diff --git a/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2020.4.bb b/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2021.1.bb
similarity index 91%
rename from dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2020.4.bb
rename to dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2021.1.bb
index 996633b3..abd772cd 100644
--- a/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2020.4.bb
+++ b/dynamic-layers/meta-python/recipes-opencv/dldt/openvino-model-optimizer_2021.1.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/2020/4;lfs=0 \
+SRC_URI = "git://github.com/openvinotoolkit/openvino.git;protocol=https;branch=releases/2021/1;lfs=0 \
            "
-SRCREV = "023e7c2c3f8a8ac83564db09799d2049115d9cf6"
+SRCREV = "f557dca475cb54dcfc9026fbaad0d93ddb85015c"
 
 LICENSE = "Apache-2.0"
 LIC_FILES_CHKSUM = "file://LICENSE;md5=86d3f3a95c324c9479bd8986968f4327"