diff --git a/model-optimizer/requirements.txt b/model-optimizer/requirements.txt
index a07c4ddcf6e..366dd9131d5 100644
--- a/model-optimizer/requirements.txt
+++ b/model-optimizer/requirements.txt
@@ -1,6 +1,6 @@
 tensorflow>=1.15.2,<2.0; python_version < "3.8"
 tensorflow>=2.2; python_version >= "3.8"
-mxnet>=1.0.0,<=1.5.1
+mxnet>=1.0.0,<=1.7.0
 networkx>=1.11
 numpy>=1.14.0,<1.19.0
 protobuf>=3.6.1
diff --git a/model-optimizer/requirements_mxnet.txt b/model-optimizer/requirements_mxnet.txt
index a7938c6b9d8..228cb06c426 100644
--- a/model-optimizer/requirements_mxnet.txt
+++ b/model-optimizer/requirements_mxnet.txt
@@ -1,4 +1,4 @@
-mxnet>=1.0.0,<=1.5.1
+mxnet>=1.0.0,<=1.7.0
 networkx>=1.11
 numpy>=1.14.0
 test-generator==0.1.1