diff --git a/pyproject.toml b/pyproject.toml
index b45f60489c6fe..a63da5f246392 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -180,6 +180,7 @@ markers = [
 ]
 filterwarnings = [
     "error::FutureWarning",
+    "ignore::FutureWarning:onnxscript", # Temporary ignore until onnxscript is updated
 ]
 xfail_strict = true
 junit_duration_report = "call"
diff --git a/requirements/fabric/base.txt b/requirements/fabric/base.txt
index 6b55dc93bb089..b905e18f9f5d6 100644
--- a/requirements/fabric/base.txt
+++ b/requirements/fabric/base.txt
@@ -4,5 +4,5 @@
 torch >=2.1.0, <2.8.0
 fsspec[http] >=2022.5.0, <2025.8.0
 packaging >=20.0, <=25.0
-typing-extensions >=4.5.0, <4.15.0
+typing-extensions >4.5.0, <4.15.0
 lightning-utilities >=0.10.0, <0.16.0
diff --git a/requirements/pytorch/base.txt b/requirements/pytorch/base.txt
index e62ebce95053d..c5157430c9e2a 100644
--- a/requirements/pytorch/base.txt
+++ b/requirements/pytorch/base.txt
@@ -7,5 +7,5 @@ PyYAML >5.4, <6.1.0
 fsspec[http] >=2022.5.0, <2025.8.0
 torchmetrics >0.7.0, <1.9.0
 packaging >=20.0, <=25.0
-typing-extensions >=4.5.0, <4.15.0
+typing-extensions >4.5.0, <4.15.0
 lightning-utilities >=0.10.0, <0.16.0
diff --git a/requirements/pytorch/docs.txt b/requirements/pytorch/docs.txt
index ac4a8df67ccf6..35cc6234ae5d2 100644
--- a/requirements/pytorch/docs.txt
+++ b/requirements/pytorch/docs.txt
@@ -4,4 +4,6 @@ nbformat  # used for generate empty notebook
 ipython[notebook] <8.19.0
 setuptools<81.0  # workaround for `error in ipython setup command: use_2to3 is invalid.`
 
+onnxscript >= 0.2.2, <0.4.0
+
 #-r ../../_notebooks/.actions/requires.txt
diff --git a/requirements/pytorch/test.txt b/requirements/pytorch/test.txt
index dec156747f714..d721ec7130eee 100644
--- a/requirements/pytorch/test.txt
+++ b/requirements/pytorch/test.txt
@@ -11,6 +11,7 @@ scikit-learn >0.22.1, <1.7.0
 numpy >=1.17.2, <1.27.0
 onnx >=1.12.0, <1.19.0
 onnxruntime >=1.12.0, <1.21.0
+onnxscript >= 0.2.2, <0.4.0
 psutil <7.0.1 # for `DeviceStatsMonitor`
 pandas >2.0, <2.4.0  # needed in benchmarks
 fastapi  # for `ServableModuleValidator`  # not setting version as re-defined in App
diff --git a/src/lightning/fabric/utilities/imports.py b/src/lightning/fabric/utilities/imports.py
index a618371d7f2b4..1962e336b3eb9 100644
--- a/src/lightning/fabric/utilities/imports.py
+++ b/src/lightning/fabric/utilities/imports.py
@@ -34,6 +34,7 @@
 _TORCH_EQUAL_2_4_0 = compare_version("torch", operator.eq, "2.4.0")
 _TORCH_GREATER_EQUAL_2_4 = compare_version("torch", operator.ge, "2.4.0")
 _TORCH_GREATER_EQUAL_2_4_1 = compare_version("torch", operator.ge, "2.4.1")
+_TORCH_GREATER_EQUAL_2_5 = compare_version("torch", operator.ge, "2.5.0")
 _TORCH_LESS_EQUAL_2_6 = compare_version("torch", operator.le, "2.6.0")
 
 _PYTHON_GREATER_EQUAL_3_10_0 = (sys.version_info.major, sys.version_info.minor) >= (3, 10)
diff --git a/src/lightning/fabric/utilities/testing/_runif.py b/src/lightning/fabric/utilities/testing/_runif.py
index 6f5d933f9dae3..a2c605f411f0a 100644
--- a/src/lightning/fabric/utilities/testing/_runif.py
+++ b/src/lightning/fabric/utilities/testing/_runif.py
@@ -17,7 +17,7 @@
 from typing import Optional
 
 import torch
-from lightning_utilities.core.imports import RequirementCache, compare_version
+from lightning_utilities.core.imports import compare_version
 from packaging.version import Version
 
 from lightning.fabric.accelerators import XLAAccelerator
@@ -112,9 +112,7 @@ def _runif_reasons(
             reasons.append("Standalone execution")
         kwargs["standalone"] = True
 
