diff --git a/cmake/modules/TTMLIRVersion.cmake b/cmake/modules/TTMLIRVersion.cmake
index 48e90b1d7..6434e3aca 100644
--- a/cmake/modules/TTMLIRVersion.cmake
+++ b/cmake/modules/TTMLIRVersion.cmake
@@ -24,14 +24,14 @@ execute_process(
 
 # Extract the major and minor version from the tag (assumes tags are in "major.minor" format)
 string(REGEX MATCH "^v([0-9]+)\\.([0-9]+)$" GIT_TAG_MATCH ${GIT_TAG})
-set(PROJECT_VERSION_MAJOR ${CMAKE_MATCH_1})
-set(PROJECT_VERSION_MINOR ${CMAKE_MATCH_2})
-set(PROJECT_VERSION_PATCH ${GIT_COMMITS})
+set(TTMLIR_VERSION_MAJOR ${CMAKE_MATCH_1})
+set(TTMLIR_VERSION_MINOR ${CMAKE_MATCH_2})
+set(TTMLIR_VERSION_PATCH ${GIT_COMMITS})
 
 message(STATUS "Project commit hash: ${TTMLIR_GIT_HASH}")
-message(STATUS "Project version: ${PROJECT_VERSION_MAJOR}.${PROJECT_VERSION_MINOR}.${PROJECT_VERSION_PATCH}")
+message(STATUS "Project version: ${TTMLIR_VERSION_MAJOR}.${TTMLIR_VERSION_MINOR}.${TTMLIR_VERSION_PATCH}")
 
 add_definitions("-DTTMLIR_GIT_HASH=${TTMLIR_GIT_HASH}")
-add_definitions("-DTTMLIR_VERSION_MAJOR=${PROJECT_VERSION_MAJOR}")
-add_definitions("-DTTMLIR_VERSION_MINOR=${PROJECT_VERSION_MINOR}")
-add_definitions("-DTTMLIR_VERSION_PATCH=${PROJECT_VERSION_PATCH}")
+add_definitions("-DTTMLIR_VERSION_MAJOR=${TTMLIR_VERSION_MAJOR}")
+add_definitions("-DTTMLIR_VERSION_MINOR=${TTMLIR_VERSION_MINOR}")
+add_definitions("-DTTMLIR_VERSION_PATCH=${TTMLIR_VERSION_PATCH}")
diff --git a/runtime/tools/python/CMakeLists.txt b/runtime/tools/python/CMakeLists.txt
index 60e3348a9..b2f8e56e3 100644
--- a/runtime/tools/python/CMakeLists.txt
+++ b/runtime/tools/python/CMakeLists.txt
@@ -4,7 +4,7 @@ add_custom_target(ttrt-copy-files
 )
 
 add_custom_target(ttrt
-  COMMAND TTMLIR_ENABLE_RUNTIME=${TTMLIR_ENABLE_RUNTIME} SOURCE_ROOT=${TTMLIR_SOURCE_DIR} python -m pip install .
+  COMMAND TTMLIR_ENABLE_RUNTIME=${TTMLIR_ENABLE_RUNTIME} TTMLIR_VERSION_MAJOR=${TTMLIR_VERSION_MAJOR} TTMLIR_VERSION_MINOR=${TTMLIR_VERSION_MINOR} TTMLIR_VERSION_PATCH=${TTMLIR_VERSION_PATCH} SOURCE_ROOT=${TTMLIR_SOURCE_DIR} python -m pip install .
   WORKING_DIRECTORY "${CMAKE_CURRENT_BINARY_DIR}"
   COMMENT "python ttrt package"
   DEPENDS ttrt-copy-files
diff --git a/runtime/tools/python/setup.py b/runtime/tools/python/setup.py
index 7e1980c96..b1cad6c70 100644
--- a/runtime/tools/python/setup.py
+++ b/runtime/tools/python/setup.py
@@ -7,7 +7,11 @@
 from setuptools import setup
 import shutil
 
-__version__ = "0.0.1"
+TTMLIR_VERSION_MAJOR=os.getenv('TTMLIR_VERSION_MAJOR', '0')
+TTMLIR_VERSION_MINOR=os.getenv('TTMLIR_VERSION_MINOR', '0')
+TTMLIR_VERSION_PATCH=os.getenv('TTMLIR_VERSION_PATCH', '0')
+
+__version__ = f"{TTMLIR_VERSION_MAJOR}.{TTMLIR_VERSION_MINOR}.{TTMLIR_VERSION_PATCH}"
 
 src_dir = os.environ.get(
     "SOURCE_ROOT",
diff --git a/runtime/tools/python/ttrt/__init__.py b/runtime/tools/python/ttrt/__init__.py
index 13a0b66ca..6e6b69c0e 100644
--- a/runtime/tools/python/ttrt/__init__.py
+++ b/runtime/tools/python/ttrt/__init__.py
@@ -6,6 +6,7 @@
 import os
 import json
 
+from pkg_resources import get_distribution
 
 def system_desc_as_dict(desc):
     return json.loads(desc.as_json())
@@ -16,6 +17,14 @@ def system_desc_as_dict(desc):
 if "TT_METAL_LOGGER_LEVEL" not in os.environ:
     os.environ["TT_METAL_LOGGER_LEVEL"] = "FATAL"
 
+def check_version(fb_version):
+    package_name = 'ttrt'
+    try:
+        package_version = get_distribution(package_name).version
+    except Exception as e:
+        print(f"Error retrieving version: {e} for {package_name}")
+
+    assert package_version == fb_version, f"{package_name}=v{package_version} does not match flatbuffer=v{fb_version}"
 
 def mlir_sections(fbb):
     d = ttrt.binary.as_dict(fbb)
@@ -73,6 +82,7 @@ def program_outputs(fbb):
 
 def read(args):
     fbb = ttrt.binary.load_from_path(args.binary)
+    check_version(fbb.version)
     read_actions[args.section](fbb)
 
 
@@ -117,6 +127,7 @@ def fromDataType(dtype):
         raise ValueError(f"unsupported dtype: {dtype}")
 
     fbb = ttrt.binary.load_binary_from_path(args.binary)
+    check_version(fbb.version)
     assert fbb.file_identifier == "TTNN", "Only TTNN binaries are supported"
     d = ttrt.binary.as_dict(fbb)
     assert args.program_index < len(d["programs"]), "args.program_index out of range"