diff --git a/.github/workflows/quality_check_pydanticv2.yml b/.github/workflows/quality_check_pydanticv2.yml
new file mode 100644
index 00000000000..435ee5df868
--- /dev/null
+++ b/.github/workflows/quality_check_pydanticv2.yml
@@ -0,0 +1,76 @@
+name: Code quality - Pydanticv2
+
+# PROCESS
+#
+# 1. Install all dependencies and spin off containers for all supported Python versions
+# 2. Run code formatters and linters (various checks) for code standard
+# 3. Run static typing checker for potential bugs
+# 4. Run entire test suite for regressions except end-to-end (unit, functional, performance)
+# 5. Run static analysis (in addition to CodeQL) for common insecure code practices
+# 6. Run complexity baseline to avoid error-prone bugs and keep maintenance lower
+# 7. Collect and report on test coverage
+
+# USAGE
+#
+# Always triggered on new PRs, PR changes and PR merge.
+
+
+on:
+  pull_request:
+    paths:
+      - "aws_lambda_powertools/**"
+      - "tests/**"
+      - "pyproject.toml"
+      - "poetry.lock"
+      - "mypy.ini"
+    branches:
+      - develop
+  push:
+    paths:
+      - "aws_lambda_powertools/**"
+      - "tests/**"
+      - "pyproject.toml"
+      - "poetry.lock"
+      - "mypy.ini"
+    branches:
+      - develop
+
+permissions:
+  contents: read
+
+jobs:
+  quality_check:
+    runs-on: ubuntu-latest
+    strategy:
+      max-parallel: 4
+      matrix:
+        python-version: ["3.7", "3.8", "3.9", "3.10"]
+    env:
+      PYTHON: "${{ matrix.python-version }}"
+    permissions:
+      contents: read  # checkout code only
+    steps:
+      - uses: actions/checkout@c85c95e3d7251135ab7dc9ce3241c5835cc595a9  # v3.5.3
+      - name: Install poetry
+        run: pipx install poetry
+      - name: Set up Python ${{ matrix.python-version }}
+        uses: actions/setup-python@bd6b4b6205c4dbad673328db7b31b7fab9e241c0 # v4.6.1
+        with:
+          python-version: ${{ matrix.python-version }}
+          cache: "poetry"
+      - name: Removing dev dependencies locked to Pydantic v1
+        run: poetry remove cfn-lint
+      - name: Replacing Pydantic v1 with v2 > 2.0.3
+        run: poetry add "pydantic=^2.0.3"
+      - name: Install dependencies
+        run: make dev
+      - name: Formatting and Linting
+        run: make lint
+      - name: Static type checking
+        run: make mypy
+      - name: Test with pytest
+        run: make test
+      - name: Security baseline
+        run: make security-baseline
+      - name: Complexity baseline
+        run: make complexity-baseline
diff --git a/aws_lambda_powertools/utilities/batch/base.py b/aws_lambda_powertools/utilities/batch/base.py
index 4ab2c1a2b0b..b00b31449f2 100644
--- a/aws_lambda_powertools/utilities/batch/base.py
+++ b/aws_lambda_powertools/utilities/batch/base.py
@@ -348,6 +348,11 @@ def _to_batch_type(self, record: dict, event_type: EventType) -> EventSourceData
 
     def _to_batch_type(self, record: dict, event_type: EventType, model: Optional["BatchTypeModels"] = None):
         if model is not None:
+            # If a model is provided, we assume Pydantic is installed and we need to disable v2 warnings
+            from aws_lambda_powertools.utilities.parser.compat import disable_pydantic_v2_warning
+
+            disable_pydantic_v2_warning()
+
             return model.parse_obj(record)
         return self._DATA_CLASS_MAPPING[event_type](record)
 
@@ -500,8 +505,13 @@ def _process_record(self, record: dict) -> Union[SuccessResponse, FailureRespons
             # we need to handle that exception differently.
             # We check for a public attr in validation errors coming from Pydantic exceptions (subclass or not)
             # and we compare if it's coming from the same model that trigger the exception in the first place
-            model = getattr(exc, "model", None)
-            if model == self.model:
+
+            # Pydantic v1 raises a ValidationError with ErrorWrappers and store the model instance in a class variable.
+            # Pydantic v2 simplifies this by adding a title variable to store the model name directly.
+            model = getattr(exc, "model", None) or getattr(exc, "title", None)
+            model_name = getattr(self.model, "__name__", None)
+
+            if model == self.model or model == model_name:
                 return self._register_model_validation_error_record(record)
 
             return self.failure_handler(record=data, exception=sys.exc_info())
@@ -644,8 +654,13 @@ async def _async_process_record(self, record: dict) -> Union[SuccessResponse, Fa
             # we need to handle that exception differently.
             # We check for a public attr in validation errors coming from Pydantic exceptions (subclass or not)
             # and we compare if it's coming from the same model that trigger the exception in the first place
-            model = getattr(exc, "model", None)
-            if model == self.model:
+
+            # Pydantic v1 raises a ValidationError with ErrorWrappers and store the model instance in a class variable.
+            # Pydantic v2 simplifies this by adding a title variable to store the model name directly.
+            model = getattr(exc, "model", None) or getattr(exc, "title", None)
+            model_name = getattr(self.model, "__name__", None)
+
+            if model == self.model or model == model_name:
                 return self._register_model_validation_error_record(record)
 
