diff --git a/conanfile.txt b/conanfile.txt
index 33413b613db..a5aecb83b53 100644
--- a/conanfile.txt
+++ b/conanfile.txt
@@ -2,7 +2,7 @@
 ade/0.1.2a
 onetbb/[>=2021.2.1]
 pugixml/[>=1.10]
-protobuf/[>=3.20.3]
+protobuf/3.21.9
 ittapi/[>=3.23.0]
 zlib/[>=1.2.8]
 opencl-icd-loader/2023.04.17
@@ -19,7 +19,7 @@ flatbuffers/[>=22.9.24]
 [tool_requires]
 cmake/[>=3.15]
 patchelf/[>=0.12]
-protobuf/[>=3.20.3]
+protobuf/3.21.9
 flatbuffers/[>=22.9.24]
 
 [options]
diff --git a/src/frontends/common/shutdown_protobuf/CMakeLists.txt b/src/frontends/common/shutdown_protobuf/CMakeLists.txt
index 4b0c2309abb..affac6ef605 100644
--- a/src/frontends/common/shutdown_protobuf/CMakeLists.txt
+++ b/src/frontends/common/shutdown_protobuf/CMakeLists.txt
@@ -9,3 +9,4 @@ add_library(${TARGET_NAME} STATIC shutdown_protobuf.cpp)
 target_include_directories(${TARGET_NAME} SYSTEM PRIVATE
     $<BUILD_INTERFACE:$<TARGET_PROPERTY:protobuf::libprotobuf,INTERFACE_INCLUDE_DIRECTORIES>>)
 set_target_properties(${TARGET_NAME} PROPERTIES INTERPROCEDURAL_OPTIMIZATION_RELEASE ${ENABLE_LTO})
+target_compile_features(${TARGET_NAME} PRIVATE $<TARGET_PROPERTY:protobuf::libprotobuf,INTERFACE_COMPILE_FEATURES>)
diff --git a/src/frontends/onnx/frontend/src/frontend.cpp b/src/frontends/onnx/frontend/src/frontend.cpp
index 4108070c4f2..3ed28b64737 100644
--- a/src/frontends/onnx/frontend/src/frontend.cpp
+++ b/src/frontends/onnx/frontend/src/frontend.cpp
@@ -2,7 +2,15 @@
 // SPDX-License-Identifier: Apache-2.0
 //
 
-#include <google/protobuf/stubs/logging.h>
+#include <google/protobuf/port_def.inc>
+#if PROTOBUF_VERSION >= 4022000  // protobuf 4.22
+#    define OV_PROTOBUF_ABSL_IS_USED
+#endif
+#include <google/protobuf/port_undef.inc>
+
+#ifndef OV_PROTOBUF_ABSL_IS_USED
+#    include <google/protobuf/stubs/logging.h>
+#endif
 
 #include <fstream>
 #include <input_model.hpp>
@@ -37,7 +45,9 @@ ONNX_FRONTEND_C_API void* get_front_end_data() {
     };
 #ifndef OPENVINO_DEBUG_ENABLE
     // disable protobuf logging
+#    ifndef OV_PROTOBUF_ABSL_IS_USED
     google::protobuf::SetLogHandler(nullptr);
+#    endif
 #endif
     return res;
 }
diff --git a/src/frontends/paddle/src/frontend.cpp b/src/frontends/paddle/src/frontend.cpp
index 340f3e9722a..3ad7c9955de 100644
--- a/src/frontends/paddle/src/frontend.cpp
+++ b/src/frontends/paddle/src/frontend.cpp
@@ -4,7 +4,15 @@
 
 #include "openvino/frontend/paddle/frontend.hpp"
 
-#include <google/protobuf/stubs/logging.h>
+#include <google/protobuf/port_def.inc>
+#if PROTOBUF_VERSION >= 4022000  // protobuf 4.22
+#    define OV_PROTOBUF_ABSL_IS_USED
+#endif
+#include <google/protobuf/port_undef.inc>
+
+#ifndef OV_PROTOBUF_ABSL_IS_USED
+#    include <google/protobuf/stubs/logging.h>
+#endif
 
 #include <fstream>
 #include <map>
@@ -551,7 +559,9 @@ PADDLE_C_API void* get_front_end_data() {
 
