diff --git a/lower-constraints.txt b/lower-constraints.txt
index bb9438a905..c8ba804543 100644
--- a/lower-constraints.txt
+++ b/lower-constraints.txt
@@ -85,7 +85,7 @@ oslo.service==1.24.0
 oslo.utils==3.33.0
 oslo.versionedobjects==1.31.2
 oslotest==3.2.0
-osprofiler==1.4.0
+osprofiler==1.5.0
 packaging==17.1
 Paste==2.0.3
 PasteDeploy==1.5.2
diff --git a/releasenotes/notes/osprofiler-61a330800abe4ee6.yaml b/releasenotes/notes/osprofiler-61a330800abe4ee6.yaml
new file mode 100644
index 0000000000..757b72545d
--- /dev/null
+++ b/releasenotes/notes/osprofiler-61a330800abe4ee6.yaml
@@ -0,0 +1,6 @@
+---
+upgrade:
+  - |
+    The minimum required version of the ``osprofiler`` library is now 1.5.0.
+    This is now a new dependency, ironic has not been able to start with 1.4.0
+    since the Pike release when this dependency was introduced.
diff --git a/requirements.txt b/requirements.txt
index f31ba2dc26..e40b32aaae 100644
--- a/requirements.txt
+++ b/requirements.txt
@@ -29,7 +29,7 @@ oslo.reports>=1.18.0 # Apache-2.0
 oslo.serialization!=2.19.1,>=2.18.0 # Apache-2.0
 oslo.service!=1.28.1,>=1.24.0 # Apache-2.0
 oslo.utils>=3.33.0 # Apache-2.0
-osprofiler>=1.4.0 # Apache-2.0
+osprofiler>=1.5.0 # Apache-2.0
 os-traits>=0.4.0 # Apache-2.0
 pecan!=1.0.2,!=1.0.3,!=1.0.4,!=1.2,>=1.0.0 # BSD
 requests>=2.14.2 # Apache-2.0