             return self.failure_handler(record=data, exception=sys.exc_info())
diff --git a/aws_lambda_powertools/utilities/parser/compat.py b/aws_lambda_powertools/utilities/parser/compat.py
new file mode 100644
index 00000000000..c73098421b1
--- /dev/null
+++ b/aws_lambda_powertools/utilities/parser/compat.py
@@ -0,0 +1,34 @@
+import functools
+
+
+@functools.lru_cache(maxsize=None)
+def disable_pydantic_v2_warning():
+    """
+    Disables the Pydantic version 2 warning by filtering out the related warnings.
+
+    This function checks the version of Pydantic currently installed and if it is version 2,
+    it filters out the PydanticDeprecationWarning and PydanticDeprecatedSince20 warnings
+    to suppress them.
+
+    Since we only need to run the code once, we are using lru_cache to improve performance.
+
+    Note: This function assumes that Pydantic is installed.
+
+    Usage:
+        disable_pydantic_v2_warning()
+    """
+    try:
+        from pydantic import __version__
+
+        version = __version__.split(".")
+
+        if int(version[0]) == 2:
+            import warnings
+
+            from pydantic import PydanticDeprecatedSince20, PydanticDeprecationWarning
+
+            warnings.filterwarnings("ignore", category=PydanticDeprecationWarning)
+            warnings.filterwarnings("ignore", category=PydanticDeprecatedSince20)
+
+    except ImportError:
+        pass
diff --git a/aws_lambda_powertools/utilities/parser/envelopes/base.py b/aws_lambda_powertools/utilities/parser/envelopes/base.py
index 85486fdd876..101e157ef69 100644
--- a/aws_lambda_powertools/utilities/parser/envelopes/base.py
+++ b/aws_lambda_powertools/utilities/parser/envelopes/base.py
@@ -2,6 +2,7 @@
 from abc import ABC, abstractmethod
 from typing import Any, Dict, Optional, Type, TypeVar, Union
 
+from aws_lambda_powertools.utilities.parser.compat import disable_pydantic_v2_warning
 from aws_lambda_powertools.utilities.parser.types import Model
 
 logger = logging.getLogger(__name__)
@@ -26,6 +27,8 @@ def _parse(data: Optional[Union[Dict[str, Any], Any]], model: Type[Model]) -> Un
         Any
             Parsed data
         """
+        disable_pydantic_v2_warning()
+
         if data is None:
             logger.debug("Skipping parsing as event is None")
             return data
diff --git a/aws_lambda_powertools/utilities/parser/models/__init__.py b/aws_lambda_powertools/utilities/parser/models/__init__.py
index ddc76dc7819..f1b2d30d9cf 100644
--- a/aws_lambda_powertools/utilities/parser/models/__init__.py
+++ b/aws_lambda_powertools/utilities/parser/models/__init__.py
@@ -1,3 +1,7 @@
+from aws_lambda_powertools.utilities.parser.compat import disable_pydantic_v2_warning
+
+disable_pydantic_v2_warning()
+
 from .alb import AlbModel, AlbRequestContext, AlbRequestContextData
 from .apigw import (
     APIGatewayEventAuthorizer,
diff --git a/aws_lambda_powertools/utilities/parser/models/apigw.py b/aws_lambda_powertools/utilities/parser/models/apigw.py
index 82a3a6188d2..c17b094d0c0 100644
--- a/aws_lambda_powertools/utilities/parser/models/apigw.py
+++ b/aws_lambda_powertools/utilities/parser/models/apigw.py
@@ -21,74 +21,74 @@ class ApiGatewayUserCert(BaseModel):
 
 
 class APIGatewayEventIdentity(BaseModel):
-    accessKey: Optional[str]
-    accountId: Optional[str]
-    apiKey: Optional[str]
-    apiKeyId: Optional[str]
-    caller: Optional[str]
-    cognitoAuthenticationProvider: Optional[str]
-    cognitoAuthenticationType: Optional[str]
-    cognitoIdentityId: Optional[str]
-    cognitoIdentityPoolId: Optional[str]
-    principalOrgId: Optional[str]
+    accessKey: Optional[str] = None
+    accountId: Optional[str] = None
+    apiKey: Optional[str] = None
+    apiKeyId: Optional[str] = None
+    caller: Optional[str] = None
+    cognitoAuthenticationProvider: Optional[str] = None
+    cognitoAuthenticationType: Optional[str] = None
+    cognitoIdentityId: Optional[str] = None
+    cognitoIdentityPoolId: Optional[str] = None
+    principalOrgId: Optional[str] = None
     # see #1562, temp workaround until API Gateway fixes it the Test button payload
     # removing it will not be considered a regression in the future
     sourceIp: Union[IPvAnyNetwork, Literal["test-invoke-source-ip"]]
-    user: Optional[str]
-    userAgent: Optional[str]
-    userArn: Optional[str]
-    clientCert: Optional[ApiGatewayUserCert]
+    user: Optional[str] = None
+    userAgent: Optional[str] = None
+    userArn: Optional[str] = None
+    clientCert: Optional[ApiGatewayUserCert] = None
 
 
 class APIGatewayEventAuthorizer(BaseModel):
-    claims: Optional[Dict[str, Any]]
-    scopes: Optional[List[str]]
+    claims: Optional[Dict[str, Any]] = None
+    scopes: Optional[List[str]] = None
 
