diff --git a/deepspeed/comm/config.py b/deepspeed/comm/config.py
index 138badebe5a9..1c441bb6bfe9 100644
--- a/deepspeed/comm/config.py
+++ b/deepspeed/comm/config.py
@@ -3,8 +3,8 @@
 
 # DeepSpeed Team
 
-from pydantic import BaseModel
 from .constants import *
+from ..pydantic_v1 import BaseModel
 
 
 class CommsConfig(BaseModel):
diff --git a/deepspeed/inference/config.py b/deepspeed/inference/config.py
index 70f1c0dbd5b7..1d5018aaa75b 100644
--- a/deepspeed/inference/config.py
+++ b/deepspeed/inference/config.py
@@ -5,10 +5,9 @@
 
 import torch
 import deepspeed
+from deepspeed.pydantic_v1 import Field, validator
 from deepspeed.runtime.config_utils import DeepSpeedConfigModel
 from deepspeed.runtime.zero.config import DeepSpeedZeroConfig
-from pydantic import Field
-from pydantic import validator
 from typing import Dict, Union
 from enum import Enum
 
diff --git a/deepspeed/monitor/config.py b/deepspeed/monitor/config.py
index 2706764290fd..5a8ca6ecf5cd 100644
--- a/deepspeed/monitor/config.py
+++ b/deepspeed/monitor/config.py
@@ -3,7 +3,7 @@
 
 # DeepSpeed Team
 
-from pydantic import root_validator
+from deepspeed.pydantic_v1 import root_validator
 from deepspeed.runtime.config_utils import DeepSpeedConfigModel
 
 
diff --git a/deepspeed/pydantic_v1.py b/deepspeed/pydantic_v1.py
new file mode 100644
index 000000000000..6aba072ad929
--- /dev/null
+++ b/deepspeed/pydantic_v1.py
@@ -0,0 +1,16 @@
+# Copyright (c) Microsoft Corporation.
+# SPDX-License-Identifier: Apache-2.0
+
+# DeepSpeed Team
+"""Pydantic v1 compatibility module.
+
+Pydantic v2 introduced breaking changes that hinder its adoption:
+https://docs.pydantic.dev/latest/migration/. To provide deepspeed users the option to
+migrate to pydantic v2 on their own timeline, deepspeed uses this compatibility module
+as a pydantic-version-agnostic alias for pydantic's v1 API.
+"""
+
+try:
+    from pydantic.v1 import *  # noqa: F401
+except ImportError:
+    from pydantic import *  # noqa: F401
diff --git a/deepspeed/runtime/config_utils.py b/deepspeed/runtime/config_utils.py
index 0fb1372deac8..5522a8e79d69 100755
--- a/deepspeed/runtime/config_utils.py
+++ b/deepspeed/runtime/config_utils.py
@@ -9,7 +9,7 @@
 import collections
 import collections.abc
 from functools import reduce
-from pydantic import BaseModel
+from deepspeed.pydantic_v1 import BaseModel
 from deepspeed.utils import logger
 
 
diff --git a/deepspeed/runtime/zero/config.py b/deepspeed/runtime/zero/config.py
index 1fc11f0e46f5..35d60b5b3290 100644
--- a/deepspeed/runtime/zero/config.py
+++ b/deepspeed/runtime/zero/config.py
@@ -3,10 +3,10 @@
 
 # DeepSpeed Team
 
-from pydantic import Field, validator
 import sys
 from typing import Optional
 from enum import Enum
+from deepspeed.pydantic_v1 import Field, validator
 from deepspeed.runtime.config_utils import get_scalar_param, pp_int, DeepSpeedConfigModel
 from deepspeed.utils import logger
 from .offload_config import DeepSpeedZeroOffloadParamConfig, DeepSpeedZeroOffloadOptimizerConfig, OffloadDeviceEnum
diff --git a/deepspeed/runtime/zero/offload_config.py b/deepspeed/runtime/zero/offload_config.py
index c3a6dc7af530..1bd79412d39f 100644
--- a/deepspeed/runtime/zero/offload_config.py
+++ b/deepspeed/runtime/zero/offload_config.py
@@ -3,9 +3,9 @@
 
 # DeepSpeed Team
 
-from pydantic import Field, validator
 from enum import Enum
 from pathlib import Path
+from deepspeed.pydantic_v1 import Field, validator
 from deepspeed.runtime.config_utils import DeepSpeedConfigModel, pp_int
 
 
diff --git a/environment.yml b/environment.yml
index e55fe96e5a5a..28c298717d80 100644
--- a/environment.yml
+++ b/environment.yml
@@ -18,4 +18,4 @@ dependencies:
   - certifi
   - openssl
   - python=3.10
-  - pydantic<2.0.0
+  - pydantic
diff --git a/requirements/requirements-readthedocs.txt b/requirements/requirements-readthedocs.txt
index a6d7915e0ea5..fcd0ec5a9a6a 100644
--- a/requirements/requirements-readthedocs.txt
+++ b/requirements/requirements-readthedocs.txt
@@ -1,9 +1,9 @@
-autodoc_pydantic<2.0.0
+autodoc_pydantic
 docutils<0.18
 hjson
 packaging
 psutil
 py-cpuinfo
-pydantic<2.0.0
+pydantic
 torch
 tqdm
diff --git a/tests/unit/runtime/test_ds_config_model.py b/tests/unit/runtime/test_ds_config_model.py
index b9c67c9a30dd..87ea747cf423 100644
--- a/tests/unit/runtime/test_ds_config_model.py
+++ b/tests/unit/runtime/test_ds_config_model.py
@@ -6,8 +6,8 @@
 import pytest
 import os
 import json
-from pydantic import Field, ValidationError
 from typing import List
+from deepspeed.pydantic_v1 import Field, ValidationError
 from deepspeed.runtime import config as ds_config
 from deepspeed.runtime.config_utils import DeepSpeedConfigModel