diff --git a/.github/dependabot.yml b/.github/dependabot.yml
index af83f8b2edac2..e6a1f74299fb5 100644
--- a/.github/dependabot.yml
+++ b/.github/dependabot.yml
@@ -11,7 +11,8 @@ updates:
     open-pull-requests-limit: 1
     package-ecosystem: "github-actions"
     schedule:
-      interval: "weekly"
+      interval: "daily"
+      time: "21:10"
     labels:
       - "dependabot"
       - "dependencies"
diff --git a/build.gradle b/build.gradle
index 55b31ca816214..d35a5898de7d0 100644
--- a/build.gradle
+++ b/build.gradle
@@ -38,6 +38,7 @@ import org.apache.tools.ant.taskdefs.condition.Os
 import org.opensearch.gradle.BuildPlugin
 import org.opensearch.gradle.Version
 import org.opensearch.gradle.VersionProperties
+import org.opensearch.gradle.VersionPropertiesGenerator
 import org.opensearch.gradle.info.BuildParams
 import org.opensearch.gradle.plugin.PluginBuildPlugin
 import org.opensearch.gradle.tar.SymbolicLinkPreservingTar
@@ -733,6 +734,30 @@ tasks.register('checkCompatibility', CheckCompatibilityTask) {
   description('Checks the compatibility with child components')
 }
 
+def generateVersionProperties = tasks.register("generateVersionProperties", WriteProperties) {
+  destinationFile = file("${buildDir}/version.properties")
+  comment = 'Generated version properties'
+
+  def libsTomlFile = file("gradle/libs.versions.toml")
+  def propertiesFile = file("${buildDir}/versions.properties")
+
+  doLast {
+    def properties = org.opensearch.gradle.VersionPropertiesGenerator.generateVersionProperties(libsTomlFile)
+
+    propertiesFile.withWriter('UTF-8') { writer ->
+      properties.store(writer, "Generated by Gradle")
+    }
+
+    println "Generated versions.properties at: ${propertiesFile.absolutePath}"
+  }
+}
+
+if (project != rootProject) {
+  processResources {
+    from(generateVersionProperties)
+  }
+}
+
 allprojects { project ->
   project.afterEvaluate {
     if (project.tasks.findByName('publishToMavenLocal')) {
diff --git a/buildSrc/build.gradle b/buildSrc/build.gradle
index b984ef3800490..43a62ca42c39b 100644
--- a/buildSrc/build.gradle
+++ b/buildSrc/build.gradle
@@ -57,19 +57,9 @@ if (project == rootProject) {
 // we update the version property to reflect if we are building a snapshot or a release build
 // we write this back out below to load it in the Build.java which will be shown in rest main action
 // to indicate this being a snapshot build or a release build.
-Properties props = VersionPropertiesLoader.loadBuildSrcVersion(project.file('version.properties'))
+Properties props = VersionPropertiesLoader.loadBuildSrcVersion(project.file('../gradle/libs.versions.toml'))
 version = props.getProperty("opensearch")
 
-def generateVersionProperties = tasks.register("generateVersionProperties", WriteProperties) {
-  destinationFile = file("${buildDir}/version.properties")
-  comment = 'Generated version properties'
-  properties(props)
-}
-
-processResources {
-  from(generateVersionProperties)
-}
-
 /*****************************************************************************
  *         Java version                                                      *
  *****************************************************************************/
@@ -123,6 +113,7 @@ dependencies {
   api 'org.jruby.joni:joni:2.2.1'
   api "com.fasterxml.jackson.core:jackson-databind:${props.getProperty('jackson_databind')}"
   api "org.ajoberstar.grgit:grgit-core:5.2.1"
+  implementation 'org.tomlj:tomlj:1.1.1'
 
