diff --git a/ocs_ci/framework/conf/ocp_version/ocp-4.16-config.yaml b/ocs_ci/framework/conf/ocp_version/ocp-4.16-config.yaml
index 844d3668321..2cd9b6a5f7f 100644
--- a/ocs_ci/framework/conf/ocp_version/ocp-4.16-config.yaml
+++ b/ocs_ci/framework/conf/ocp_version/ocp-4.16-config.yaml
@@ -10,7 +10,7 @@ DEPLOYMENT:
   ignition_version: "3.2.0"
 ENV_DATA:
   # TODO: replace with 4.16 once template is available
-  vm_template: "rhcos-415.92.202311241643-0-vmware.x86_64"
+  vm_template: "rhcos-416.94.202403071059-0-vmware.x86_64"
   acm_hub_channel: release-2.10
   acm_version: "2.10"
   submariner_version: "0.17.0"