diff --git a/platform.json b/platform.json
index b992f66..f38a7e6 100644
--- a/platform.json
+++ b/platform.json
@@ -92,7 +92,7 @@
       "optional": true,
       "owner": "platformio",
       "version": "~3.50101.0",
-      "optionalVersions": ["~3.40405.0"]
+      "optionalVersions": ["~3.40406.0"]
     },
     "tool-esptoolpy": {
       "type": "uploader",
diff --git a/platform.py b/platform.py
index 834384a..17cf2ec 100644
--- a/platform.py
+++ b/platform.py
@@ -113,7 +113,7 @@ class Espressif32Platform(PlatformBase):
 
             if "arduino" in frameworks:
                 # Downgrade the IDF version for mixed Arduino+IDF projects
-                self.packages["framework-espidf"]["version"] = "~3.40405.0"
+                self.packages["framework-espidf"]["version"] = "~3.40406.0"
             else:
                 # Use the latest toolchains available for IDF v5.0
                 for target in (