   testFixturesApi "junit:junit:${props.getProperty('junit')}"
   testFixturesApi "com.carrotsearch.randomizedtesting:randomizedtesting-runner:${props.getProperty('randomizedrunner')}"
@@ -297,6 +288,10 @@ class VersionPropertiesLoader {
     } finally {
       is.close()
     }
+    props.forEach((key, value) -> {
+      String newValue = value.toString().replace("\"", "")
+      props.setProperty(key.toString(), newValue)
+    });
     loadBuildSrcVersion(props, System.getProperties())
     return props
   }
diff --git a/buildSrc/src/main/java/org/opensearch/gradle/VersionProperties.java b/buildSrc/src/main/java/org/opensearch/gradle/VersionProperties.java
index 4d8b62d95dff1..583f00ba4a766 100644
--- a/buildSrc/src/main/java/org/opensearch/gradle/VersionProperties.java
+++ b/buildSrc/src/main/java/org/opensearch/gradle/VersionProperties.java
@@ -34,11 +34,15 @@
 import org.apache.commons.lang3.StringUtils;
 
 import java.io.IOException;
-import java.io.InputStream;
+import java.nio.file.Path;
 import java.util.HashMap;
 import java.util.Map;
 import java.util.Properties;
 
+import org.tomlj.Toml;
+import org.tomlj.TomlParseResult;
+import org.tomlj.TomlTable;
+
 /**
  * Accessor for shared dependency versions used by opensearch, namely the opensearch and lucene versions.
  */
@@ -123,17 +127,30 @@ public static Map<String, String> getVersions() {
         }
     }
 
-    private static Properties getVersionProperties() {
-        Properties props = new Properties();
-        try (InputStream propsStream = VersionProperties.class.getResourceAsStream("/version.properties")) {
-            if (propsStream == null) {
-                throw new IllegalStateException("/version.properties resource missing");
+    private static void flattenToml(TomlTable tomlTable, Properties properties, String prefix) {
+        for (String key : tomlTable.keySet()) {
+            String fullKey = prefix.isEmpty() ? key : prefix + "." + key;
+            Object value = tomlTable.get(key);
+
+            if (value instanceof TomlTable) {
+                flattenToml((TomlTable) value, properties, fullKey);
+            } else {
+                properties.setProperty(key, value.toString());
             }
-            props.load(propsStream);
+        }
+    }
+
+    private static Properties getVersionProperties() {
+        TomlParseResult toml = null;
+        try {
+            toml = Toml.parse(Path.of("gradle/libs.versions.toml"));
         } catch (IOException e) {
-            throw new IllegalStateException("Failed to load version properties", e);
+            throw new RuntimeException(e);
         }
-        return props;
+
+        Properties properties = new Properties();
+        flattenToml(toml, properties, "");
+        return properties;
     }
 
