diff --git a/requirements/docs.txt b/requirements/docs.txt
index a2d20bdeb..0137479e9 100644
--- a/requirements/docs.txt
+++ b/requirements/docs.txt
@@ -11,7 +11,7 @@ ipykernel>=5.1.0, <7.0.0 # required for executing notebooks via nbsphinx
 ipython>=7.2.0, <9.0.0 # required for executing notebooks nbsphinx
 # dependencies required for imports to work and docs to render properly (as mocking doesn't work well)
 # these should be identical to the ones in `setup.py` or `dev.txt`
-shap>=0.40.0, <0.44.0 # https://github.com/SeldonIO/alibi/issues/333
+shap>=0.46.0, <0.47.0 # https://github.com/SeldonIO/alibi/issues/333
 # pandoc
 # pandoc==2.9.2.1 # NB: as this is not a Python library, it should be installed manually on the system or via a package manager such as `conda`
 # alibi dependencies (these are installed on ReadTheDocs so are not mocked)
diff --git a/setup.py b/setup.py
index 050a1012b..84dc34220 100644
--- a/setup.py
+++ b/setup.py
@@ -13,7 +13,7 @@ def readme():
     'ray': ['ray>=0.8.7, <3.0.0'],
     # shap is separated due to build issues, see https://github.com/slundberg/shap/pull/1802
     'shap': [
-        'shap>=0.40.0, <0.44.0',  # versioning: https://github.com/SeldonIO/alibi/issues/333
+        'shap>=0.46.0, <0.47.0',  # versioning: https://github.com/SeldonIO/alibi/issues/333
         'numba>=0.50.0, !=0.54.0, <0.60.0',  # Avoid 0.54 due to: https://github.com/SeldonIO/alibi/issues/466
     ],
 
@@ -21,7 +21,7 @@ def readme():
     'torch': ['torch>=1.9.0, <3.0.0'],
     'all': [
         'ray>=0.8.7, <3.0.0',
-        'shap>=0.40.0, <0.44.0',
+        'shap>=0.46.0, <0.47.0',
         'numba>=0.50.0, !=0.54.0, <0.60.0',
         'tensorflow>=2.0.0, !=2.6.0, !=2.6.1, <2.15.0',
         'torch>=1.9.0, <3.0.0'