-    if deepspeed and not (
-        _DEEPSPEED_AVAILABLE and not _TORCH_GREATER_EQUAL_2_4 and RequirementCache(module="deepspeed.utils")
-    ):
+    if deepspeed and not (_DEEPSPEED_AVAILABLE and not _TORCH_GREATER_EQUAL_2_4):
         reasons.append("Deepspeed")
 
     if dynamo:
diff --git a/src/lightning/pytorch/CHANGELOG.md b/src/lightning/pytorch/CHANGELOG.md
index b18b2d51ccf2c..14301c47281fa 100644
--- a/src/lightning/pytorch/CHANGELOG.md
+++ b/src/lightning/pytorch/CHANGELOG.md
@@ -16,7 +16,7 @@ The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 
 ### Changed
 
--
+- Allow returning `ONNXProgram` when calling `to_onnx(dynamo=True)` ([#20811](https://github.com/Lightning-AI/pytorch-lightning/pull/20811))
 
 
 ### Removed
diff --git a/src/lightning/pytorch/core/module.py b/src/lightning/pytorch/core/module.py
index 905cc9a67c85a..6b8d9a368b001 100644
--- a/src/lightning/pytorch/core/module.py
+++ b/src/lightning/pytorch/core/module.py
@@ -47,6 +47,7 @@
 from lightning.fabric.utilities.apply_func import convert_to_tensors
 from lightning.fabric.utilities.cloud_io import get_filesystem
 from lightning.fabric.utilities.device_dtype_mixin import _DeviceDtypeModuleMixin
+from lightning.fabric.utilities.imports import _TORCH_GREATER_EQUAL_2_5
 from lightning.fabric.utilities.types import _MAP_LOCATION_TYPE, _PATH
 from lightning.fabric.wrappers import _FabricOptimizer
 from lightning.pytorch.callbacks.callback import Callback
@@ -60,7 +61,7 @@
 from lightning.pytorch.trainer.connectors.logger_connector.result import _get_default_dtype
 from lightning.pytorch.utilities import GradClipAlgorithmType
 from lightning.pytorch.utilities.exceptions import MisconfigurationException
-from lightning.pytorch.utilities.imports import _TORCHMETRICS_GREATER_EQUAL_0_9_1
+from lightning.pytorch.utilities.imports import _TORCH_GREATER_EQUAL_2_6, _TORCHMETRICS_GREATER_EQUAL_0_9_1
 from lightning.pytorch.utilities.model_helpers import _restricted_classmethod
 from lightning.pytorch.utilities.rank_zero import WarningCache, rank_zero_warn
 from lightning.pytorch.utilities.signature_utils import is_param_in_hook_signature
@@ -72,10 +73,17 @@
     OptimizerLRScheduler,
 )
 
+_ONNX_AVAILABLE = RequirementCache("onnx")
+_ONNXSCRIPT_AVAILABLE = RequirementCache("onnxscript")
+
 if TYPE_CHECKING:
     from torch.distributed.device_mesh import DeviceMesh
 
-_ONNX_AVAILABLE = RequirementCache("onnx")
+    if _TORCH_GREATER_EQUAL_2_5:
+        if _TORCH_GREATER_EQUAL_2_6:
+            from torch.onnx import ONNXProgram
+        else:
+            from torch.onnx._internal.exporter import ONNXProgram  # type: ignore[no-redef]
 
 warning_cache = WarningCache()
 log = logging.getLogger(__name__)
@@ -1386,12 +1394,18 @@ def _verify_is_manual_optimization(self, fn_name: str) -> None:
             )
 
     @torch.no_grad()
-    def to_onnx(self, file_path: Union[str, Path, BytesIO], input_sample: Optional[Any] = None, **kwargs: Any) -> None:
+    def to_onnx(
+        self,
+        file_path: Union[str, Path, BytesIO, None] = None,
+        input_sample: Optional[Any] = None,
+        **kwargs: Any,
+    ) -> Optional["ONNXProgram"]:
         """Saves the model in ONNX format.
 
         Args:
-            file_path: The path of the file the onnx model should be saved to.
+            file_path: The path of the file the onnx model should be saved to. Default: None (no file saved).
             input_sample: An input for tracing. Default: None (Use self.example_input_array)
+
             **kwargs: Will be passed to torch.onnx.export function.
 
