diff --git a/CMakeLists.txt b/CMakeLists.txt
index b9c88d4add33..1c7dc7d568d3 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -418,7 +418,7 @@ if(${VELOX_ENABLE_DUCKDB})
 endif()
 
 set_source(fmt)
-resolve_dependency(fmt)
+resolve_dependency(fmt 9.0.0)
 
 if(NOT ${VELOX_BUILD_MINIMAL})
   find_package(ZLIB REQUIRED)
diff --git a/scripts/setup-ubuntu.sh b/scripts/setup-ubuntu.sh
index 14ac9f144b91..69760cf85ec0 100755
--- a/scripts/setup-ubuntu.sh
+++ b/scripts/setup-ubuntu.sh
@@ -24,11 +24,12 @@ CPU_TARGET="${CPU_TARGET:-avx}"
 COMPILER_FLAGS=$(get_cxx_flags "$CPU_TARGET")
 export COMPILER_FLAGS
 FB_OS_VERSION=v2023.12.04.00
+FMT_VERSION=10.1.1
 NPROC=$(getconf _NPROCESSORS_ONLN)
 DEPENDENCY_DIR=${DEPENDENCY_DIR:-$(pwd)}
 export CMAKE_BUILD_TYPE=Release
 
-# Install all velox and folly dependencies. 
+# Install all velox and folly dependencies.
 # The is an issue on 22.04 where a version conflict prevents glog install,
 # installing libunwind first fixes this.
 apt update && apt install sudo
@@ -46,7 +47,6 @@ sudo --preserve-env apt update && sudo --preserve-env apt install -y libunwind-d
   libboost-all-dev \
   libicu-dev \
   libdouble-conversion-dev \
-  libfmt-dev \
   libgoogle-glog-dev \
   libbz2-dev \
   libgflags-dev \
@@ -87,6 +87,11 @@ function prompt {
   ) 2> /dev/null
 }
 
+function install_fmt {
+  github_checkout fmtlib/fmt "${FMT_VERSION}"
+  cmake_install -DFMT_TEST=OFF
+}
+
 function install_folly {
   github_checkout facebook/folly "${FB_OS_VERSION}"
   cmake_install -DBUILD_TESTS=OFF -DFOLLY_HAVE_INT128_T=ON
@@ -120,6 +125,7 @@ function install_conda {
 }
 
 function install_velox_deps {
+  run_and_time install_fmt
   run_and_time install_folly
   run_and_time install_fizz
   run_and_time install_wangle