diff --git a/litellm/main.py b/litellm/main.py
index 6bedf8f7ea..b18914a6cc 100644
--- a/litellm/main.py
+++ b/litellm/main.py
@@ -354,7 +354,7 @@ async def acompletion(
     logprobs: Optional[bool] = None,
     top_logprobs: Optional[int] = None,
     deployment_id=None,
-    reasoning_effort: Optional[Literal["low", "medium", "high"]] = None,
+    reasoning_effort: Optional[Literal["minimal", "low", "medium", "high"]] = None,
     # set api_base, api_version, api_key
     base_url: Optional[str] = None,
     api_version: Optional[str] = None,
@@ -893,7 +893,7 @@ def completion(  # type: ignore # noqa: PLR0915
     logit_bias: Optional[dict] = None,
     user: Optional[str] = None,
     # openai v1.0+ new params
-    reasoning_effort: Optional[Literal["low", "medium", "high"]] = None,
+    reasoning_effort: Optional[Literal["minimal", "low", "medium", "high"]] = None,
     response_format: Optional[Union[dict, Type[BaseModel]]] = None,
     seed: Optional[int] = None,
     tools: Optional[List] = None,
diff --git a/poetry.lock b/poetry.lock
index 16b72b3888..a7781ff52f 100644
--- a/poetry.lock
+++ b/poetry.lock
@@ -1,4 +1,4 @@
-# This file is automatically @generated by Poetry 2.1.2 and should not be changed by hand.
+# This file is automatically @generated by Poetry 2.1.3 and should not be changed by hand.
 
 [[package]]
 name = "aiohappyeyeballs"
@@ -3267,14 +3267,14 @@ signedtoken = ["cryptography (>=3.0.0)", "pyjwt (>=2.0.0,<3)"]
 
 [[package]]
 name = "openai"
-version = "1.98.0"
+version = "1.99.5"
 description = "The official Python library for the openai API"
 optional = false
 python-versions = ">=3.8"
 groups = ["main"]
 files = [
-    {file = "openai-1.98.0-py3-none-any.whl", hash = "sha256:b99b794ef92196829120e2df37647722104772d2a74d08305df9ced5f26eae34"},
-    {file = "openai-1.98.0.tar.gz", hash = "sha256:3ee0fcc50ae95267fd22bd1ad095ba5402098f3df2162592e68109999f685427"},
+    {file = "openai-1.99.5-py3-none-any.whl", hash = "sha256:4e870f9501b7c36132e2be13313ce3c4d6915a837e7a299c483aab6a6d4412e9"},
+    {file = "openai-1.99.5.tar.gz", hash = "sha256:aa97ac3326cac7949c5e4ac0274c454c1d19c939760107ae0d3948fc26a924ca"},
 ]
 
 [package.dependencies]
@@ -6523,4 +6523,4 @@ utils = ["numpydoc"]
 [metadata]
 lock-version = "2.1"
 python-versions = ">=3.8.1,<4.0, !=3.9.7"
-content-hash = "91f8d8cba2aa02a3eb205e91118891612c510790e828b56d19057fc509e6d25d"
+content-hash = "1be89745d648fd61387e2856d44ed70e632f5c98c9d847a8a548551a86ff479d"
diff --git a/pyproject.toml b/pyproject.toml
index af7d949d77..e2b51f7aa2 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -21,7 +21,7 @@ Documentation = "https://docs.litellm.ai"
 [tool.poetry.dependencies]
 python = ">=3.8.1,<4.0, !=3.9.7"
 httpx = ">=0.23.0"
-openai = ">=1.68.2"
+openai = ">=1.99.5"
 python-dotenv = ">=0.2.0"
 tiktoken = ">=0.7.0"
 importlib-metadata = ">=6.8.0"
diff --git a/requirements.txt b/requirements.txt
index 6038bb5dab..481ea151c7 100644
--- a/requirements.txt
+++ b/requirements.txt
@@ -1,7 +1,7 @@
 # LITELLM PROXY DEPENDENCIES #
 anyio==4.8.0 # openai + http req.
 httpx==0.28.1
-openai==1.81.0  # openai req.
+openai==1.99.5  # openai req.
 fastapi==0.115.5 # server dep
 backoff==2.2.1 # server dep
 pyyaml==6.0.2 # server dep