         Example::
@@ -1412,6 +1426,12 @@ def forward(self, x):
         if not _ONNX_AVAILABLE:
             raise ModuleNotFoundError(f"`{type(self).__name__}.to_onnx()` requires `onnx` to be installed.")
 
+        if kwargs.get("dynamo", False) and not (_ONNXSCRIPT_AVAILABLE and _TORCH_GREATER_EQUAL_2_5):
+            raise ModuleNotFoundError(
+                f"`{type(self).__name__}.to_onnx(dynamo=True)` "
+                "requires `onnxscript` and `torch>=2.5.0` to be installed."
+            )
+
         mode = self.training
 
         if input_sample is None:
@@ -1428,8 +1448,9 @@ def forward(self, x):
         file_path = str(file_path) if isinstance(file_path, Path) else file_path
         # PyTorch (2.5) declares file_path to be str | PathLike[Any] | None, but
         #               BytesIO does work, too.
-        torch.onnx.export(self, input_sample, file_path, **kwargs)  # type: ignore
+        ret = torch.onnx.export(self, input_sample, file_path, **kwargs)  # type: ignore
         self.train(mode)
+        return ret
 
     @torch.no_grad()
     def to_torchscript(
diff --git a/src/lightning/pytorch/utilities/imports.py b/src/lightning/pytorch/utilities/imports.py
index 6c0815a6af9dc..2d3855994a078 100644
--- a/src/lightning/pytorch/utilities/imports.py
+++ b/src/lightning/pytorch/utilities/imports.py
@@ -14,13 +14,15 @@
 """General utilities."""
 
 import functools
+import operator
 import sys
 
-from lightning_utilities.core.imports import RequirementCache, package_available
+from lightning_utilities.core.imports import RequirementCache, compare_version, package_available
 
 from lightning.pytorch.utilities.rank_zero import rank_zero_warn
 
 _PYTHON_GREATER_EQUAL_3_11_0 = (sys.version_info.major, sys.version_info.minor) >= (3, 11)
+_TORCH_GREATER_EQUAL_2_6 = compare_version("torch", operator.ge, "2.6.0")
 _TORCHMETRICS_GREATER_EQUAL_0_8_0 = RequirementCache("torchmetrics>=0.8.0")
 _TORCHMETRICS_GREATER_EQUAL_0_9_1 = RequirementCache("torchmetrics>=0.9.1")
 _TORCHMETRICS_GREATER_EQUAL_0_11 = RequirementCache("torchmetrics>=0.11.0")  # using new API with task
diff --git a/src/lightning/pytorch/utilities/testing/_runif.py b/src/lightning/pytorch/utilities/testing/_runif.py
index 9c46913681143..5bb8f984b2749 100644
--- a/src/lightning/pytorch/utilities/testing/_runif.py
+++ b/src/lightning/pytorch/utilities/testing/_runif.py
@@ -18,7 +18,7 @@
 from lightning.fabric.utilities.testing import _runif_reasons as fabric_run_if
 from lightning.pytorch.accelerators.cpu import _PSUTIL_AVAILABLE
 from lightning.pytorch.callbacks.progress.rich_progress import _RICH_AVAILABLE
-from lightning.pytorch.core.module import _ONNX_AVAILABLE
+from lightning.pytorch.core.module import _ONNX_AVAILABLE, _ONNXSCRIPT_AVAILABLE
 from lightning.pytorch.utilities.imports import _OMEGACONF_AVAILABLE
 
 _SKLEARN_AVAILABLE = RequirementCache("scikit-learn")
@@ -42,6 +42,7 @@ def _runif_reasons(
     psutil: bool = False,
     sklearn: bool = False,
     onnx: bool = False,
+    onnxscript: bool = False,
 ) -> tuple[list[str], dict[str, bool]]:
     """Construct reasons for pytest skipif.
 
@@ -64,6 +65,7 @@ def _runif_reasons(
         psutil: Require that psutil is installed.
         sklearn: Require that scikit-learn is installed.
         onnx: Require that onnx is installed.
+        onnxscript: Require that onnxscript is installed.
 