 
 class APIGatewayEventRequestContext(BaseModel):
     accountId: str
     apiId: str
-    authorizer: Optional[APIGatewayEventAuthorizer]
+    authorizer: Optional[APIGatewayEventAuthorizer] = None
     stage: str
     protocol: str
     identity: APIGatewayEventIdentity
     requestId: str
     requestTime: str
     requestTimeEpoch: datetime
-    resourceId: Optional[str]
+    resourceId: Optional[str] = None
     resourcePath: str
-    domainName: Optional[str]
-    domainPrefix: Optional[str]
-    extendedRequestId: Optional[str]
+    domainName: Optional[str] = None
+    domainPrefix: Optional[str] = None
+    extendedRequestId: Optional[str] = None
     httpMethod: Literal["DELETE", "GET", "HEAD", "OPTIONS", "PATCH", "POST", "PUT"]
     path: str
-    connectedAt: Optional[datetime]
-    connectionId: Optional[str]
-    eventType: Optional[Literal["CONNECT", "MESSAGE", "DISCONNECT"]]
-    messageDirection: Optional[str]
-    messageId: Optional[str]
-    routeKey: Optional[str]
-    operationName: Optional[str]
+    connectedAt: Optional[datetime] = None
+    connectionId: Optional[str] = None
+    eventType: Optional[Literal["CONNECT", "MESSAGE", "DISCONNECT"]] = None
+    messageDirection: Optional[str] = None
+    messageId: Optional[str] = None
+    routeKey: Optional[str] = None
+    operationName: Optional[str] = None
 
-    @root_validator(allow_reuse=True)
+    @root_validator(allow_reuse=True, skip_on_failure=True)
     def check_message_id(cls, values):
         message_id, event_type = values.get("messageId"), values.get("eventType")
         if message_id is not None and event_type != "MESSAGE":
-            raise TypeError("messageId is available only when the `eventType` is `MESSAGE`")
+            raise ValueError("messageId is available only when the `eventType` is `MESSAGE`")
         return values
 
 
 class APIGatewayProxyEventModel(BaseModel):
-    version: Optional[str]
+    version: Optional[str] = None
     resource: str
     path: str
     httpMethod: Literal["DELETE", "GET", "HEAD", "OPTIONS", "PATCH", "POST", "PUT"]
     headers: Dict[str, str]
     multiValueHeaders: Dict[str, List[str]]
-    queryStringParameters: Optional[Dict[str, str]]
-    multiValueQueryStringParameters: Optional[Dict[str, List[str]]]
+    queryStringParameters: Optional[Dict[str, str]] = None
+    multiValueQueryStringParameters: Optional[Dict[str, List[str]]] = None
     requestContext: APIGatewayEventRequestContext
-    pathParameters: Optional[Dict[str, str]]
-    stageVariables: Optional[Dict[str, str]]
+    pathParameters: Optional[Dict[str, str]] = None
+    stageVariables: Optional[Dict[str, str]] = None
     isBase64Encoded: bool
-    body: Optional[Union[str, Type[BaseModel]]]
+    body: Optional[Union[str, Type[BaseModel]]] = None
diff --git a/aws_lambda_powertools/utilities/parser/models/apigwv2.py b/aws_lambda_powertools/utilities/parser/models/apigwv2.py
index cb1f830bb47..3be793dd951 100644
--- a/aws_lambda_powertools/utilities/parser/models/apigwv2.py
+++ b/aws_lambda_powertools/utilities/parser/models/apigwv2.py
@@ -14,13 +14,13 @@ class RequestContextV2AuthorizerIamCognito(BaseModel):
 
 
 class RequestContextV2AuthorizerIam(BaseModel):
-    accessKey: Optional[str]
-    accountId: Optional[str]
-    callerId: Optional[str]
-    principalOrgId: Optional[str]
-    userArn: Optional[str]
-    userId: Optional[str]
-    cognitoIdentity: Optional[RequestContextV2AuthorizerIamCognito]
+    accessKey: Optional[str] = None
+    accountId: Optional[str] = None
+    callerId: Optional[str] = None
+    principalOrgId: Optional[str] = None
+    userArn: Optional[str] = None
+    userId: Optional[str] = None
+    cognitoIdentity: Optional[RequestContextV2AuthorizerIamCognito] = None
 
 
 class RequestContextV2AuthorizerJwt(BaseModel):
@@ -29,8 +29,8 @@ class RequestContextV2AuthorizerJwt(BaseModel):
 
 
 class RequestContextV2Authorizer(BaseModel):
-    jwt: Optional[RequestContextV2AuthorizerJwt]
-    iam: Optional[RequestContextV2AuthorizerIam]
+    jwt: Optional[RequestContextV2AuthorizerJwt] = None
+    iam: Optional[RequestContextV2AuthorizerIam] = None
     lambda_value: Optional[Dict[str, Any]] = Field(None, alias="lambda")
 
