diff --git a/annotation-processors/build.gradle.kts b/annotation-processors/build.gradle.kts
index d2498b10a..1c0282df7 100644
--- a/annotation-processors/build.gradle.kts
+++ b/annotation-processors/build.gradle.kts
@@ -11,6 +11,8 @@ plugins {
   kotlin("plugin.serialization") version "1.8.21"
 }
 
+val kotlinxSerializationVersion: String by project
+
 group = "com.intellij"
 version = "SNAPSHOT"
 
@@ -20,5 +22,9 @@ repositories {
 
 dependencies {
   compileOnly("com.google.devtools.ksp:symbol-processing-api:1.9.21-1.0.15")
-  implementation("org.jetbrains.kotlinx:kotlinx-serialization-json-jvm:1.6.0")
+  implementation("org.jetbrains.kotlinx:kotlinx-serialization-json-jvm:$kotlinxSerializationVersion") {
+    // kotlin stdlib is provided by IJ, so there is no need to include it into the distribution
+    exclude("org.jetbrains.kotlin", "kotlin-stdlib")
+    exclude("org.jetbrains.kotlin", "kotlin-stdlib-common")
+  }
 }
diff --git a/gradle.properties b/gradle.properties
index 84a428a19..8414bfa94 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -18,10 +18,15 @@ antlrVersion=4.10.1
 
 
 # Please don't forget to update kotlin version in buildscript section
+# Also update kotlinxSerializationVersion version
 kotlinVersion=1.8.21
 publishToken=token
 publishChannels=eap
 
+# Kotlinx serialization also uses some version of kotlin stdlib under the hood. However,
+#   we exclude this version from the dependency and use our own version of kotlin that is specified above
+kotlinxSerializationVersion=1.5.1
+
 slackUrl=
 youtrackToken=
 
diff --git a/vim-engine/build.gradle.kts b/vim-engine/build.gradle.kts
index c133e07dc..6eb3b70be 100644
--- a/vim-engine/build.gradle.kts
+++ b/vim-engine/build.gradle.kts
@@ -15,6 +15,7 @@ plugins {
 }
 
 val kotlinVersion: String by project
+val kotlinxSerializationVersion: String by project
 
 // group 'org.jetbrains.ideavim'
 // version 'SNAPSHOT'
@@ -46,7 +47,7 @@ dependencies {
 
     ksp(project(":annotation-processors"))
     implementation(project(":annotation-processors"))
-    compileOnly("org.jetbrains.kotlinx:kotlinx-serialization-json-jvm:1.6.0")
+    compileOnly("org.jetbrains.kotlinx:kotlinx-serialization-json-jvm:$kotlinxSerializationVersion")
 }
 
 tasks {