     """
 
@@ -96,4 +98,7 @@ def _runif_reasons(
     if onnx and not _ONNX_AVAILABLE:
         reasons.append("onnx")
 
+    if onnxscript and not _ONNXSCRIPT_AVAILABLE:
+        reasons.append("onnxscript")
+
     return reasons, kwargs
diff --git a/tests/tests_pytorch/models/test_onnx.py b/tests/tests_pytorch/models/test_onnx.py
index 81fd5631a3400..9f51332fbbdfa 100644
--- a/tests/tests_pytorch/models/test_onnx.py
+++ b/tests/tests_pytorch/models/test_onnx.py
@@ -13,6 +13,7 @@
 # limitations under the License.
 import operator
 import os
+import re
 from io import BytesIO
 from pathlib import Path
 from unittest.mock import patch
@@ -25,7 +26,9 @@
 
 import tests_pytorch.helpers.pipelines as tpipes
 from lightning.pytorch import Trainer
+from lightning.pytorch.core.module import _ONNXSCRIPT_AVAILABLE
 from lightning.pytorch.demos.boring_classes import BoringModel
+from lightning.pytorch.utilities.imports import _TORCH_GREATER_EQUAL_2_6
 from tests_pytorch.helpers.runif import RunIf
 from tests_pytorch.utilities.test_model_summary import UnorderedModel
 
@@ -139,8 +142,16 @@ def test_error_if_no_input(tmp_path):
         model.to_onnx(file_path)
 
 
+@pytest.mark.parametrize(
+    "dynamo",
+    [
+        None,
+        pytest.param(False, marks=RunIf(min_torch="2.5.0", dynamo=True, onnxscript=True)),
+        pytest.param(True, marks=RunIf(min_torch="2.5.0", dynamo=True, onnxscript=True)),
+    ],
+)
 @RunIf(onnx=True)
-def test_if_inference_output_is_valid(tmp_path):
+def test_if_inference_output_is_valid(tmp_path, dynamo):
     """Test that the output inferred from ONNX model is same as from PyTorch."""
     model = BoringModel()
     model.example_input_array = torch.randn(5, 32)
@@ -153,7 +164,12 @@ def test_if_inference_output_is_valid(tmp_path):
         torch_out = model(model.example_input_array)
 
     file_path = os.path.join(tmp_path, "model.onnx")
-    model.to_onnx(file_path, model.example_input_array, export_params=True)
+    kwargs = {
+        "export_params": True,
+    }
+    if dynamo is not None:
+        kwargs["dynamo"] = dynamo
+    model.to_onnx(file_path, model.example_input_array, **kwargs)
 
     ort_kwargs = {"providers": "CPUExecutionProvider"} if compare_version("onnxruntime", operator.ge, "1.16.0") else {}
     ort_session = onnxruntime.InferenceSession(file_path, **ort_kwargs)
@@ -167,3 +183,53 @@ def to_numpy(tensor):
 
     # compare ONNX Runtime and PyTorch results
     assert np.allclose(to_numpy(torch_out), ort_outs[0], rtol=1e-03, atol=1e-05)
+
+
+@RunIf(min_torch="2.5.0", dynamo=True)
+@pytest.mark.skipif(_ONNXSCRIPT_AVAILABLE, reason="Run this test only if onnxscript is not available.")
+def test_model_onnx_export_missing_onnxscript():
+    """Test that an error is raised if onnxscript is not available."""
+    model = BoringModel()
+    model.example_input_array = torch.randn(5, 32)
+
+    with pytest.raises(
+        ModuleNotFoundError,
+        match=re.escape(
+            f"`{type(model).__name__}.to_onnx(dynamo=True)` requires `onnxscript` and `torch>=2.5.0` to be installed.",
+        ),
+    ):
+        model.to_onnx(dynamo=True)
+
+
+@RunIf(onnx=True, min_torch="2.5.0", dynamo=True, onnxscript=True)
+def test_model_return_type():
+    if _TORCH_GREATER_EQUAL_2_6:
+        from torch.onnx import ONNXProgram
+    else:
+        from torch.onnx._internal.exporter import ONNXProgram
+
+    model = BoringModel()
+    model.example_input_array = torch.randn((1, 32))
+    model.eval()
+
+    onnx_pg = model.to_onnx(dynamo=True)
+    assert isinstance(onnx_pg, ONNXProgram)
+
+    model_ret = model(model.example_input_array)
+    inf_ret = onnx_pg(model.example_input_array)
+    assert torch.allclose(model_ret, inf_ret[0], rtol=1e-03, atol=1e-05)
+
+
+@RunIf(max_torch="2.5.0")
+def test_model_onnx_export_wrong_torch_version():
+    """Test that an error is raised if onnxscript is not available."""
+    model = BoringModel()
+    model.example_input_array = torch.randn(5, 32)
+
+    with pytest.raises(
+        ModuleNotFoundError,
+        match=re.escape(
+            f"`{type(model).__name__}.to_onnx(dynamo=True)` requires `onnxscript` and `torch>=2.5.0` to be installed.",
+        ),
+    ):
+        model.to_onnx(dynamo=True)