 
@@ -45,7 +45,7 @@ class RequestContextV2Http(BaseModel):
 class RequestContextV2(BaseModel):
     accountId: str
     apiId: str
-    authorizer: Optional[RequestContextV2Authorizer]
+    authorizer: Optional[RequestContextV2Authorizer] = None
     domainName: str
     domainPrefix: str
     requestId: str
@@ -61,11 +61,11 @@ class APIGatewayProxyEventV2Model(BaseModel):
     routeKey: str
     rawPath: str
     rawQueryString: str
-    cookies: Optional[List[str]]
+    cookies: Optional[List[str]] = None
     headers: Dict[str, str]
-    queryStringParameters: Optional[Dict[str, str]]
-    pathParameters: Optional[Dict[str, str]]
-    stageVariables: Optional[Dict[str, str]]
+    queryStringParameters: Optional[Dict[str, str]] = None
+    pathParameters: Optional[Dict[str, str]] = None
+    stageVariables: Optional[Dict[str, str]] = None
     requestContext: RequestContextV2
-    body: Optional[Union[str, Type[BaseModel]]]
+    body: Optional[Union[str, Type[BaseModel]]] = None
     isBase64Encoded: bool
diff --git a/aws_lambda_powertools/utilities/parser/models/dynamodb.py b/aws_lambda_powertools/utilities/parser/models/dynamodb.py
index 7a12bf195d3..679952a7181 100644
--- a/aws_lambda_powertools/utilities/parser/models/dynamodb.py
+++ b/aws_lambda_powertools/utilities/parser/models/dynamodb.py
@@ -7,10 +7,10 @@
 
 
 class DynamoDBStreamChangedRecordModel(BaseModel):
-    ApproximateCreationDateTime: Optional[date]
+    ApproximateCreationDateTime: Optional[date] = None
     Keys: Dict[str, Dict[str, Any]]
-    NewImage: Optional[Union[Dict[str, Any], Type[BaseModel], BaseModel]]
-    OldImage: Optional[Union[Dict[str, Any], Type[BaseModel], BaseModel]]
+    NewImage: Optional[Union[Dict[str, Any], Type[BaseModel], BaseModel]] = None
+    OldImage: Optional[Union[Dict[str, Any], Type[BaseModel], BaseModel]] = None
     SequenceNumber: str
     SizeBytes: int
     StreamViewType: Literal["NEW_AND_OLD_IMAGES", "KEYS_ONLY", "NEW_IMAGE", "OLD_IMAGE"]
@@ -40,7 +40,7 @@ class DynamoDBStreamRecordModel(BaseModel):
     awsRegion: str
     eventSourceARN: str
     dynamodb: DynamoDBStreamChangedRecordModel
-    userIdentity: Optional[UserIdentity]
+    userIdentity: Optional[UserIdentity] = None
 
 
 class DynamoDBStreamModel(BaseModel):
diff --git a/aws_lambda_powertools/utilities/parser/models/kafka.py b/aws_lambda_powertools/utilities/parser/models/kafka.py
index d4c36bf70f1..1d9d8114e65 100644
--- a/aws_lambda_powertools/utilities/parser/models/kafka.py
+++ b/aws_lambda_powertools/utilities/parser/models/kafka.py
@@ -19,8 +19,8 @@ class KafkaRecordModel(BaseModel):
     value: Union[str, Type[BaseModel]]
     headers: List[Dict[str, bytes]]
 
-    # validators
-    _decode_key = validator("key", allow_reuse=True)(base64_decode)
+    # Added type ignore to keep compatibility between Pydantic v1 and v2
+    _decode_key = validator("key", allow_reuse=True)(base64_decode)  # type: ignore[type-var, unused-ignore]
 
     @validator("value", pre=True, allow_reuse=True)
     def data_base64_decode(cls, value):
diff --git a/aws_lambda_powertools/utilities/parser/models/kinesis_firehose.py b/aws_lambda_powertools/utilities/parser/models/kinesis_firehose.py
index c59d8c680e5..7edc0ba4ebf 100644
--- a/aws_lambda_powertools/utilities/parser/models/kinesis_firehose.py
+++ b/aws_lambda_powertools/utilities/parser/models/kinesis_firehose.py
@@ -17,7 +17,7 @@ class KinesisFirehoseRecord(BaseModel):
     data: Union[bytes, Type[BaseModel]]  # base64 encoded str is parsed into bytes
     recordId: str
     approximateArrivalTimestamp: PositiveInt
-    kinesisRecordMetadata: Optional[KinesisFirehoseRecordMetadata]
+    kinesisRecordMetadata: Optional[KinesisFirehoseRecordMetadata] = None
 
     @validator("data", pre=True, allow_reuse=True)
     def data_base64_decode(cls, value):
@@ -28,5 +28,5 @@ class KinesisFirehoseModel(BaseModel):
     invocationId: str
     deliveryStreamArn: str
     region: str
-    sourceKinesisStreamArn: Optional[str]
+    sourceKinesisStreamArn: Optional[str] = None
     records: List[KinesisFirehoseRecord]
diff --git a/aws_lambda_powertools/utilities/parser/models/kinesis_firehose_sqs.py b/aws_lambda_powertools/utilities/parser/models/kinesis_firehose_sqs.py
index b649828853b..58a23e5006c 100644
--- a/aws_lambda_powertools/utilities/parser/models/kinesis_firehose_sqs.py
+++ b/aws_lambda_powertools/utilities/parser/models/kinesis_firehose_sqs.py
@@ -13,7 +13,7 @@ class KinesisFirehoseSqsRecord(BaseModel):
     data: SqsRecordModel
     recordId: str
     approximateArrivalTimestamp: PositiveInt
-    kinesisRecordMetadata: Optional[KinesisFirehoseRecordMetadata]
+    kinesisRecordMetadata: Optional[KinesisFirehoseRecordMetadata] = None
 
