diff --git a/subsys/net/lib/lwm2m/ipso_accelerometer.c b/subsys/net/lib/lwm2m/ipso_accelerometer.c
index 33f87151e36..4558004d71b 100644
--- a/subsys/net/lib/lwm2m/ipso_accelerometer.c
+++ b/subsys/net/lib/lwm2m/ipso_accelerometer.c
@@ -21,6 +21,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define ACCEL_VERSION_MAJOR 1
+#define ACCEL_VERSION_MINOR 0
+
 #ifdef CONFIG_LWM2M_IPSO_ACCELEROMETER_TIMESTAMP
 #define ADD_TIMESTAMPS 1
 #else
@@ -145,6 +148,9 @@ static struct lwm2m_engine_obj_inst *accel_create(uint16_t obj_inst_id)
 static int ipso_accel_init(const struct device *dev)
 {
 	accel.obj_id = IPSO_OBJECT_ACCELEROMETER_ID;
+	accel.version_major = ACCEL_VERSION_MAJOR;
+	accel.version_minor = ACCEL_VERSION_MINOR;
+	accel.is_core = false;
 	accel.fields = fields;
 	accel.field_count = ARRAY_SIZE(fields);
 	accel.max_instance_count = ARRAY_SIZE(inst);
diff --git a/subsys/net/lib/lwm2m/ipso_buzzer.c b/subsys/net/lib/lwm2m/ipso_buzzer.c
index 8f9e74b1fdb..d99aa3afb26 100644
--- a/subsys/net/lib/lwm2m/ipso_buzzer.c
+++ b/subsys/net/lib/lwm2m/ipso_buzzer.c
@@ -21,6 +21,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define BUZZER_VERSION_MAJOR 1
+#define BUZZER_VERSION_MINOR 0
+
 /* resource IDs */
 #define BUZZER_ON_OFF_ID		5850
 #define BUZZER_LEVEL_ID			5548
@@ -246,6 +249,9 @@ static struct lwm2m_engine_obj_inst *buzzer_create(uint16_t obj_inst_id)
 static int ipso_buzzer_init(const struct device *dev)
 {
 	buzzer.obj_id = IPSO_OBJECT_BUZZER_ID;
+	buzzer.version_major = BUZZER_VERSION_MAJOR;
+	buzzer.version_minor = BUZZER_VERSION_MINOR;
+	buzzer.is_core = false;
 	buzzer.fields = fields;
 	buzzer.field_count = ARRAY_SIZE(fields);
 	buzzer.max_instance_count = ARRAY_SIZE(inst);
diff --git a/subsys/net/lib/lwm2m/ipso_generic_sensor.c b/subsys/net/lib/lwm2m/ipso_generic_sensor.c
index 359d4bc40b9..efd8c5243de 100644
--- a/subsys/net/lib/lwm2m/ipso_generic_sensor.c
+++ b/subsys/net/lib/lwm2m/ipso_generic_sensor.c
@@ -24,6 +24,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_engine.h"
 #include "lwm2m_resource_ids.h"
 
+#define GENERIC_VERSION_MAJOR 1
+#define GENERIC_VERSION_MINOR 0
+
 #ifdef CONFIG_LWM2M_IPSO_GENERIC_SENSOR_TIMESTAMP
 #define ADD_TIMESTAMPS 1
 #define NUMBER_OF_OBJ_FIELDS 10
@@ -241,6 +244,9 @@ static struct lwm2m_engine_obj_inst *generic_sensor_create(uint16_t obj_inst_id)
 static int ipso_generic_sensor_init(const struct device *dev)
 {
 	sensor.obj_id = IPSO_OBJECT_ID;
+	sensor.version_major = GENERIC_VERSION_MAJOR;
+	sensor.version_minor = GENERIC_VERSION_MINOR;
+	sensor.is_core = false;
 	sensor.fields = fields;
 	sensor.field_count = ARRAY_SIZE(fields);
 	sensor.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/ipso_humidity_sensor.c b/subsys/net/lib/lwm2m/ipso_humidity_sensor.c
index 1bec5c1d274..843e149544a 100644
--- a/subsys/net/lib/lwm2m/ipso_humidity_sensor.c
+++ b/subsys/net/lib/lwm2m/ipso_humidity_sensor.c
@@ -19,6 +19,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_engine.h"
 #include "lwm2m_resource_ids.h"
 
