diff --git a/requirements.txt b/requirements.txt
index df4c7d4471c..42f8d994dab 100644
--- a/requirements.txt
+++ b/requirements.txt
@@ -11,7 +11,9 @@ torchaudio
 torchtext
 torchvision
 pydantic<2.0
-transformers>=4.31.0
+# TODO(Arnav): Lift transformers package restriction once 4.32.2 is released.
+# Issue: https://github.com/ludwig-ai/ludwig/issues/3571
+transformers>=4.31.0,<4.32.0
 tokenizers>=0.13.3
 spacy>=2.3
 PyYAML>=3.12,<6.0.1,!=5.4.* #Exlude PyYAML 5.4.* due to incompatibility with awscli