diff --git a/Dockerfile b/Dockerfile
index b021c4a055a00..8d13850c633c8 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -126,8 +126,8 @@ RUN --mount=type=cache,target=/var/cache/apt,sharing=locked \
     tk-dev \
     && sudo rm -rf /var/lib/apt/lists/*
 
-ARG PYTHON_VERSION=3.10.8
-ARG PYENV_GIT_TAG=v2.3.7
+ARG PYTHON_VERSION=3.11.4
+ARG PYENV_GIT_TAG=v2.3.27
 
 ENV PYENV_ROOT=/opt/python
 ENV PATH=$PATH:$PYENV_ROOT/shims:$PYENV_ROOT/bin
@@ -138,7 +138,7 @@ RUN curl -kSs https://pyenv.run | bash \
 ARG CONAN_VERSION=1.57.0
 ARG PYTHON_INSPECTOR_VERSION=0.9.8
 ARG PYTHON_PIPENV_VERSION=2022.9.24
-ARG PYTHON_POETRY_VERSION=1.2.2
+ARG PYTHON_POETRY_VERSION=1.6.1
 ARG PIPTOOL_VERSION=22.2.2
 ARG SCANCODE_VERSION=32.0.6
 
diff --git a/plugins/package-managers/python/src/main/kotlin/Pip.kt b/plugins/package-managers/python/src/main/kotlin/Pip.kt
index 18b45fb8d1120..f01bc7bff4acb 100644
--- a/plugins/package-managers/python/src/main/kotlin/Pip.kt
+++ b/plugins/package-managers/python/src/main/kotlin/Pip.kt
@@ -39,8 +39,8 @@ import org.ossreviewtoolkit.utils.ort.showStackTrace
 private const val OPTION_OPERATING_SYSTEM_DEFAULT = "linux"
 private val OPERATING_SYSTEMS = listOf(OPTION_OPERATING_SYSTEM_DEFAULT, "macos", "windows")
 
-private const val OPTION_PYTHON_VERSION_DEFAULT = "3.10"
-private val PYTHON_VERSIONS = listOf("2.7", "3.6", "3.7", "3.8", "3.9", OPTION_PYTHON_VERSION_DEFAULT)
+private const val OPTION_PYTHON_VERSION_DEFAULT = "3.11"
+private val PYTHON_VERSIONS = listOf("2.7", "3.6", "3.7", "3.8", "3.9", "3.10", OPTION_PYTHON_VERSION_DEFAULT)
 
 /**
  * The [PIP](https://pip.pypa.io/) package manager for Python. Also see