     @validator("data", pre=True, allow_reuse=True)
     def data_base64_decode(cls, value):
@@ -25,5 +25,5 @@ class KinesisFirehoseSqsModel(BaseModel):
     invocationId: str
     deliveryStreamArn: str
     region: str
-    sourceKinesisStreamArn: Optional[str]
+    sourceKinesisStreamArn: Optional[str] = None
     records: List[KinesisFirehoseSqsRecord]
diff --git a/aws_lambda_powertools/utilities/parser/models/s3.py b/aws_lambda_powertools/utilities/parser/models/s3.py
index 01573b6d751..db6c41d30f3 100644
--- a/aws_lambda_powertools/utilities/parser/models/s3.py
+++ b/aws_lambda_powertools/utilities/parser/models/s3.py
@@ -45,10 +45,10 @@ class S3Bucket(BaseModel):
 
 class S3Object(BaseModel):
     key: str
-    size: Optional[NonNegativeFloat]
-    eTag: Optional[str]
+    size: Optional[NonNegativeFloat] = None
+    eTag: Optional[str] = None
     sequencer: str
-    versionId: Optional[str]
+    versionId: Optional[str] = None
 
 
 class S3Message(BaseModel):
@@ -60,10 +60,10 @@ class S3Message(BaseModel):
 
 class S3EventNotificationObjectModel(BaseModel):
     key: str
-    size: Optional[NonNegativeFloat]
+    size: Optional[NonNegativeFloat] = None
     etag: str
     version_id: str = Field(None, alias="version-id")
-    sequencer: Optional[str]
+    sequencer: Optional[str] = None
 
 
 class S3EventNotificationEventBridgeBucketModel(BaseModel):
@@ -77,7 +77,7 @@ class S3EventNotificationEventBridgeDetailModel(BaseModel):
     request_id: str = Field(None, alias="request-id")
     requester: str
     source_ip_address: str = Field(None, alias="source-ip-address")
-    reason: Optional[str]
+    reason: Optional[str] = None
     deletion_type: Optional[str] = Field(None, alias="deletion-type")
     restore_expiry_time: Optional[str] = Field(None, alias="restore-expiry-time")
     source_storage_class: Optional[str] = Field(None, alias="source-storage-class")
@@ -99,9 +99,9 @@ class S3RecordModel(BaseModel):
     requestParameters: S3RequestParameters
     responseElements: S3ResponseElements
     s3: S3Message
-    glacierEventData: Optional[S3EventRecordGlacierEventData]
+    glacierEventData: Optional[S3EventRecordGlacierEventData] = None
 
-    @root_validator
+    @root_validator(allow_reuse=True, skip_on_failure=True)
     def validate_s3_object(cls, values):
         event_name = values.get("eventName")
         s3_object = values.get("s3").object
diff --git a/aws_lambda_powertools/utilities/parser/models/s3_object_event.py b/aws_lambda_powertools/utilities/parser/models/s3_object_event.py
index ef59e9c2f98..7ef98fe4bb2 100644
--- a/aws_lambda_powertools/utilities/parser/models/s3_object_event.py
+++ b/aws_lambda_powertools/utilities/parser/models/s3_object_event.py
@@ -22,7 +22,7 @@ class S3ObjectUserRequest(BaseModel):
 
 class S3ObjectSessionIssuer(BaseModel):
     type: str  # noqa: A003, VNE003
-    userName: Optional[str]
+    userName: Optional[str] = None
     principalId: str
     arn: str
     accountId: str
@@ -42,10 +42,10 @@ class S3ObjectUserIdentity(BaseModel):
     type: str  # noqa003
     accountId: str
     accessKeyId: str
-    userName: Optional[str]
+    userName: Optional[str] = None
     principalId: str
     arn: str
-    sessionContext: Optional[S3ObjectSessionContext]
+    sessionContext: Optional[S3ObjectSessionContext] = None
 
 
 class S3ObjectLambdaEvent(BaseModel):
diff --git a/aws_lambda_powertools/utilities/parser/models/ses.py b/aws_lambda_powertools/utilities/parser/models/ses.py
index 77b23431099..2e9e93f368e 100644
--- a/aws_lambda_powertools/utilities/parser/models/ses.py
+++ b/aws_lambda_powertools/utilities/parser/models/ses.py
@@ -36,9 +36,9 @@ class SesMailHeaders(BaseModel):
 class SesMailCommonHeaders(BaseModel):
     header_from: List[str] = Field(None, alias="from")
     to: List[str]
-    cc: Optional[List[str]]
-    bcc: Optional[List[str]]
-    sender: Optional[List[str]]
+    cc: Optional[List[str]] = None
+    bcc: Optional[List[str]] = None
+    sender: Optional[List[str]] = None
     reply_to: Optional[List[str]] = Field(None, alias="reply-to")
     returnPath: str
     messageId: str
diff --git a/aws_lambda_powertools/utilities/parser/models/sns.py b/aws_lambda_powertools/utilities/parser/models/sns.py
index 6cd2fcec006..8f388f2974c 100644
--- a/aws_lambda_powertools/utilities/parser/models/sns.py
+++ b/aws_lambda_powertools/utilities/parser/models/sns.py
@@ -14,17 +14,17 @@ class SnsMsgAttributeModel(BaseModel):
 
