diff --git a/ci/gpu/build.sh b/ci/gpu/build.sh
index c2a318c39a..c8d526703f 100644
--- a/ci/gpu/build.sh
+++ b/ci/gpu/build.sh
@@ -29,6 +29,9 @@ export MINOR_VERSION=`echo $GIT_DESCRIBE_TAG | grep -o -E '([0-9]+\.[0-9]+)'`
 # Read options for cloning/running downstream repo tests
 source "$WORKSPACE/ci/prtest.config"
 
+# ucx-py version
+export UCX_PY_VERSION='0.24.*'
+
 ################################################################################
 # SETUP - Check environment
 ################################################################################
@@ -52,7 +55,7 @@ gpuci_mamba_retry install -c conda-forge -c rapidsai -c rapidsai-nightly -c nvid
       "rmm=${MINOR_VERSION}" \
       "dask-cudf=${MINOR_VERSION}" \
       "dask-cuda=${MINOR_VERSION}" \
-      "ucx-py=0.24.*" \
+      "ucx-py=${UCX_PY_VERSION}" \
       "rapids-build-env=${MINOR_VERSION}.*" \
       "rapids-notebook-env=${MINOR_VERSION}.*" \
       "rapids-doc-env=${MINOR_VERSION}.*"
diff --git a/ci/local/old-gpubuild.sh b/ci/local/old-gpubuild.sh
index 7f0f375d77..ce6db28291 100644
--- a/ci/local/old-gpubuild.sh
+++ b/ci/local/old-gpubuild.sh
@@ -29,6 +29,9 @@ export MINOR_VERSION=`echo $GIT_DESCRIBE_TAG | grep -o -E '([0-9]+\.[0-9]+)'`
 # Read options for cloning/running downstream repo tests
 source "$WORKSPACE/ci/prtest.config"
 
+# ucx-py version
+export UCX_PY_VERSION='0.24.*'
+
 ################################################################################
 # SETUP - Check environment
 ################################################################################
@@ -56,7 +59,7 @@ gpuci_conda_retry install -c conda-forge -c rapidsai -c rapidsai-nightly -c nvid
       "distributed>=2.12.0" \
       "dask-cudf=${MINOR_VERSION}" \
       "dask-cuda=${MINOR_VERSION}" \
-      "ucx-py=0.24.*"
+      "ucx-py=${UCX_PY_VERSION}"
 
 if [ "$RUN_CUML_LIBCUML_TESTS" = "ON" ] || [ "$RUN_CUML_PRIMS_TESTS" = "ON" ] || [ "$RUN_CUML_PYTHON_TESTS" = "ON" ]; then
   gpuci_conda_retry install -c conda-forge -c rapidsai -c rapidsai-nightly -c nvidia \
diff --git a/ci/release/update-version.sh b/ci/release/update-version.sh
index 45383aaf68..58eb3bbd67 100755
--- a/ci/release/update-version.sh
+++ b/ci/release/update-version.sh
@@ -22,6 +22,7 @@ CURRENT_SHORT_TAG=${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"
 
@@ -31,4 +32,11 @@ function sed_runner() {
 }
 
 sed_runner 's/'"RAFT VERSION .* LANGUAGES"'/'"RAFT VERSION ${NEXT_FULL_TAG} LANGUAGES"'/g' cpp/CMakeLists.txt
-sed_runner 's/'"branch-.*\/RAPIDS.cmake"'/'"branch-${NEXT_SHORT_TAG}\/RAPIDS.cmake"'/g' cpp/CMakeLists.txt
\ No newline at end of file
+sed_runner 's/'"branch-.*\/RAPIDS.cmake"'/'"branch-${NEXT_SHORT_TAG}\/RAPIDS.cmake"'/g' cpp/CMakeLists.txt
+
+for FILE in conda/environments/*.yml; do
+  sed_runner "s/ucx-py=.*/ucx-py=${NEXT_UCX_PY_VERSION}/g" ${FILE};
+done
+
+sed_runner "s/export UCX_PY_VERSION=.*/export UCX_PY_VERSION='${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/local/old-gpubuild.sh