diff --git a/.idea/libraries/kotlinc_kotlin_dist.xml b/.idea/libraries/kotlinc_kotlin_dist.xml
index eea1abee79c6..eb4c7bc3493f 100644
--- a/.idea/libraries/kotlinc_kotlin_dist.xml
+++ b/.idea/libraries/kotlinc_kotlin_dist.xml
@@ -1,12 +1,12 @@
 <component name="libraryTable">
   <library name="kotlinc.kotlin-dist" type="repository">
-    <properties include-transitive-deps="false" maven-id="org.jetbrains.kotlin:kotlin-dist-for-ide:1.6.21-release-357" />
+    <properties include-transitive-deps="false" maven-id="org.jetbrains.kotlin:kotlin-dist-for-ide:1.7.0-RC-246" />
     <CLASSES>
-      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-dist-for-ide/1.6.21-release-357/kotlin-dist-for-ide-1.6.21-release-357.jar!/" />
+      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-dist-for-ide/1.7.0-RC-246/kotlin-dist-for-ide-1.7.0-RC-246.jar!/" />
     </CLASSES>
     <JAVADOC />
     <SOURCES>
-      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-dist-for-ide/1.6.21-release-357/kotlin-dist-for-ide-1.6.21-release-357-sources.jar!/" />
+      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-dist-for-ide/1.7.0-RC-246/kotlin-dist-for-ide-1.7.0-RC-246-sources.jar!/" />
     </SOURCES>
   </library>
 </component>
\ No newline at end of file
diff --git a/.idea/libraries/kotlinc_kotlin_jps_plugin_classpath.xml b/.idea/libraries/kotlinc_kotlin_jps_plugin_classpath.xml
index 056503e93009..ca3c0f503e77 100644
--- a/.idea/libraries/kotlinc_kotlin_jps_plugin_classpath.xml
+++ b/.idea/libraries/kotlinc_kotlin_jps_plugin_classpath.xml
@@ -1,12 +1,12 @@
 <component name="libraryTable">
   <library name="kotlinc.kotlin-jps-plugin-classpath" type="repository">
-    <properties include-transitive-deps="false" maven-id="org.jetbrains.kotlin:kotlin-jps-plugin-classpath:1.6.21-release-357" />
+    <properties include-transitive-deps="false" maven-id="org.jetbrains.kotlin:kotlin-jps-plugin-classpath:1.7.0-RC-246" />
     <CLASSES>
-      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-classpath/1.6.21-release-357/kotlin-jps-plugin-classpath-1.6.21-release-357.jar!/" />
+      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-classpath/1.7.0-RC-246/kotlin-jps-plugin-classpath-1.7.0-RC-246.jar!/" />
     </CLASSES>
     <JAVADOC />
     <SOURCES>
-      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-classpath/1.6.21-release-357/kotlin-jps-plugin-classpath-1.6.21-release-357-sources.jar!/" />
+      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-classpath/1.7.0-RC-246/kotlin-jps-plugin-classpath-1.7.0-RC-246-sources.jar!/" />
     </SOURCES>
   </library>
 </component>
\ No newline at end of file
diff --git a/.idea/libraries/kotlinc_kotlin_jps_plugin_tests.xml b/.idea/libraries/kotlinc_kotlin_jps_plugin_tests.xml
index 7c31d553c95c..649d6f77e261 100644
--- a/.idea/libraries/kotlinc_kotlin_jps_plugin_tests.xml
+++ b/.idea/libraries/kotlinc_kotlin_jps_plugin_tests.xml
@@ -1,12 +1,12 @@
 <component name="libraryTable">
   <library name="kotlinc.kotlin-jps-plugin-tests" type="repository">
-    <properties include-transitive-deps="false" maven-id="org.jetbrains.kotlin:kotlin-jps-plugin-tests-for-ide:1.6.21-release-357" />
+    <properties include-transitive-deps="false" maven-id="org.jetbrains.kotlin:kotlin-jps-plugin-tests-for-ide:1.7.0-RC-246" />
     <CLASSES>
-      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-tests-for-ide/1.6.21-release-357/kotlin-jps-plugin-tests-for-ide-1.6.21-release-357.jar!/" />
+      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-tests-for-ide/1.7.0-RC-246/kotlin-jps-plugin-tests-for-ide-1.7.0-RC-246.jar!/" />
     </CLASSES>
     <JAVADOC />
     <SOURCES>
-      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-tests-for-ide/1.6.21-release-357/kotlin-jps-plugin-tests-for-ide-1.6.21-release-357-sources.jar!/" />
+      <root url="jar://$MAVEN_REPOSITORY$/org/jetbrains/kotlin/kotlin-jps-plugin-tests-for-ide/1.7.0-RC-246/kotlin-jps-plugin-tests-for-ide-1.7.0-RC-246-sources.jar!/" />
     </SOURCES>
   </library>
 </component>
\ No newline at end of file
diff --git a/plugins/kotlin/maven/tests/test/org/jetbrains/kotlin/idea/maven/AbstractKotlinMavenImporterTest.kt b/plugins/kotlin/maven/tests/test/org/jetbrains/kotlin/idea/maven/AbstractKotlinMavenImporterTest.kt
index 5cd3615ed7c9..4b323e8cef59 100644
--- a/plugins/kotlin/maven/tests/test/org/jetbrains/kotlin/idea/maven/AbstractKotlinMavenImporterTest.kt
+++ b/plugins/kotlin/maven/tests/test/org/jetbrains/kotlin/idea/maven/AbstractKotlinMavenImporterTest.kt
@@ -2212,7 +2212,7 @@ abstract class AbstractKotlinMavenImporterTest : KotlinMavenImportingTestCase()
             }
 
             assertEquals(
-                "The bundled version (1.6.21-release-357) of the Kotlin JPS plugin will be used<br>" +
+                "The bundled version (1.7.0-RC-246) of the Kotlin JPS plugin will be used<br>" +
                         "The reason: Kotlin JPS compiler maximum supported version is '$maxVersion' but '$versionToImport' is specified",
                 text
             )
diff --git a/plugins/kotlin/util/project-model-updater/resources/model.properties b/plugins/kotlin/util/project-model-updater/resources/model.properties
index e550136efd15..2f94c56a2f34 100644
--- a/plugins/kotlin/util/project-model-updater/resources/model.properties
+++ b/plugins/kotlin/util/project-model-updater/resources/model.properties
@@ -1,4 +1,4 @@
-jpsPluginVersion=1.6.21-release-357
+jpsPluginVersion=1.7.0-RC-246
 kotlincVersion=1.7.20-dev-1059
 kotlincArtifactsMode=MAVEN
 jpsPluginArtifactsMode=MAVEN
\ No newline at end of file