+#define HUMIDITY_VERSION_MAJOR 1
+#define HUMIDITY_VERSION_MINOR 0
+
 #ifdef CONFIG_LWM2M_IPSO_HUMIDITY_SENSOR_TIMESTAMP
 #define ADD_TIMESTAMPS 1
 #define NUMBER_OF_OBJ_FIELDS 8
@@ -219,6 +222,9 @@ humidity_sensor_create(uint16_t obj_inst_id)
 static int ipso_humidity_sensor_init(const struct device *dev)
 {
 	sensor.obj_id = IPSO_OBJECT_ID;
+	sensor.version_major = HUMIDITY_VERSION_MAJOR;
+	sensor.version_minor = HUMIDITY_VERSION_MINOR;
+	sensor.is_core = false;
 	sensor.fields = fields;
 	sensor.field_count = ARRAY_SIZE(fields);
 	sensor.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/ipso_light_control.c b/subsys/net/lib/lwm2m/ipso_light_control.c
index 79ce2bdf308..64c2698add9 100644
--- a/subsys/net/lib/lwm2m/ipso_light_control.c
+++ b/subsys/net/lib/lwm2m/ipso_light_control.c
@@ -23,6 +23,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define LIGHT_VERSION_MAJOR 1
+#define LIGHT_VERSION_MINOR 0
+
 /* Server resource IDs */
 #define LIGHT_ON_OFF_ID				5850
 #define LIGHT_DIMMER_ID				5851
@@ -202,6 +205,9 @@ static struct lwm2m_engine_obj_inst *light_control_create(uint16_t obj_inst_id)
 static int ipso_light_control_init(const struct device *dev)
 {
 	light_control.obj_id = IPSO_OBJECT_LIGHT_CONTROL_ID;
+	light_control.version_major = LIGHT_VERSION_MAJOR;
+	light_control.version_minor = LIGHT_VERSION_MINOR;
+	light_control.is_core = false;
 	light_control.fields = fields;
 	light_control.field_count = ARRAY_SIZE(fields);
 	light_control.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/ipso_onoff_switch.c b/subsys/net/lib/lwm2m/ipso_onoff_switch.c
index 4889f0fe8c9..5bad062f1e3 100644
--- a/subsys/net/lib/lwm2m/ipso_onoff_switch.c
+++ b/subsys/net/lib/lwm2m/ipso_onoff_switch.c
@@ -21,6 +21,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define SWITCH_VERSION_MAJOR 1
+#define SWITCH_VERSION_MINOR 0
+
 #ifdef CONFIG_LWM2M_IPSO_ONOFF_SWITCH_TIMESTAMP
 #define ADD_TIMESTAMPS 1
 #else
@@ -243,6 +246,9 @@ static struct lwm2m_engine_obj_inst *switch_create(uint16_t obj_inst_id)
 static int ipso_switch_init(const struct device *dev)
 {
 	onoff_switch.obj_id = IPSO_OBJECT_ONOFF_SWITCH_ID;
+	onoff_switch.version_major = SWITCH_VERSION_MAJOR;
+	onoff_switch.version_minor = SWITCH_VERSION_MINOR;
+	onoff_switch.is_core = false;
 	onoff_switch.fields = fields;
 	onoff_switch.field_count = ARRAY_SIZE(fields);
 	onoff_switch.max_instance_count = ARRAY_SIZE(inst);
diff --git a/subsys/net/lib/lwm2m/ipso_pressure_sensor.c b/subsys/net/lib/lwm2m/ipso_pressure_sensor.c
index 1c5ca10e990..f9a4c89a8e7 100644
--- a/subsys/net/lib/lwm2m/ipso_pressure_sensor.c
+++ b/subsys/net/lib/lwm2m/ipso_pressure_sensor.c
@@ -19,6 +19,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_engine.h"
 #include "lwm2m_resource_ids.h"
 
