diff --git a/.github/workflows/build_example.yml b/.github/workflows/build_example.yml
index a1584b65..ab760547 100644
--- a/.github/workflows/build_example.yml
+++ b/.github/workflows/build_example.yml
@@ -36,7 +36,7 @@ jobs:
       - name: Build ESP-BSP examples
         shell: bash
         env:
-          extra_arguments: "${{ matrix.idf_ver == 'latest' && '--default-build-targets esp32 esp32s2 esp32s3 esp32c2 esp32c3 esp32c5 esp32c6 esp32h2 esp32p4' || '' }}"
+          extra_arguments: "${{ matrix.idf_ver == 'latest' && '--default-build-targets esp32 esp32s2 esp32s3 esp32c2 esp32c3 esp32c6 esp32h2 esp32p4' || '' }}"
         run: |
           export IDF_EXTRA_ACTIONS_PATH=${GITHUB_WORKSPACE}/examples
           . ${IDF_PATH}/export.sh
diff --git a/bsp/esp32_p4_function_ev_board/README.md b/bsp/esp32_p4_function_ev_board/README.md
index aeb908e0..5150bc7f 100644
--- a/bsp/esp32_p4_function_ev_board/README.md
+++ b/bsp/esp32_p4_function_ev_board/README.md
@@ -2,7 +2,7 @@
 
 [![Component Registry](https://components.espressif.com/components/espressif/esp32_p4_function_ev_board/badge.svg)](https://components.espressif.com/components/espressif/esp32_p4_function_ev_board)
 
-ESP32-P4 Function EV Board is internal Espressif board for testing features on ESP32P4 chip.  
+ESP32-P4 Function EV Board is internal Espressif board for testing features on ESP32P4 chip.
 
 <!-- Autogenerated start: Dependencies -->
 ### Dependencies
@@ -11,6 +11,6 @@ ESP32-P4 Function EV Board is internal Espressif board for testing features on E
 |   [espressif/esp_lcd_ili9881c](https://components.espressif.com/components/espressif/esp_lcd_ili9881c)   |>=0.2.0|
 |[espressif/esp_lcd_touch_gt911](https://components.espressif.com/components/espressif/esp_lcd_touch_gt911)|   ^1  |
 |      [espressif/esp_lvgl_port](https://components.espressif.com/components/espressif/esp_lvgl_port)      |   ^2  |
-|                                                    idf                                                   | >=5.2 |
+|                                                    idf                                                   | >=5.3 |
 |                    [lvgl/lvgl](https://components.espressif.com/components/lvgl/lvgl)                    |   ^8  |
 <!-- Autogenerated end: Dependencies -->
diff --git a/bsp/esp32_p4_function_ev_board/esp32_p4_function_ev_board.c b/bsp/esp32_p4_function_ev_board/esp32_p4_function_ev_board.c
index 355c30ad..a24206ab 100644
--- a/bsp/esp32_p4_function_ev_board/esp32_p4_function_ev_board.c
+++ b/bsp/esp32_p4_function_ev_board/esp32_p4_function_ev_board.c
@@ -12,7 +12,7 @@
 #include "esp_spiffs.h"
 #include "esp_lcd_panel_ops.h"
 #include "esp_lcd_mipi_dsi.h"
-#include "esp_private/esp_ldo.h"
+#include "esp_ldo_regulator.h"
 #include "esp_lcd_ili9881c.h"
 #include "esp_vfs_fat.h"
 #include "usb/usb_host.h"
@@ -192,20 +192,16 @@ esp_err_t bsp_display_backlight_on(void)
 
 static esp_err_t bsp_enable_dsi_phy_power(void)
 {
+#if BSP_MIPI_DSI_PHY_PWR_LDO_CHAN > 0
     // Turn on the power for MIPI DSI PHY, so it can go from "No Power" state to "Shutdown" state
-    esp_ldo_unit_handle_t phy_pwr_unit = NULL;
-#if BSP_MIPI_DSI_PHY_PWR_LDO_UNIT > 0
-    esp_ldo_unit_init_cfg_t ldo_cfg = {
-        .unit_id = BSP_MIPI_DSI_PHY_PWR_LDO_UNIT,
-        .cfg = {
-            .voltage_mv = BSP_MIPI_DSI_PHY_PWR_LDO_VOLTAGE_MV,
-        },
+    static esp_ldo_channel_handle_t phy_pwr_chan = NULL;
+    esp_ldo_channel_config_t ldo_cfg = {
+        .chan_id = BSP_MIPI_DSI_PHY_PWR_LDO_CHAN,
+        .voltage_mv = BSP_MIPI_DSI_PHY_PWR_LDO_VOLTAGE_MV,
     };
-    ESP_RETURN_ON_ERROR(esp_ldo_init_unit(&ldo_cfg, &phy_pwr_unit), TAG, "LDO init failed");
-    ESP_RETURN_ON_ERROR(esp_ldo_enable_unit(phy_pwr_unit), TAG, "LDO enable failed");
-
+    ESP_RETURN_ON_ERROR(esp_ldo_acquire_channel(&ldo_cfg, &phy_pwr_chan), TAG, "Acquire LDO channel for DPHY failed");
     ESP_LOGI(TAG, "MIPI DSI PHY Powered on");
-#endif
+#endif // BSP_MIPI_DSI_PHY_PWR_LDO_CHAN > 0
 
     return ESP_OK;
 }
diff --git a/bsp/esp32_p4_function_ev_board/idf_component.yml b/bsp/esp32_p4_function_ev_board/idf_component.yml
index eed65801..009c572d 100644
--- a/bsp/esp32_p4_function_ev_board/idf_component.yml
+++ b/bsp/esp32_p4_function_ev_board/idf_component.yml
@@ -1,4 +1,4 @@
-version: "1.0.0"
+version: "1.1.0"
 description: Board Support Package (BSP) for ESP32-P4 Function EV Board (preview)
 url: https://github.com/espressif/esp-bsp/tree/master/bsp/esp32_p4_function_ev_board
 
@@ -9,7 +9,7 @@ tags:
   - bsp
 
 dependencies:
-  idf: ">=5.2"
+  idf: ">=5.3"
   esp_lcd_ili9881c: ">=0.2.0"
   esp_lcd_touch_gt911: "^1"
   lvgl/lvgl: "^8"
diff --git a/bsp/esp32_p4_function_ev_board/include/bsp/display.h b/bsp/esp32_p4_function_ev_board/include/bsp/display.h
index db898c1c..1efd896c 100644
--- a/bsp/esp32_p4_function_ev_board/include/bsp/display.h
+++ b/bsp/esp32_p4_function_ev_board/include/bsp/display.h
@@ -44,7 +44,7 @@
 #define BSP_LCD_MIPI_DSI_LANE_NUM          (2)    // 2 data lanes
 #define BSP_LCD_MIPI_DSI_LANE_BITRATE_MBPS (1000) // 1Gbps
 
-#define BSP_MIPI_DSI_PHY_PWR_LDO_UNIT       (3)  // LDO_VO3 is connected to VDD_MIPI_DPHY
+#define BSP_MIPI_DSI_PHY_PWR_LDO_CHAN       (3)  // LDO_VO3 is connected to VDD_MIPI_DPHY
 #define BSP_MIPI_DSI_PHY_PWR_LDO_VOLTAGE_MV (2500)
 
 #ifdef __cplusplus