diff --git a/ci/gpu/build.sh b/ci/gpu/build.sh
index 00ad6bf812d..5646c268301 100755
--- a/ci/gpu/build.sh
+++ b/ci/gpu/build.sh
@@ -33,6 +33,9 @@ export MINOR_VERSION=`echo $GIT_DESCRIBE_TAG | grep -o -E '([0-9]+\.[0-9]+)'`
 # Dask & Distributed git tag
 export DASK_DISTRIBUTED_GIT_TAG='2021.11.2'
 
+# ucx-py version
+export UCX_PY_VERSION='0.24.*'
+
 ################################################################################
 # TRAP - Setup trap for removing jitify cache
 ################################################################################
@@ -83,7 +86,7 @@ gpuci_mamba_retry install -y \
                   "rapids-notebook-env=$MINOR_VERSION.*" \
                   "dask-cuda=${MINOR_VERSION}" \
                   "rmm=$MINOR_VERSION.*" \
-                  "ucx-py=0.24.*"
+                  "ucx-py=${UCX_PY_VERSION}"
 
 # https://docs.rapids.ai/maintainers/depmgmt/
 # gpuci_mamba_retry remove --force rapids-build-env rapids-notebook-env
diff --git a/ci/gpu/java.sh b/ci/gpu/java.sh
index bada16bd40e..6f7038d21d7 100755
--- a/ci/gpu/java.sh
+++ b/ci/gpu/java.sh
@@ -30,6 +30,9 @@ export CONDA_ARTIFACT_PATH="$WORKSPACE/ci/artifacts/cudf/cpu/.conda-bld/"
 export GIT_DESCRIBE_TAG=`git describe --tags`
 export MINOR_VERSION=`echo $GIT_DESCRIBE_TAG | grep -o -E '([0-9]+\.[0-9]+)'`
 
+# ucx-py version
+export UCX_PY_VERSION='0.24.*'
+
 ################################################################################
 # TRAP - Setup trap for removing jitify cache
 ################################################################################
@@ -80,7 +83,7 @@ gpuci_conda_retry install -y \
                   "rapids-notebook-env=$MINOR_VERSION.*" \
                   "dask-cuda=${MINOR_VERSION}" \
                   "rmm=$MINOR_VERSION.*" \
-                  "ucx-py=0.24.*" \
+                  "ucx-py=${UCX_PY_VERSION}" \
                   "openjdk=8.*" \
                   "maven"
 
diff --git a/ci/release/update-version.sh b/ci/release/update-version.sh
index 86432a92128..1105b9c194d 100755
--- a/ci/release/update-version.sh
+++ b/ci/release/update-version.sh
@@ -21,6 +21,7 @@ CURRENT_SHORT_TAG=${CURRENT_MAJOR}.${CURRENT_MINOR}
 NEXT_MAJOR=$(echo $NEXT_FULL_TAG | awk '{split($0, a, "."); print a[1]}')
 NEXT_MINOR=$(echo $NEXT_FULL_TAG | awk '{split($0, a, "."); print a[2]}')
 NEXT_SHORT_TAG=${NEXT_MAJOR}.${NEXT_MINOR}
+NEXT_UCX_PY_VERSION="$(curl -sL https://version.gpuci.io/rapids/${NEXT_SHORT_TAG}).*"
 
 echo "Preparing release $CURRENT_TAG => $NEXT_FULL_TAG"
 
@@ -62,3 +63,7 @@ sed_runner "s/cudf=${CURRENT_SHORT_TAG}/cudf=${NEXT_SHORT_TAG}/g" README.md
 
 # Libcudf examples update
 sed_runner "s/CUDF_TAG branch-${CURRENT_SHORT_TAG}/CUDF_TAG branch-${NEXT_SHORT_TAG}/" cpp/examples/basic/CMakeLists.txt
+
+# ucx-py version update
+sed_runner "s/export UCX_PY_VERSION=.*/export UCX_PY_VERSION='${NEXT_UCX_PY_VERSION}'/g" ci/gpu/build.sh
+sed_runner "s/export UCX_PY_VERSION=.*/export UCX_PY_VERSION='${NEXT_UCX_PY_VERSION}'/g" ci/gpu/java.sh