diff --git a/buildbot/dependency.conf b/buildbot/dependency.conf
index b920b02df0b19..3947ebfd199a0 100644
--- a/buildbot/dependency.conf
+++ b/buildbot/dependency.conf
@@ -3,10 +3,10 @@
 ocl_cpu_rt_ver=2020.11.11.0.04
 # https://github.com/intel/llvm/releases/download/2020-WW45/win-oclcpuexp-2020.11.11.0.04_rel.zip
 ocl_cpu_rt_ver_win=2020.11.11.0.04
-# Same GPU driver supports Level Zero and OpenCL:
-# https://github.com/intel/compute-runtime/releases/tag/20.45.18403
-ocl_gpu_rt_ver=20.45.18403
-# Same GPU driver supports Level Zero and OpenCL:
+# Same GPU driver supports Level Zero and OpenCL
+# https://github.com/intel/compute-runtime/releases/tag/20.46.18421
+ocl_gpu_rt_ver=20.46.18421
+# Same GPU driver supports Level Zero and OpenCL
 # https://downloadmirror.intel.com/29988/a08/igfx_win10_100.8935.zip
 ocl_gpu_rt_ver_win=27.20.100.8935
 intel_sycl_ver=build
@@ -24,7 +24,7 @@ fpga_ver_win=20201022_000005
 [DRIVER VERSIONS]
 cpu_driver_lin=2020.11.11.0.04
 cpu_driver_win=2020.11.11.0.04
-gpu_driver_lin=20.45.18403
+gpu_driver_lin=20.46.18421
 gpu_driver_win=27.20.100.8935
 fpga_driver_lin=2020.11.11.0.04
 fpga_driver_win=2020.11.11.0.04
diff --git a/sycl/plugins/level_zero/CMakeLists.txt b/sycl/plugins/level_zero/CMakeLists.txt
index ec8d0e1a0fc22..8db98c436b388 100755
--- a/sycl/plugins/level_zero/CMakeLists.txt
+++ b/sycl/plugins/level_zero/CMakeLists.txt
@@ -23,7 +23,7 @@ if (NOT DEFINED LEVEL_ZERO_LIBRARY OR NOT DEFINED LEVEL_ZERO_INCLUDE_DIR)
   endif()
   ExternalProject_Add(level-zero-loader
     GIT_REPOSITORY    https://github.com/oneapi-src/level-zero.git
-    GIT_TAG           v1.0
+    GIT_TAG           v1.0.16
     UPDATE_DISCONNECTED ${SYCL_EP_LEVEL_ZERO_LOADER_SKIP_AUTO_UPDATE}
     SOURCE_DIR        ${LEVEL_ZERO_LOADER_SOURCE_DIR}
     BINARY_DIR        "${CMAKE_CURRENT_BINARY_DIR}/level_zero_loader_build"