 
 class SnsNotificationModel(BaseModel):
-    Subject: Optional[str]
+    Subject: Optional[str] = None
     TopicArn: str
     UnsubscribeUrl: HttpUrl
     Type: Literal["Notification"]
-    MessageAttributes: Optional[Dict[str, SnsMsgAttributeModel]]
+    MessageAttributes: Optional[Dict[str, SnsMsgAttributeModel]] = None
     Message: Union[str, TypingType[BaseModel]]
     MessageId: str
-    SigningCertUrl: Optional[HttpUrl]  # NOTE: FIFO opt-in removes attribute
-    Signature: Optional[str]  # NOTE: FIFO opt-in removes attribute
+    SigningCertUrl: Optional[HttpUrl] = None  # NOTE: FIFO opt-in removes attribute
+    Signature: Optional[str] = None  # NOTE: FIFO opt-in removes attribute
     Timestamp: datetime
-    SignatureVersion: Optional[str]  # NOTE: FIFO opt-in removes attribute
+    SignatureVersion: Optional[str] = None  # NOTE: FIFO opt-in removes attribute
 
     @root_validator(pre=True, allow_reuse=True)
     def check_sqs_protocol(cls, values):
diff --git a/aws_lambda_powertools/utilities/parser/models/sqs.py b/aws_lambda_powertools/utilities/parser/models/sqs.py
index 168707530f3..63ea4b76e0e 100644
--- a/aws_lambda_powertools/utilities/parser/models/sqs.py
+++ b/aws_lambda_powertools/utilities/parser/models/sqs.py
@@ -9,17 +9,17 @@
 class SqsAttributesModel(BaseModel):
     ApproximateReceiveCount: str
     ApproximateFirstReceiveTimestamp: datetime
-    MessageDeduplicationId: Optional[str]
-    MessageGroupId: Optional[str]
+    MessageDeduplicationId: Optional[str] = None
+    MessageGroupId: Optional[str] = None
     SenderId: str
     SentTimestamp: datetime
-    SequenceNumber: Optional[str]
-    AWSTraceHeader: Optional[str]
+    SequenceNumber: Optional[str] = None
+    AWSTraceHeader: Optional[str] = None
 
 
 class SqsMsgAttributeModel(BaseModel):
-    stringValue: Optional[str]
-    binaryValue: Optional[str]
+    stringValue: Optional[str] = None
+    binaryValue: Optional[str] = None
     stringListValues: List[str] = []
     binaryListValues: List[str] = []
     dataType: str
@@ -56,7 +56,7 @@ class SqsRecordModel(BaseModel):
     attributes: SqsAttributesModel
     messageAttributes: Dict[str, SqsMsgAttributeModel]
     md5OfBody: str
-    md5OfMessageAttributes: Optional[str]
+    md5OfMessageAttributes: Optional[str] = None
     eventSource: Literal["aws:sqs"]
     eventSourceARN: str
     awsRegion: str
diff --git a/aws_lambda_powertools/utilities/parser/parser.py b/aws_lambda_powertools/utilities/parser/parser.py
index eeaa5612fff..7e2d69e429c 100644
--- a/aws_lambda_powertools/utilities/parser/parser.py
+++ b/aws_lambda_powertools/utilities/parser/parser.py
@@ -1,6 +1,7 @@
 import logging
 from typing import Any, Callable, Dict, Optional, Type, overload
 
+from aws_lambda_powertools.utilities.parser.compat import disable_pydantic_v2_warning
 from aws_lambda_powertools.utilities.parser.types import EventParserReturnType, Model
 
 from ...middleware_factory import lambda_handler_decorator
@@ -156,6 +157,7 @@ def handler(event: Order, context: LambdaContext):
             raise InvalidEnvelopeError(f"Envelope must implement BaseEnvelope, envelope={envelope}")
 
     try:
+        disable_pydantic_v2_warning()
         logger.debug("Parsing and validating event model; no envelope used")
         if isinstance(event, str):
             return model.parse_raw(event)
diff --git a/docs/utilities/parser.md b/docs/utilities/parser.md
index f482dcb0410..d98835a8381 100644
--- a/docs/utilities/parser.md
+++ b/docs/utilities/parser.md
@@ -11,14 +11,19 @@ This utility provides data parsing and deep validation using [Pydantic](https://
 * Defines data in pure Python classes, then parse, validate and extract only what you want
 * Built-in envelopes to unwrap, extend, and validate popular event sources payloads
 * Enforces type hints at runtime with user-friendly errors
+* Support for Pydantic v1 and v2
 
 ## Getting started
 
 ### Install
 
+Powertools for AWS Lambda (Python) supports Pydantic v1 and v2. Each Pydantic version requires different dependencies before you can use Parser.
+
+#### Using Pydantic v1
+
 !!! info "This is not necessary if you're installing Powertools for AWS Lambda (Python) via [Lambda Layer/SAR](../index.md#lambda-layer){target="_blank"}"
 
-Add `aws-lambda-powertools[parser]` as a dependency in your preferred tool: _e.g._, _requirements.txt_, _pyproject.toml_. This will ensure you have the required dependencies before using Parser.
+Add `aws-lambda-powertools[parser]` as a dependency in your preferred tool: _e.g._, _requirements.txt_, _pyproject.toml_.
 
