diff --git a/setup.py b/setup.py
index 44078324c7e..4cbc92c564c 100644
--- a/setup.py
+++ b/setup.py
@@ -139,7 +139,7 @@ def find_version(*file_paths):
 
 ONNX_EXTRAS = ["onnx~=1.13.1", "onnxruntime~=1.14.1;python_version < '3.11'"]
 
-OPENVINO_EXTRAS = ["openvino==2023.0.1"]
+OPENVINO_EXTRAS = ["openvino==2023.1"]
 
 
 EXTRAS_REQUIRE = {