diff --git a/esphome/components/esp32/__init__.py b/esphome/components/esp32/__init__.py
index 0f16fc9293..0566d12f97 100644
--- a/esphome/components/esp32/__init__.py
+++ b/esphome/components/esp32/__init__.py
@@ -168,11 +168,11 @@ ARDUINO_PLATFORM_VERSION = cv.Version(5, 2, 0)
 # The default/recommended esp-idf framework version
 #  - https://github.com/espressif/esp-idf/releases
 #  - https://api.registry.platformio.org/v3/packages/platformio/tool/framework-espidf
-RECOMMENDED_ESP_IDF_FRAMEWORK_VERSION = cv.Version(4, 4, 2)
+RECOMMENDED_ESP_IDF_FRAMEWORK_VERSION = cv.Version(4, 4, 3)
 # The platformio/espressif32 version to use for esp-idf frameworks
 #  - https://github.com/platformio/platform-espressif32/releases
 #  - https://api.registry.platformio.org/v3/packages/platformio/platform/espressif32
-ESP_IDF_PLATFORM_VERSION = cv.Version(5, 2, 0)
+ESP_IDF_PLATFORM_VERSION = cv.Version(5, 3, 0)
 
 
 def _arduino_check_versions(value):
diff --git a/platformio.ini b/platformio.ini
index ef5820c4ad..f2588e918a 100644
--- a/platformio.ini
+++ b/platformio.ini
@@ -133,9 +133,9 @@ extra_scripts = post:esphome/components/esp32/post_build.py.script
 ; This are common settings for the ESP32 (all variants) using IDF.
 [common:esp32-idf]
 extends = common:idf
-platform = platformio/espressif32 @ 5.2.0
+platform = platformio/espressif32 @ 5.3.0
 platform_packages =
-    platformio/framework-espidf @ ~3.40402.0
+    platformio/framework-espidf @ ~3.40403.0
 
 framework = espidf
 lib_deps =