diff --git a/.github/meta.yaml b/.github/meta.yaml
index 26b4c2fd3a..800145bf10 100644
--- a/.github/meta.yaml
+++ b/.github/meta.yaml
@@ -40,7 +40,7 @@ outputs:
         - featuretools >=1.16.0
         - nlp-primitives >=2.9.0
         - python >=3.9.*
-        - networkx >=2.7
+        - networkx >=2.7, <=3.2.1
         - category_encoders >=2.2.2, <=2.5.1.post0
         - python-graphviz >=0.13
         - tomli >=2.0.1
diff --git a/docs/source/release_notes.rst b/docs/source/release_notes.rst
index fac00b6ad9..2c25988832 100644
--- a/docs/source/release_notes.rst
+++ b/docs/source/release_notes.rst
@@ -3,6 +3,7 @@ Release Notes
 **Future Releases**
     * Enhancements
     * Fixes
+        * Updated sktime and scikit-learn latest dependency version :pr:`4449`
         * Switched windows nightly tests to run serially instead of in parallel :pr:`4452`
     * Changes
     * Documentation Changes
diff --git a/evalml/tests/dependency_update_check/latest_dependency_versions.txt b/evalml/tests/dependency_update_check/latest_dependency_versions.txt
index cf73c73180..cbb10e967b 100644
--- a/evalml/tests/dependency_update_check/latest_dependency_versions.txt
+++ b/evalml/tests/dependency_update_check/latest_dependency_versions.txt
@@ -25,12 +25,12 @@ pandas==2.0.3
 plotly==5.22.0
 pmdarima==2.0.4
 pyzmq==26.0.3
-scikit-learn==1.4.2
+scikit-learn==1.5.0
 scikit-optimize==0.10.2
 scipy==1.13.1
 seaborn==0.13.2
 shap==0.45.1
-sktime==0.28.1
+sktime==0.30.1
 statsmodels==0.14.2
 texttable==1.7.0
 tomli==2.0.1
diff --git a/pyproject.toml b/pyproject.toml
index e410a830fa..aa6bff7c84 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -46,7 +46,7 @@ dependencies = [
     "distributed >= 2022.2.0, != 2022.10.1",
     "featuretools[dask] >= 1.16.0",
     "nlp-primitives >= 2.9.0",
-    "networkx >= 2.7",
+    "networkx >= 2.7, <= 3.2.1",
     "plotly >= 5.0.0",
     "kaleido >= 0.2.0",
     "ipywidgets >= 7.5",