diff --git a/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2024.0.0.bb b/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2024.1.0.bb
similarity index 92%
rename from dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2024.0.0.bb
rename to dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2024.1.0.bb
index 70177c28..de765d6c 100644
--- a/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2024.0.0.bb
+++ b/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2024.1.0.bb
@@ -5,9 +5,9 @@ environment, performs static model analysis, and adjusts deep \
 learning models for optimal execution on end-point target devices."
 HOMEPAGE = "https://01.org/openvinotoolkit"
 
-SRC_URI = "git://github.com/openvinotoolkit/openvino.git;protocol=https;branch=releases/2024/0;lfs=0 \
+SRC_URI = "git://github.com/openvinotoolkit/openvino.git;protocol=https;branch=releases/2024/1;lfs=0 \
            "
-SRCREV = "34caeefd07800b59065345d651949efbe8ab6649"
+SRCREV = "f4afc983258bcb2592d999ed6700043fdb58ad78"
 
 LICENSE = "Apache-2.0"
 LIC_FILES_CHKSUM = "file://LICENSE;md5=86d3f3a95c324c9479bd8986968f4327"