diff --git a/src/bindings/python/constraints.txt b/src/bindings/python/constraints.txt
index 65ce94d71b385e..4e603a41c886cc 100644
--- a/src/bindings/python/constraints.txt
+++ b/src/bindings/python/constraints.txt
@@ -8,6 +8,7 @@ pytest-html==4.1.1
 pytest-timeout==2.3.1
 
 # Python bindings
+build<1.3
 py>=1.9.0
 pygments>=2.8.1
 setuptools>=65.6.1,<75.3.0
diff --git a/src/bindings/python/wheel/CMakeLists.txt b/src/bindings/python/wheel/CMakeLists.txt
index 7d8ebd5256a968..72828a155dd865 100644
--- a/src/bindings/python/wheel/CMakeLists.txt
+++ b/src/bindings/python/wheel/CMakeLists.txt
@@ -100,31 +100,14 @@ set(openvino_wheel_path "${openvino_wheels_output_dir}/${openvino_wheel_name}")
 # create target for openvino.wheel
 #
 
-execute_process(COMMAND ${Python3_EXECUTABLE} -m pip --version
-                OUTPUT_VARIABLE pip_version OUTPUT_STRIP_TRAILING_WHITESPACE)
-
-string(REGEX MATCH "pip[ ]+([\\.0-9]*)" pip_version "${pip_version}")
-set(pip_version ${CMAKE_MATCH_1})
-
-if(pip_version VERSION_GREATER_EQUAL 22.0)
-    set(wheel_build_command
-        ${Python3_EXECUTABLE} -m pip wheel
-            --no-deps
-            --wheel-dir ${openvino_wheels_output_dir}
-            --verbose
-            --build-option --build-number=${WHEEL_BUILD}
-            --build-option --plat-name=${PLATFORM_TAG}
-            "${CMAKE_CURRENT_SOURCE_DIR}")
-else()
-    set(wheel_build_command
-        ${Python3_EXECUTABLE} "${CMAKE_CURRENT_SOURCE_DIR}/setup.py"
-            --quiet
-            --no-user-cfg
-            bdist_wheel
-            --dist-dir ${openvino_wheels_output_dir}
-            --build-number=${WHEEL_BUILD}
-            --plat-name=${PLATFORM_TAG})
-endif()
+# for --config-setting explanation see https://github.com/pypa/setuptools/issues/2491
+set(wheel_build_command
+    ${Python3_EXECUTABLE} -m build "${CMAKE_CURRENT_SOURCE_DIR}"
+        --outdir ${openvino_wheels_output_dir}
+        --config-setting=--build-option=--build-number=${WHEEL_BUILD}
+        --config-setting=--build-option=--plat-name=${PLATFORM_TAG}
+        --config-setting=--quiet
+        --wheel)
 
 add_custom_command(OUTPUT ${openvino_wheel_path}
     COMMAND ${setup_py_env} ${wheel_build_command}
diff --git a/src/bindings/python/wheel/requirements-dev.txt b/src/bindings/python/wheel/requirements-dev.txt
index c88d91751ebbc9..a6c2dcbdf8fee1 100644
--- a/src/bindings/python/wheel/requirements-dev.txt
+++ b/src/bindings/python/wheel/requirements-dev.txt
@@ -1,4 +1,5 @@
 -c ../constraints.txt
 setuptools
 wheel
+build
 patchelf; sys_platform == 'linux' and platform_machine == 'x86_64'