 ???+ warning
     This will increase the compressed package size by >10MB due to the Pydantic dependency.
@@ -28,6 +33,12 @@ Add `aws-lambda-powertools[parser]` as a dependency in your preferred tool: _e.g
 
 	Pip example: `SKIP_CYTHON=1 pip install --no-binary pydantic aws-lambda-powertools[parser]`
 
+#### Using Pydantic v2
+
+You need to bring Pydantic v2.0.3 or later as an external dependency. Note that [we suppress Pydantic v2 deprecation warnings](https://github.com/aws-powertools/powertools-lambda-python/issues/2672){target="_blank"} to reduce noise and optimize log costs.
+
+Add `aws-lambda-powertools` and `pydantic>=2.0.3` as a dependency in your preferred tool: _e.g._, _requirements.txt_, _pyproject.toml_.
+
 ### Defining models
 
 You can define models to parse incoming events by inheriting from `BaseModel`.
@@ -45,7 +56,7 @@ class Order(BaseModel):
 	id: int
 	description: str
 	items: List[OrderItem] # nesting models are supported
-	optional_field: Optional[str] # this field may or may not be available when parsing
+	optional_field: Optional[str] = None # this field may or may not be available when parsing
 ```
 
 These are simply Python classes that inherit from BaseModel. **Parser** enforces type hints declared in your model at runtime.
@@ -79,7 +90,7 @@ class Order(BaseModel):
 	id: int
 	description: str
 	items: List[OrderItem] # nesting models are supported
-	optional_field: Optional[str] # this field may or may not be available when parsing
+	optional_field: Optional[str] = None # this field may or may not be available when parsing
 
 
 @event_parser(model=Order)
@@ -124,7 +135,7 @@ class Order(BaseModel):
 	id: int
 	description: str
 	items: List[OrderItem] # nesting models are supported
-	optional_field: Optional[str] # this field may or may not be available when parsing
+	optional_field: Optional[str] = None # this field may or may not be available when parsing
 
 
 payload = {
diff --git a/pyproject.toml b/pyproject.toml
index 0356ff6167d..b6b89d3bae1 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -161,6 +161,15 @@ markers = [
     "perf: marks perf tests to be deselected (deselect with '-m \"not perf\"')",
 ]
 
+# MAINTENANCE: Remove these lines when drop support to Pydantic v1
+filterwarnings=[
+  "ignore:.*The `parse_obj` method is deprecated*:DeprecationWarning",
+  "ignore:.*The `parse_raw` method is deprecated*:DeprecationWarning",
+  "ignore:.*load_str_bytes is deprecated*:DeprecationWarning",
+  "ignore:.*The `dict` method is deprecated; use `model_dump` instead*:DeprecationWarning",
+  "ignore:.*Pydantic V1 style `@validator` validators are deprecated*:DeprecationWarning"
+]
+
 [build-system]
 requires = ["poetry-core>=1.3.2"]
 build-backend = "poetry.core.masonry.api"
diff --git a/ruff.toml b/ruff.toml
index f3a50abc720..424040ede1f 100644
--- a/ruff.toml
+++ b/ruff.toml
@@ -68,3 +68,4 @@ split-on-trailing-comma = true
 "tests/e2e/utils/data_builder/__init__.py" = ["F401"]
 "tests/e2e/utils/data_fetcher/__init__.py" = ["F401"]
 "aws_lambda_powertools/utilities/data_classes/s3_event.py" = ["A003"]
+"aws_lambda_powertools/utilities/parser/models/__init__.py" = ["E402"]
diff --git a/tests/functional/batch/sample_models.py b/tests/functional/batch/sample_models.py
index 556ff0ebf8a..72029e154d5 100644
--- a/tests/functional/batch/sample_models.py
+++ b/tests/functional/batch/sample_models.py
@@ -35,12 +35,15 @@ class OrderDynamoDB(BaseModel):
     # so Pydantic can auto-initialize nested Order model
     @validator("Message", pre=True)
     def transform_message_to_dict(cls, value: Dict[Literal["S"], str]):
-        return json.loads(value["S"])
+        try:
+            return json.loads(value["S"])
+        except TypeError:
+            raise ValueError
 
 
 class OrderDynamoDBChangeRecord(DynamoDBStreamChangedRecordModel):
-    NewImage: Optional[OrderDynamoDB]
-    OldImage: Optional[OrderDynamoDB]
+    NewImage: Optional[OrderDynamoDB] = None
+    OldImage: Optional[OrderDynamoDB] = None
 
 
 class OrderDynamoDBRecord(DynamoDBStreamRecordModel):
diff --git a/tests/functional/parser/conftest.py b/tests/functional/parser/conftest.py
index 34199a322b2..41347bc5fa9 100644
--- a/tests/functional/parser/conftest.py
+++ b/tests/functional/parser/conftest.py
@@ -6,6 +6,15 @@
 from aws_lambda_powertools.utilities.parser import BaseEnvelope
 
 
+@pytest.fixture
+def pydanticv2_only():
+    from pydantic import __version__
+
+    version = __version__.split(".")
+    if version[0] != "2":
+        pytest.skip("pydanticv2 test only")
+
+
 @pytest.fixture
 def dummy_event():
     return {"payload": {"message": "hello world"}}