 #ifndef OPENVINO_DEBUG_ENABLE
     // disable protobuf logging
+#    ifndef OV_PROTOBUF_ABSL_IS_USED
     google::protobuf::SetLogHandler(nullptr);
+#    endif
 #endif
     return res;
 }
diff --git a/thirdparty/dependencies.cmake b/thirdparty/dependencies.cmake
index e815baa80ce..c209d9ae44c 100644
--- a/thirdparty/dependencies.cmake
+++ b/thirdparty/dependencies.cmake
@@ -446,8 +446,16 @@ if(ENABLE_OV_PADDLE_FRONTEND OR ENABLE_OV_ONNX_FRONTEND OR ENABLE_OV_TF_FRONTEND
         if(CMAKE_VERBOSE_MAKEFILE)
             set(Protobuf_DEBUG ON)
         endif()
-        # Note: we also specify 'protobuf' in NAMES because vcpkg
-        find_package(Protobuf 3.20.3 REQUIRED NAMES Protobuf protobuf)
+        # Note: we also specify 'protobuf' in NAMES because of vcpkg
+        set(find_package_protobuf_names Protobuf protobuf)
+        # try to find newer version first (major is changed)
+        # see https://protobuf.dev/support/version-support/ and
+        # https://github.com/protocolbuffers/protobuf/commit/d61f75ff6db36b4f9c0765f131f8edc2f86310fa
+        find_package(Protobuf 4.22.0 QUIET NAMES ${find_package_protobuf_names})
+        if(NOT Protobuf_FOUND)
+            # otherwise, fallback to existing default
+            find_package(Protobuf 3.20.3 REQUIRED NAMES ${find_package_protobuf_names})
+        endif()
         set(PROTOC_EXECUTABLE protobuf::protoc)
     else()
         add_subdirectory(thirdparty/protobuf EXCLUDE_FROM_ALL)
diff --git a/thirdparty/onnx/CMakeLists.txt b/thirdparty/onnx/CMakeLists.txt
index 05eb9ac964f..19d8aabd4ef 100644
--- a/thirdparty/onnx/CMakeLists.txt
+++ b/thirdparty/onnx/CMakeLists.txt
@@ -49,7 +49,6 @@ endforeach()
 if(WIN32)
     # from onnx==1.13.1 it requires C++17 when compiling on Windows
     target_compile_features(onnx PRIVATE cxx_std_17)
-    set_target_properties(onnx PROPERTIES CXX_STANDARD 17)
     # OPTIONAL is a reserved word for mingw at least
     if(MINGW)
         target_compile_definitions(onnx PRIVATE OPTIONAL=OPTIONAL_PLACEHOLDER)
diff --git a/thirdparty/protobuf/CMakeLists.txt b/thirdparty/protobuf/CMakeLists.txt
index 2c05ba7360c..1e782987d01 100644
--- a/thirdparty/protobuf/CMakeLists.txt
+++ b/thirdparty/protobuf/CMakeLists.txt
@@ -22,6 +22,7 @@ set(protobuf_VERBOSE ON)
 set(protobuf_BUILD_TESTS OFF CACHE BOOL "Build tests" FORCE)
 set(protobuf_BUILD_SHARED_LIBS OFF CACHE BOOL "Build shared libs" FORCE)
 set(protobuf_WITH_ZLIB OFF CACHE BOOL "Build with zlib support" FORCE)
+set(ABSL_PROPAGATE_CXX_STD ON CACHE BOOL "Abseil protogate CXX standard to dependent targets" FORCE)
 
 # note: HOST_AARCH64 AND X86_64 are not handled for Apple explicitly, because it can work via Rosetta
 if(CMAKE_CROSSCOMPILING OR
@@ -38,8 +39,14 @@ if(NOT DEFINED protobuf_MSVC_STATIC_RUNTIME)
     set(protobuf_MSVC_STATIC_RUNTIME OFF CACHE BOOL "Link protobuf to static runtime libraries" FORCE)
 endif()
 
-add_subdirectory(protobuf/cmake EXCLUDE_FROM_ALL)
-get_directory_property(protobuf_VERSION DIRECTORY protobuf/cmake DEFINITION protobuf_VERSION)
+if(EXISTS "${CMAKE_CURRENT_SOURCE_DIR}/protobuf/CMakeLists.txt")
+    set(protobuf_dir protobuf)
+else()
+    set(protobuf_dir protobuf/cmake)
+endif()
+
+add_subdirectory(${protobuf_dir} EXCLUDE_FROM_ALL)
+get_directory_property(protobuf_VERSION DIRECTORY ${protobuf_dir} DEFINITION protobuf_VERSION)
 
 set(Protobuf_INCLUDE_DIRS ${CMAKE_CURRENT_SOURCE_DIR}/protobuf/src)
 
@@ -61,7 +68,7 @@ if(CMAKE_COMPILER_IS_GNUCXX OR OV_COMPILER_IS_CLANG OR
         INTERPROCEDURAL_OPTIMIZATION_RELEASE ${ENABLE_LTO})
 endif()
 
-if(protobuf_VERSION VERSION_LESS "3.9")
+if(protobuf_VERSION VERSION_LESS 3.9)
     message(FATAL_ERROR "Minimum supported version of protobuf-lite library is 3.9.0 (provided ${protobuf_VERSION})")
 endif()
 
@@ -76,7 +83,7 @@ if(NOT protobuf_BUILD_PROTOC_BINARIES)
         CMAKE_ARGS "-Dprotobuf_VERBOSE=${protobuf_VERBOSE}"
                    "-Dprotobuf_BUILD_TESTS=${protobuf_BUILD_TESTS}"
                    "-Dprotobuf_WITH_ZLIB=${protobuf_WITH_ZLIB}"
-        NATIVE_SOURCE_SUBDIR "protobuf/cmake"
+        NATIVE_SOURCE_SUBDIR "${protobuf_dir}"
         NATIVE_TARGETS protoc libprotobuf-lite)
 
     set(PROTOC_EXECUTABLE "${HOST_PROTOC_INSTALL_DIR}/bin/protoc")