diff --git a/.github/workflows/update-dependencies.yml b/.github/workflows/update-dependencies.yml
new file mode 100644
index 000000000..2b9c8bda7
--- /dev/null
+++ b/.github/workflows/update-dependencies.yml
@@ -0,0 +1,87 @@
+name: Update dependencies
+
+on:
+  # Allow manual executions
+  workflow_dispatch:
+  # Run nightly
+  schedule:
+    - cron: '0 0 * * *'
+
+jobs:
+  propose_github_release_updates:
+    runs-on: ubuntu-22.04
+    strategy:
+      matrix:
+        include:
+          - key: kolla
+            path: src/kayobe-config/etc/kayobe/stackhpc.yml
+            repository: stackhpc/kolla
+            search_regex: 'stackhpc_kolla_source_version\:.*$'
+            prefix: 'stackhpc_kolla_source_version\: '
+
+          - key: kolla-ansible
+            path: src/kayobe-config/etc/kayobe/stackhpc.yml
+            repository: stackhpc/kolla-ansible
+            search_regex: 'stackhpc_kolla_ansible_source_version\:.*$'
+            prefix: 'stackhpc_kolla_ansible_source_version\: '
+
+          - key: kayobe
+            path: src/kayobe-config/requirements.txt
+            repository: stackhpc/kayobe
+            search_regex: 'kayobe@stackhpc\/.*$'
+            prefix: 'kayobe@'
+    permissions:
+      contents: write
+      pull-requests: write
+    name: ${{ matrix.key }}
+    steps:
+      - name: Checkout
+        uses: actions/checkout@v4
+        with:
+          path: ${{ github.workspace }}/src/kayobe-config
+
+      - name: Determine OpenStack release
+        id: openstack_release
+        run: |
+          BRANCH=$(awk -F'=' '/defaultbranch/ {print $2}' .gitreview)
+          echo "openstack_release=${BRANCH}" | sed -E "s,(stable|unmaintained)/,," >> $GITHUB_OUTPUT
+        working-directory: ${{ github.workspace }}/src/kayobe-config
+
+      - name: Checkout the dependency repo
+        uses: actions/checkout@v4
+        with:
+          repository: ${{ matrix.repository }}
+          ref: stackhpc/${{ steps.openstack_release.outputs.openstack_release }}
+          fetch-tags: true
+          path: ${{ github.workspace }}/src/${{ matrix.key }}
+
+      - name: Get latest tag
+        id: latest_tag
+        run: |
+          TAG=$(git describe --tags --abbrev=0 --match stackhpc/\*)
+          echo latest_tag=${TAG} >> $GITHUB_OUTPUT
+        working-directory: ${{ github.workspace }}/src/${{ matrix.key }}
+
+      - name: Update dependency key
+        run: |
+          TAG_OVERRIDE=$(echo $TAG | sed 's/\//\\\//g')
+          sed -i "s/$SEARCH/$PREFIX$TAG_OVERRIDE/g" $REQUIREMENTS
+        env:
+          PREFIX: ${{ matrix.prefix }}
+          TAG: ${{ steps.latest_tag.outputs.latest_tag }}
+          REQUIREMENTS: ${{ github.workspace }}/${{ matrix.path }}
+          SEARCH: ${{ matrix.search_regex }}
+
+      - name: Propose changes via PR if required
+        uses: peter-evans/create-pull-request@v7
+        with:
+          path: ${{ github.workspace }}/src/kayobe-config
+          commit-message: >-
+            Bump ${{ matrix.key }} to ${{ steps.latest_tag.outputs.latest_tag }}
+          branch: update-dependency/${{ matrix.key }}
+          delete-branch: true
+          title: >-
+            Bump ${{ matrix.key }} to ${{ steps.latest_tag.outputs.latest_tag }}
+          body: >
+            This PR was created automatically to update
+            ${{ matrix.key }} to ${{ steps.latest_tag.outputs.latest_tag }}.
diff --git a/etc/kayobe/stackhpc.yml b/etc/kayobe/stackhpc.yml
index 4fc4349ab..bcfcdcacd 100644
--- a/etc/kayobe/stackhpc.yml
+++ b/etc/kayobe/stackhpc.yml
@@ -153,11 +153,11 @@ stackhpc_repo_elrepo_9_version: "{{ stackhpc_repo_distribution }}"
 
 # Kolla source repository.
 stackhpc_kolla_source_url: "https://github.com/stackhpc/kolla"
-stackhpc_kolla_source_version: "stackhpc/{{ openstack_release }}"
+stackhpc_kolla_source_version: stackhpc/18.5.0.1
 
 # Kolla Ansible source repository.
 stackhpc_kolla_ansible_source_url: "https://github.com/stackhpc/kolla-ansible"
-stackhpc_kolla_ansible_source_version: "stackhpc/{{ openstack_release }}"
+stackhpc_kolla_ansible_source_version: stackhpc/18.5.0.1
 
 ###############################################################################
 # Container image registry
diff --git a/releasenotes/notes/kolla-dependency-workflow-6ff5520ee0ab8e15.yaml b/releasenotes/notes/kolla-dependency-workflow-6ff5520ee0ab8e15.yaml
new file mode 100644
index 000000000..acbe45077
--- /dev/null
+++ b/releasenotes/notes/kolla-dependency-workflow-6ff5520ee0ab8e15.yaml
@@ -0,0 +1,5 @@
+---
+features:
+  - |
+    Workflow to update Kolla dependencies (Kayobe, Kolla and Kolla-Ansible)
+    to the latest tag available in the StackHPC branch via CI.
diff --git a/requirements.txt b/requirements.txt
index aaf998164..cac612a76 100644
--- a/requirements.txt
+++ b/requirements.txt
@@ -1,3 +1,3 @@
-kayobe@git+https://github.com/stackhpc/kayobe@stackhpc/2024.1
+kayobe@git+https://github.com/stackhpc/kayobe@stackhpc/16.5.0.1
 ansible-modules-hashivault>=5.2.1
 jmespath