diff --git a/cmake/ExternalDependencies.cmake b/cmake/ExternalDependencies.cmake
index 15297a7c1..6c70a9ea6 100644
--- a/cmake/ExternalDependencies.cmake
+++ b/cmake/ExternalDependencies.cmake
@@ -51,9 +51,9 @@ endif()
 # cmake-format: off
 set(MQT_CORE_MINIMUM_VERSION 3.3.3
     CACHE STRING "MQT Core minimum version")
-set(MQT_CORE_VERSION 3.3.3
+set(MQT_CORE_VERSION 3.4.0
     CACHE STRING "MQT Core version")
-set(MQT_CORE_REV "8c9f6ab24968401e450812fc0ff7d05b5ae07a63"
+set(MQT_CORE_REV "6bcc01e7d135058c6439c64fdd5f14b65ab88816"
     CACHE STRING "MQT Core identifier (tag, branch or commit hash)")
 set(MQT_CORE_REPO_OWNER "munich-quantum-toolkit"
     CACHE STRING "MQT Core repository owner (change when using a fork)")