+#define PRESSURE_VERSION_MAJOR 1
+#define PRESSURE_VERSION_MINOR 0
+
 #ifdef CONFIG_LWM2M_IPSO_PRESSURE_SENSOR_TIMESTAMP
 #define ADD_TIMESTAMPS 1
 #define NUMBER_OF_OBJ_FIELDS 8
@@ -219,6 +222,9 @@ pressure_sensor_create(uint16_t obj_inst_id)
 static int ipso_pressure_sensor_init(const struct device *dev)
 {
 	sensor.obj_id = IPSO_OBJECT_ID;
+	sensor.version_major = PRESSURE_VERSION_MAJOR;
+	sensor.version_minor = PRESSURE_VERSION_MINOR;
+	sensor.is_core = false;
 	sensor.fields = fields;
 	sensor.field_count = ARRAY_SIZE(fields);
 	sensor.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/ipso_push_button.c b/subsys/net/lib/lwm2m/ipso_push_button.c
index 52a2dcd8942..83eeb103d02 100644
--- a/subsys/net/lib/lwm2m/ipso_push_button.c
+++ b/subsys/net/lib/lwm2m/ipso_push_button.c
@@ -21,6 +21,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define BUTTON_VERSION_MAJOR 1
+#define BUTTON_VERSION_MINOR 0
+
 #ifdef CONFIG_LWM2M_IPSO_PUSH_BUTTON_TIMESTAMP
 #define ADD_TIMESTAMPS 1
 #else
@@ -169,6 +172,9 @@ static struct lwm2m_engine_obj_inst *button_create(uint16_t obj_inst_id)
 static int ipso_button_init(const struct device *dev)
 {
 	onoff_switch.obj_id = IPSO_OBJECT_PUSH_BUTTON_ID;
+	onoff_switch.version_major = BUTTON_VERSION_MAJOR;
+	onoff_switch.version_minor = BUTTON_VERSION_MINOR;
+	onoff_switch.is_core = false;
 	onoff_switch.fields = fields;
 	onoff_switch.field_count = ARRAY_SIZE(fields);
 	onoff_switch.max_instance_count = ARRAY_SIZE(inst);
diff --git a/subsys/net/lib/lwm2m/ipso_temp_sensor.c b/subsys/net/lib/lwm2m/ipso_temp_sensor.c
index 3d5ee5be843..3fd391e3d43 100644
--- a/subsys/net/lib/lwm2m/ipso_temp_sensor.c
+++ b/subsys/net/lib/lwm2m/ipso_temp_sensor.c
@@ -23,6 +23,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define TEMP_VERSION_MAJOR 1
+#define TEMP_VERSION_MINOR 0
+
 #ifdef CONFIG_LWM2M_IPSO_TEMP_SENSOR_TIMESTAMP
 #define ADD_TIMESTAMPS 1
 #else
@@ -236,6 +239,9 @@ static struct lwm2m_engine_obj_inst *temp_sensor_create(uint16_t obj_inst_id)
 static int ipso_temp_sensor_init(const struct device *dev)
 {
 	temp_sensor.obj_id = IPSO_OBJECT_TEMP_SENSOR_ID;
+	temp_sensor.version_major = TEMP_VERSION_MAJOR;
+	temp_sensor.version_minor = TEMP_VERSION_MINOR;
+	temp_sensor.is_core = false;
 	temp_sensor.fields = fields;
 	temp_sensor.field_count = ARRAY_SIZE(fields);
 	temp_sensor.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/ipso_timer.c b/subsys/net/lib/lwm2m/ipso_timer.c
index 407369c9b2b..f66b6229fa9 100644
--- a/subsys/net/lib/lwm2m/ipso_timer.c
+++ b/subsys/net/lib/lwm2m/ipso_timer.c
@@ -21,6 +21,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define TIMER_VERSION_MAJOR 1
+#define TIMER_VERSION_MINOR 0
+
 /* Server resource IDs */
 #define TIMER_DELAY_DURATION_ID		5521
 #define TIMER_REMAINING_TIME_ID		5538
@@ -386,6 +389,9 @@ static struct lwm2m_engine_obj_inst *timer_create(uint16_t obj_inst_id)
 static int ipso_timer_init(const struct device *dev)
 {
 	timer.obj_id = IPSO_OBJECT_TIMER_ID;
+	timer.version_major = TIMER_VERSION_MAJOR;
+	timer.version_minor = TIMER_VERSION_MINOR;
+	timer.is_core = false;
 	timer.fields = fields;
 	timer.field_count = ARRAY_SIZE(fields);
 	timer.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/lwm2m_engine.c b/subsys/net/lib/lwm2m/lwm2m_engine.c
index a75088f33d2..4e8a8aa8ed1 100644
--- a/subsys/net/lib/lwm2m/lwm2m_engine.c
+++ b/subsys/net/lib/lwm2m/lwm2m_engine.c
@@ -1094,8 +1094,11 @@ int lwm2m_register_payload_handler(struct lwm2m_message *msg)
 			continue;
 		}
 
