diff --git a/CHANGELOG.md b/CHANGELOG.md
index 83eda417d..d88850eb7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -176,7 +176,7 @@ All-in-all, we're around ~160 commits worth of updates, check changelog for full
   - `GGUF` with pre-quantized weights  
   - Switch `GGUF` loader from custom to diffuser native
 - **IPEX**: update to IPEX 2.5.10+xpu  
-- **OpenVINO**: update to 2024.5.0  
+- **OpenVINO**: update to 2024.6.0  
 - **Sampler** improvements  
   - UniPC, DEIS, SA, DPM-Multistep: allow FlowMatch sigma method and prediction type  
   - Euler FlowMatch: add sigma methods (*karras/exponential/betas*)  
diff --git a/installer.py b/installer.py
index 55f23c27f..4e99bd054 100644
--- a/installer.py
+++ b/installer.py
@@ -652,12 +652,12 @@ def install_ipex(torch_command):
 
 
 def install_openvino(torch_command):
-    check_python(supported_minors=[8, 9, 10, 11, 12], reason='OpenVINO backend requires Python 3.9, 3.10 or 3.11')
+    check_python(supported_minors=[9, 10, 11, 12], reason='OpenVINO backend requires Python 3.9, 3.10 or 3.11')
     log.info('OpenVINO: selected')
     torch_command = os.environ.get('TORCH_COMMAND', 'torch==2.3.1+cpu torchvision==0.18.1+cpu --index-url https://download.pytorch.org/whl/cpu')
-    install(os.environ.get('OPENVINO_PACKAGE', 'openvino==2024.5.0'), 'openvino')
+    install(os.environ.get('OPENVINO_PACKAGE', 'openvino==2024.6.0'), 'openvino')
     install(os.environ.get('ONNXRUNTIME_PACKAGE', 'onnxruntime-openvino'), 'onnxruntime-openvino', ignore=True)
-    install('nncf==2.12.0', 'nncf')
+    install('nncf==2.14.1', 'nncf')
     os.environ.setdefault('PYTORCH_TRACING_MODE', 'TORCHFX')
     if os.environ.get("NEOReadDebugKeys", None) is None:
         os.environ.setdefault('NEOReadDebugKeys', '1')