diff --git a/HISTORY.rst b/HISTORY.rst
index 4f1cc2d3..9b6c8e0b 100644
--- a/HISTORY.rst
+++ b/HISTORY.rst
@@ -21,8 +21,9 @@ test-driven methodologies, and modern toolchains for unrivaled success.
 ~~~~~~~~~~~~~~~~~~~
 
 * Broadened version support for the ``pyelftools`` dependency, enabling compatibility with lower versions and facilitating integration with a wider range of third-party tools (`issue #4834 <https://github.com/platformio/platformio-core/issues/4834>`_)
-* Resolved an issue related to the relative package path in the `pio pkg publish <https://docs.platformio.org/en/latest/core/userguide/pkg/cmd_publish.html>`__ command
 * Addressed an issue where passing a relative path (``--project-dir``) to the `pio project init <https://docs.platformio.org/en/latest/core/userguide/project/cmd_init.html>`__ command resulted in an error (`issue #4847 <https://github.com/platformio/platformio-core/issues/4847>`_)
+* Resolved an issue related to the relative package path in the `pio pkg publish <https://docs.platformio.org/en/latest/core/userguide/pkg/cmd_publish.html>`__ command
+* Resolved an issue where the |LDF| selected an incorrect library version (`issue #4860 <https://github.com/platformio/platformio-core/issues/4860>`_)
 
 6.1.13 (2024-01-12)
 ~~~~~~~~~~~~~~~~~~~
diff --git a/platformio/builder/tools/piolib.py b/platformio/builder/tools/piolib.py
index aa18cd1a..b6ba8d84 100644
--- a/platformio/builder/tools/piolib.py
+++ b/platformio/builder/tools/piolib.py
@@ -309,10 +309,10 @@ class LibBuilderBase:
         if not self.dependencies or self._deps_are_processed:
             return
         self._deps_are_processed = True
-        for item in self.dependencies:
+        for dependency in self.dependencies:
             found = False
             for lb in self.env.GetLibBuilders():
-                if item["name"] != lb.name:
+                if not lb.is_dependency_compatible(dependency):
                     continue
                 found = True
                 if lb not in self.depbuilders:
@@ -322,9 +322,20 @@ class LibBuilderBase:
             if not found and self.verbose:
                 sys.stderr.write(
                     "Warning: Ignored `%s` dependency for `%s` "
-                    "library\n" % (item["name"], self.name)
+                    "library\n" % (dependency["name"], self.name)
                 )
 
+    def is_dependency_compatible(self, dependency):
+        pkg = PackageItem(self.path)
+        qualifiers = {"name": self.name, "version": self.version}
+        if pkg.metadata:
+            qualifiers = {"name": pkg.metadata.name, "version": pkg.metadata.version}
+            if pkg.metadata.spec and pkg.metadata.spec.owner:
+                qualifiers["owner"] = pkg.metadata.spec.owner
+        return PackageCompatibility.from_dependency(dependency).is_compatible(
+            PackageCompatibility(**qualifiers)
+        )
+
     def get_search_files(self):
         return [
             os.path.join(self.src_dir, item)
diff --git a/platformio/package/manager/_install.py b/platformio/package/manager/_install.py
index 125766d3..12c116d1 100644
--- a/platformio/package/manager/_install.py
+++ b/platformio/package/manager/_install.py
@@ -99,7 +99,11 @@ class PackageManagerInstallMixin:
             pkg = self.install_from_registry(
                 spec,
                 search_qualifiers=(
-                    compatibility.to_search_qualifiers() if compatibility else None
+                    compatibility.to_search_qualifiers(
+                        ["platforms", "frameworks", "authors"]
+                    )
+                    if compatibility
+                    else None
                 ),
             )
 
diff --git a/platformio/package/meta.py b/platformio/package/meta.py
index b9e3750d..7597148e 100644
--- a/platformio/package/meta.py
+++ b/platformio/package/meta.py
@@ -65,7 +65,14 @@ class PackageType:
 
 
 class PackageCompatibility:
-    KNOWN_QUALIFIERS = ("platforms", "frameworks", "authors")
+    KNOWN_QUALIFIERS = (
+        "owner",
+        "name",
+        "version",
+        "platforms",
+        "frameworks",
+        "authors",
+    )
 
     @classmethod
     def from_dependency(cls, dependency):
@@ -89,19 +96,45 @@ class PackageCompatibility:
     def __repr__(self):
         return "PackageCompatibility <%s>" % self.qualifiers
 
-    def to_search_qualifiers(self):
-        return self.qualifiers
+    def to_search_qualifiers(self, fields=None):
+        result = {}
+        for name, value in self.qualifiers.items():
+            if not fields or name in fields:
+                result[name] = value
+        return result
 
     def is_compatible(self, other):
         assert isinstance(other, PackageCompatibility)
-        for key, value in self.qualifiers.items():
+        for key, current_value in self.qualifiers.items():
             other_value = other.qualifiers.get(key)
-            if not value or not other_value:
+            if not current_value or not other_value:
                 continue
-            if not items_in_list(value, other_value):
+            if any(isinstance(v, list) for v in (current_value, other_value)):
+                if not items_in_list(current_value, other_value):
+                    return False
+                continue
+            if key == "version":
+                if not self._compare_versions(current_value, other_value):
+                    return False
+                continue
+            if current_value != other_value:
                 return False
         return True
 
+    def _compare_versions(self, current, other):
+        if current == other:
+            return True
+        try:
+            version = (
+                other
+                if isinstance(other, semantic_version.Version)
+                else cast_version_to_semver(other)
+            )
+            return version in semantic_version.SimpleSpec(current)
+        except ValueError:
+            pass
+        return False
+
 
 class PackageOutdatedResult:
     UPDATE_INCREMENT_MAJOR = "major"