-		/* Only report <OBJ_ID> when no instance available */
-		if (obj->instance_count == 0U) {
+		/* Only report <OBJ_ID> when no instance available or it's
+		 * needed to report object version.
+		 */
+		if (obj->instance_count == 0U ||
+		    lwm2m_engine_shall_report_obj_version(obj)) {
 			struct lwm2m_obj_path path = {
 				.obj_id = obj->obj_id,
 				.level = LWM2M_PATH_LEVEL_OBJECT,
@@ -1106,7 +1109,9 @@ int lwm2m_register_payload_handler(struct lwm2m_message *msg)
 				return ret;
 			}
 
-			continue;
+			if (obj->instance_count == 0U) {
+				continue;
+			}
 		}
 
 		SYS_SLIST_FOR_EACH_CONTAINER(&engine_obj_inst_list,
@@ -3263,11 +3268,13 @@ int lwm2m_discover_handler(struct lwm2m_message *msg, bool is_bootstrap)
 		}
 
 		/* For bootstrap discover, only report object ID when no
-		 * instance is available.
+		 * instance is available or it's needed to report object
+		 * version.
 		 * For device management discovery, only report object ID with
 		 * attributes if object ID (alone) was provided.
 		 */
-		if ((is_bootstrap && obj->instance_count == 0U) ||
+		if ((is_bootstrap && (obj->instance_count == 0U ||
+				      lwm2m_engine_shall_report_obj_version(obj))) ||
 		    (!is_bootstrap && msg->path.level == LWM2M_PATH_LEVEL_OBJECT)) {
 			struct lwm2m_obj_path path = {
 				.obj_id = obj->obj_id,
@@ -3281,7 +3288,7 @@ int lwm2m_discover_handler(struct lwm2m_message *msg, bool is_bootstrap)
 
 			reported = true;
 
-			if (is_bootstrap) {
+			if (obj->instance_count == 0U) {
 				continue;
 			}
 		}
@@ -3434,6 +3441,16 @@ struct lwm2m_engine_res *lwm2m_engine_get_res(
 	return res;
 }
 
+bool lwm2m_engine_shall_report_obj_version(const struct lwm2m_engine_obj *obj)
+{
+	if (obj->is_core) {
+		return obj->version_major != LWM2M_PROTOCOL_VERSION_MAJOR ||
+		       obj->version_minor != LWM2M_PROTOCOL_VERSION_MINOR;
+	}
+
+	return obj->version_major != 1 || obj->version_minor != 0;
+}
+
 static int do_write_op(struct lwm2m_message *msg,
 		       uint16_t format)
 {
diff --git a/subsys/net/lib/lwm2m/lwm2m_engine.h b/subsys/net/lib/lwm2m/lwm2m_engine.h
index 46ab089f813..81e31c4b082 100644
--- a/subsys/net/lib/lwm2m/lwm2m_engine.h
+++ b/subsys/net/lib/lwm2m/lwm2m_engine.h
@@ -10,7 +10,12 @@
 
 #include "lwm2m_object.h"
 
-#define LWM2M_PROTOCOL_VERSION "1.0"
+#define LWM2M_PROTOCOL_VERSION_MAJOR 1
+#define LWM2M_PROTOCOL_VERSION_MINOR 0
+
+#define LWM2M_PROTOCOL_VERSION_STRING STRINGIFY(LWM2M_PROTOCOL_VERSION_MAJOR) \
+				      "." \
+				      STRINGIFY(LWM2M_PROTOCOL_VERSION_MINOR)
 
 /* LWM2M / CoAP Content-Formats */
 #define LWM2M_FORMAT_PLAIN_TEXT		0
@@ -72,6 +77,8 @@ struct lwm2m_engine_obj_inst *lwm2m_engine_get_obj_inst(
 struct lwm2m_engine_res *lwm2m_engine_get_res(
 					const struct lwm2m_obj_path *path);
 
