diff --git a/lib/phpminimumversionlib.php b/lib/phpminimumversionlib.php
index 0c3e0d179cc..e810ddce5f0 100644
--- a/lib/phpminimumversionlib.php
+++ b/lib/phpminimumversionlib.php
@@ -48,8 +48,8 @@ function moodle_minimum_php_version_is_met($haltexecution = false) {
     // PLEASE NOTE THIS FUNCTION MUST BE COMPATIBLE WITH OLD UNSUPPORTED VERSIONS OF PHP.
     // Do not use modern php features or Moodle convenience functions (e.g. localised strings).
 
-    $minimumversion = '7.1.0';
-    $moodlerequirementchanged = '3.7';
+    $minimumversion = '7.4.0';
+    $moodlerequirementchanged = '4.1';
 
     if (version_compare(PHP_VERSION, $minimumversion) < 0) {
         if ($haltexecution) {