diff --git a/elyra/tests/kfp/resources/test-bad-requirements-elyra.txt b/elyra/tests/kfp/resources/test-bad-requirements-elyra.txt
index 59dd8e2d0..be4ec368c 100644
--- a/elyra/tests/kfp/resources/test-bad-requirements-elyra.txt
+++ b/elyra/tests/kfp/resources/test-bad-requirements-elyra.txt
@@ -1,4 +1,4 @@
-ipykernel==5.3.0
+ipykernel==6.9.1
 ipython==7.15.0
 ipython-genutils==0.2.0
 papermill==1.2.2
diff --git a/elyra/tests/kfp/resources/test-requirements-elyra.txt b/elyra/tests/kfp/resources/test-requirements-elyra.txt
index 34314e4f5..b3d4db5a0 100644
--- a/elyra/tests/kfp/resources/test-requirements-elyra.txt
+++ b/elyra/tests/kfp/resources/test-requirements-elyra.txt
@@ -1,11 +1,11 @@
-ipykernel==5.3.0
-ipython==7.15.0
+ipykernel==6.9.1
+ipython==7.16.3
 ipython-genutils==0.2.0
 #jedi==0.17.0
 #Jinja2==2.11.2
 #jsonschema==3.2.0
-jupyter-client==6.1.6
-jupyter-core==4.6.3
+jupyter-client==7.1.2
+jupyter-core==4.9.2
 minio==6.0.2
 nbclient==0.4.1
 nbconvert==5.6.1
diff --git a/etc/generic/requirements-elyra.txt b/etc/generic/requirements-elyra.txt
index ced51105a..e80f3f673 100644
--- a/etc/generic/requirements-elyra.txt
+++ b/etc/generic/requirements-elyra.txt
@@ -1,14 +1,14 @@
 # This is a comprehensive list of python dependencies that Elyra requires to execute Jupyter notebooks.
-ipykernel==5.3.0
+ipykernel==6.9.1
 ipython==7.16.3
 ipython-genutils==0.2.0
-jupyter-client==6.1.6
-jupyter-core==4.6.3
+jupyter-client==7.1.2
+jupyter-core==4.9.2
 minio==7.1.2
 nbclient==0.4.1
 nbconvert==5.6.1
 nbformat==5.0.7
-papermill==2.1.2
+papermill==2.3.4
 pyzmq==19.0.1
 prompt-toolkit==3.0.5
 requests==2.25.1
diff --git a/setup.py b/setup.py
index 382dc432a..09b556b05 100644
--- a/setup.py
+++ b/setup.py
@@ -90,7 +90,7 @@
         'nbdime~=3.1',
         'nbformat>=5.1.2',
         'networkx>=2.5.1',
-        'papermill>=2.1.3',
+        'papermill>=2.3.4',
         'python-lsp-server[all]>=1.1.0',
         'pyyaml>=5.3.1,<6.0',
         'requests>=2.25.1,<3.0',