b/nncf/version.py
index 6fa2e735ef1..d86a60048ec 100644
--- a/nncf/version.py
+++ b/nncf/version.py
@@ -11,6 +11,6 @@
 
 __version__ = "2.6.0"
 
-BKC_TORCH_VERSION = "2.0.1"
-BKC_TORCHVISION_VERSION = "0.15.1"
+BKC_TORCH_VERSION = "2.1.1"
+BKC_TORCHVISION_VERSION = "0.16.0"
 BKC_TF_VERSION = "2.12.*"
diff --git a/setup.py b/setup.py
index 1ee5752f69e..7663a33a528 100644
--- a/setup.py
+++ b/setup.py
@@ -134,7 +134,7 @@ def find_version(*file_paths):
 ]
 
 TORCH_EXTRAS = [
-    "torch>=1.13.0,<2.1;python_version < '3.11'",
+    "torch>=2.0,<2.2;python_version < '3.11'",
 ]
 
 ONNX_EXTRAS = ["onnx~=1.13.1", "onnxruntime~=1.14.1;python_version < '3.11'"]
diff --git a/tests/post_training/requirements.txt b/tests/post_training/requirements.txt
index b86d947d391..b516ca9ec75 100644
--- a/tests/post_training/requirements.txt
+++ b/tests/post_training/requirements.txt
@@ -1,7 +1,7 @@
 --extra-index-url https://download.pytorch.org/whl/cpu
-torch==2.0.1
+torch==2.1.0
 --extra-index-url https://download.pytorch.org/whl/cpu
-torchvision==0.15.2
+torchvision==0.16.0
 transformers==4.30.0
 onnx==1.13.1
 onnxruntime==1.14.1