diff --git a/tests/functional/parser/test_parser.py b/tests/functional/parser/test_parser.py
index c439134071c..1f948655917 100644
--- a/tests/functional/parser/test_parser.py
+++ b/tests/functional/parser/test_parser.py
@@ -1,6 +1,7 @@
 import json
 from typing import Dict, Union
 
+import pydantic
 import pytest
 
 from aws_lambda_powertools.utilities.parser import (
@@ -53,6 +54,27 @@ def handle_no_envelope(event: Dict, _: LambdaContext):
     handle_no_envelope(dummy_event["payload"], LambdaContext())
 
 
+@pytest.mark.usefixtures("pydanticv2_only")
+def test_pydanticv2_validation():
+    class FakeModel(pydantic.BaseModel):
+        region: str
+        event_name: str
+        version: int
+
+        # WHEN using the validator for v2
+        @pydantic.field_validator("version", mode="before")
+        def validate_field(cls, value):
+            return int(value)
+
+    event_raw = {"region": "us-east-1", "event_name": "aws-powertools", "version": "10"}
+    event_parsed = FakeModel(**event_raw)
+
+    # THEN parse the event as expected
+    assert event_parsed.region == event_raw["region"]
+    assert event_parsed.event_name == event_raw["event_name"]
+    assert event_parsed.version == int(event_raw["version"])
+
+
 @pytest.mark.parametrize("invalid_schema", [None, str, bool(), [], (), object])
 def test_parser_with_invalid_schema_type(dummy_event, invalid_schema):
     @event_parser(model=invalid_schema)
diff --git a/tests/functional/test_utilities_batch.py b/tests/functional/test_utilities_batch.py
index 1831ef973d9..e146d65744f 100644
--- a/tests/functional/test_utilities_batch.py
+++ b/tests/functional/test_utilities_batch.py
@@ -501,8 +501,8 @@ def transform_message_to_dict(cls, value: Dict[Literal["S"], str]):
             return json.loads(value["S"])
 
     class OrderDynamoDBChangeRecord(DynamoDBStreamChangedRecordModel):
-        NewImage: Optional[OrderDynamoDB]
-        OldImage: Optional[OrderDynamoDB]
+        NewImage: Optional[OrderDynamoDB] = None
+        OldImage: Optional[OrderDynamoDB] = None
 
     class OrderDynamoDBRecord(DynamoDBStreamRecordModel):
         dynamodb: OrderDynamoDBChangeRecord
@@ -545,8 +545,8 @@ def transform_message_to_dict(cls, value: Dict[Literal["S"], str]):
             return json.loads(value["S"])
 
     class OrderDynamoDBChangeRecord(DynamoDBStreamChangedRecordModel):
-        NewImage: Optional[OrderDynamoDB]
-        OldImage: Optional[OrderDynamoDB]
+        NewImage: Optional[OrderDynamoDB] = None
+        OldImage: Optional[OrderDynamoDB] = None
 
     class OrderDynamoDBRecord(DynamoDBStreamRecordModel):
         dynamodb: OrderDynamoDBChangeRecord
diff --git a/tests/unit/parser/schemas.py b/tests/unit/parser/schemas.py
index 1da0213ff45..fd2f29697dc 100644
--- a/tests/unit/parser/schemas.py
+++ b/tests/unit/parser/schemas.py
@@ -22,8 +22,8 @@ class MyDynamoBusiness(BaseModel):
 
 
 class MyDynamoScheme(DynamoDBStreamChangedRecordModel):
-    NewImage: Optional[MyDynamoBusiness]
-    OldImage: Optional[MyDynamoBusiness]
+    NewImage: Optional[MyDynamoBusiness] = None
+    OldImage: Optional[MyDynamoBusiness] = None
 
 
 class MyDynamoDBStreamRecordModel(DynamoDBStreamRecordModel):
diff --git a/tests/unit/parser/test_apigw.py b/tests/unit/parser/test_apigw.py
index a65d181cc54..b2ed294ff7a 100644
--- a/tests/unit/parser/test_apigw.py
+++ b/tests/unit/parser/test_apigw.py
@@ -138,7 +138,9 @@ def test_apigw_event_with_invalid_websocket_request():
     errors = err.value.errors()
     assert len(errors) == 1
     expected_msg = "messageId is available only when the `eventType` is `MESSAGE`"
-    assert errors[0]["msg"] == expected_msg
+    # Pydantic v2 adds "Value error," to the error string.
+    # So to maintain compatibility with v1 and v2, we've changed the way we test this.
+    assert expected_msg in errors[0]["msg"]
     assert expected_msg in str(err.value)
 
 
diff --git a/tests/unit/parser/test_cloudwatch.py b/tests/unit/parser/test_cloudwatch.py
index bc8bf0776f9..48d296c40ef 100644
--- a/tests/unit/parser/test_cloudwatch.py
+++ b/tests/unit/parser/test_cloudwatch.py
@@ -86,7 +86,9 @@ def test_handle_invalid_cloudwatch_trigger_event_no_envelope():
     with pytest.raises(ValidationError) as context:
         CloudWatchLogsModel(**raw_event)
 
-    assert context.value.errors()[0]["msg"] == "unable to decompress data"
+    # Pydantic v2 adds "Value error," to the error string.
+    # So to maintain compatibility with v1 and v2, we've changed the way we test this.
+    assert "unable to decompress data" in context.value.errors()[0]["msg"]
 
 
 def test_handle_invalid_event_with_envelope():