     public static boolean isOpenSearchSnapshot() {
diff --git a/buildSrc/src/main/java/org/opensearch/gradle/VersionPropertiesGenerator.java b/buildSrc/src/main/java/org/opensearch/gradle/VersionPropertiesGenerator.java
new file mode 100644
index 0000000000000..2e68f4f4a5ac7
--- /dev/null
+++ b/buildSrc/src/main/java/org/opensearch/gradle/VersionPropertiesGenerator.java
@@ -0,0 +1,34 @@
+/*
+ * SPDX-License-Identifier: Apache-2.0
+ *
+ * The OpenSearch Contributors require contributions made to
+ * this file be licensed under the Apache-2.0 license or a
+ * compatible open source license.
+ */
+
+package org.opensearch.gradle;
+
+import java.io.File;
+import java.io.FileReader;
+import java.util.Properties;
+
+import org.tomlj.Toml;
+import org.tomlj.TomlParseResult;
+
+/**
+ * Generator for shared dependency versions used by opensearch, namely the opensearch and lucene versions.
+ */
+public class VersionPropertiesGenerator {
+
+    public static Properties generateVersionProperties(File tomlFile) throws Exception {
+        TomlParseResult toml = Toml.parse(new FileReader(tomlFile));
+        Properties properties = new Properties();
+
+        toml.getTable("versions").keySet().forEach(key -> {
+            String version = toml.getString("versions." + key);
+            properties.setProperty(key, version);
+        });
+
+        return properties;
+    }
+}
diff --git a/gradle/libs.versions.toml b/gradle/libs.versions.toml
new file mode 100644
index 0000000000000..ea65d32237d20
--- /dev/null
+++ b/gradle/libs.versions.toml
@@ -0,0 +1,79 @@
+[versions]
+opensearch        = "3.0.0"
+lucene            = "9.12.0"
+
+bundled_jdk_vendor = "adoptium"
+bundled_jdk = "21.0.4+7"
+
+# optional dependencies
+spatial4j         = "0.7"
+jts               = "1.15.0"
+jackson           = "2.17.2"
+jackson_databind  = "2.17.2"
+snakeyaml         = "2.1"
+icu4j             = "75.1"
+supercsv          = "2.4.0"
+log4j             = "2.21.0"
+slf4j             = "1.7.36"
+asm               = "9.7"
+jettison          = "1.5.4"
+woodstox          = "6.4.0"
+kotlin            = "1.7.10"
+antlr4            = "4.13.1"
+guava             = "32.1.1-jre"
+protobuf          = "3.25.5"
+jakarta_annotation = "1.3.5"
+google_http_client = "1.44.1"
+tdigest           = "3.3"
+hdrhistogram      = "2.2.2"
+
+# when updating the JNA version, also update the version in buildSrc/build.gradle
+jna               = "5.13.0"
+
+netty             = "4.1.114.Final"
+joda              = "2.12.7"
+
+# project reactor
+reactor_netty     = "1.1.22"
+reactor           = "3.5.20"
+
+# client dependencies
+httpclient5       = "5.3.1"
+httpcore5         = "5.2.5"
+httpclient        = "4.5.14"
+httpcore          = "4.4.16"
+httpasyncclient   = "4.1.5"
+commonslogging    = "1.2"
+commonscodec      = "1.16.1"
+commonslang       = "3.14.0"
+commonscompress   = "1.26.1"
+commonsio         = "2.16.0"
+# plugin dependencies
+aws               = "2.20.86"
+reactivestreams   = "1.0.4"
+
+# when updating this version, you need to ensure compatibility with:
+#  - plugins/ingest-attachment (transitive dependency, check the upstream POM)
+#  - distribution/tools/plugin-cli
+bouncycastle="1.78"
+# test dependencies
+randomizedrunner  = "2.7.1"
+junit             = "4.13.2"
+hamcrest          = "2.1"
+mockito           = "5.12.0"
+objenesis         = "3.2"
+bytebuddy         = "1.14.9"
+
+# benchmark dependencies
+jmh               = "1.35"
+
+# compression
+zstd              = "1.5.5-5"
+
+jzlib             = "1.1.3"
+
+resteasy          = "6.2.4.Final"
+
+# opentelemetry dependencies
+opentelemetry         = "1.41.0"
+opentelemetrysemconv  = "1.27.0-alpha"
diff --git a/settings.gradle b/settings.gradle
index 8412d198a2a29..86fb73b7cf7fb 100644
--- a/settings.gradle
+++ b/settings.gradle
@@ -139,6 +139,14 @@ include projects.toArray(new String[0])
 project(':build-tools').projectDir = new File(rootProject.projectDir, 'buildSrc')
 project(':build-tools:reaper').projectDir = new File(rootProject.projectDir, 'buildSrc/reaper')
 
+//dependencyResolutionManagement {
+//  versionCatalogs {
+//    libs {
+//      from(files("gradle/libs.versions.toml"))
+//    }
+//  }
+//}
+
 project(":libs").children.each { libsProject ->
   libsProject.name = "opensearch-${libsProject.name}"
 }
diff --git a/test/fixtures/hdfs-fixture/build.gradle b/test/fixtures/hdfs-fixture/build.gradle
index bc63362980bea..352d37bd2c646 100644
--- a/test/fixtures/hdfs-fixture/build.gradle
+++ b/test/fixtures/hdfs-fixture/build.gradle
@@ -74,7 +74,7 @@ dependencies {
   api 'org.apache.zookeeper:zookeeper:3.9.2'
   api "org.apache.commons:commons-text:1.12.0"
   api "commons-net:commons-net:3.11.1"
-  api "ch.qos.logback:logback-core:1.5.8"
+  api "ch.qos.logback:logback-core:1.5.9"
   api "ch.qos.logback:logback-classic:1.2.13"
   api "org.jboss.xnio:xnio-nio:3.8.16.Final"
   api 'org.jline:jline:3.27.0'