diff --git a/setup.py b/setup.py
index ff90a3560b..32d864d9f1 100644
--- a/setup.py
+++ b/setup.py
@@ -2,7 +2,7 @@
 # -*- coding: utf-8 -*-
 # ------------------------------------------------------------------------------
 #
-#   Copyright 2021-2023 Valory AG
+#   Copyright 2021-2024 Valory AG
 #   Copyright 2018-2019 Fetch.AI Limited
 #
 #   Licensed under the Apache License, Version 2.0 (the "License");
@@ -61,7 +61,7 @@ def get_all_extras() -> Dict:
     "pymultihash==0.8.2",
     "pyyaml==6.0.1",
     "requests==2.28.1",
-    "python-dotenv>=0.14.0,<0.18.0",
+    "python-dotenv>=0.14.0,<0.22.0",
     "ecdsa>=0.15,<0.17.0",
     "morphys>=1.0",
     "py-multibase>=1.0.0",