+bool lwm2m_engine_shall_report_obj_version(const struct lwm2m_engine_obj *obj);
+
 /* LwM2M context functions */
 int lwm2m_engine_context_close(struct lwm2m_ctx *client_ctx);
 void lwm2m_engine_context_init(struct lwm2m_ctx *client_ctx);
diff --git a/subsys/net/lib/lwm2m/lwm2m_obj_connmon.c b/subsys/net/lib/lwm2m/lwm2m_obj_connmon.c
index f24ef823732..a0be3b04617 100644
--- a/subsys/net/lib/lwm2m/lwm2m_obj_connmon.c
+++ b/subsys/net/lib/lwm2m/lwm2m_obj_connmon.c
@@ -18,6 +18,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define CONNMON_VERSION_MAJOR 1
+#define CONNMON_VERSION_MINOR 0
+
 /* Connectivity Monitoring resource IDs */
 #define CONNMON_NETWORK_BEARER_ID		0
 #define CONNMON_AVAIL_NETWORK_BEARER_ID		1
@@ -148,6 +151,9 @@ static int lwm2m_connmon_init(const struct device *dev)
 
 	/* initialize the Connection Monitoring field data */
 	connmon.obj_id = LWM2M_OBJECT_CONNECTIVITY_MONITORING_ID;
+	connmon.version_major = CONNMON_VERSION_MAJOR;
+	connmon.version_minor = CONNMON_VERSION_MINOR;
+	connmon.is_core = true;
 	connmon.fields = fields;
 	connmon.field_count = ARRAY_SIZE(fields);
 	connmon.max_instance_count = 1U;
diff --git a/subsys/net/lib/lwm2m/lwm2m_obj_device.c b/subsys/net/lib/lwm2m/lwm2m_obj_device.c
index f3b45aabf07..1dc3e56e13f 100644
--- a/subsys/net/lib/lwm2m/lwm2m_obj_device.c
+++ b/subsys/net/lib/lwm2m/lwm2m_obj_device.c
@@ -23,6 +23,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define DEVICE_VERSION_MAJOR 1
+#define DEVICE_VERSION_MINOR 0
+
 /* Device resource IDs */
 #define DEVICE_MANUFACTURER_ID			0
 #define DEVICE_MODEL_NUMBER_ID			1
@@ -260,6 +263,9 @@ static int lwm2m_device_init(const struct device *dev)
 
 	/* initialize the device field data */
 	device.obj_id = LWM2M_OBJECT_DEVICE_ID;
+	device.version_major = DEVICE_VERSION_MAJOR;
+	device.version_minor = DEVICE_VERSION_MINOR;
+	device.is_core = true;
 	device.fields = fields;
 	device.field_count = ARRAY_SIZE(fields);
 	device.max_instance_count = 1U;
diff --git a/subsys/net/lib/lwm2m/lwm2m_obj_firmware.c b/subsys/net/lib/lwm2m/lwm2m_obj_firmware.c
index aec3f92e48f..b0fb1463cf6 100644
--- a/subsys/net/lib/lwm2m/lwm2m_obj_firmware.c
+++ b/subsys/net/lib/lwm2m/lwm2m_obj_firmware.c
@@ -17,6 +17,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define FIRMWARE_VERSION_MAJOR 1
+#define FIRMWARE_VERSION_MINOR 0
+
 /* Firmware resource IDs */
 #define FIRMWARE_PACKAGE_ID			0
 #define FIRMWARE_PACKAGE_URI_ID			1
@@ -357,6 +360,9 @@ static int lwm2m_firmware_init(const struct device *dev)
 #endif
 
 	firmware.obj_id = LWM2M_OBJECT_FIRMWARE_ID;
+	firmware.version_major = FIRMWARE_VERSION_MAJOR;
+	firmware.version_minor = FIRMWARE_VERSION_MINOR;
+	firmware.is_core = true;
 	firmware.fields = fields;
 	firmware.field_count = ARRAY_SIZE(fields);
 	firmware.max_instance_count = 1U;
diff --git a/subsys/net/lib/lwm2m/lwm2m_obj_location.c b/subsys/net/lib/lwm2m/lwm2m_obj_location.c
index 12982fee97d..848a94b5cc3 100644
--- a/subsys/net/lib/lwm2m/lwm2m_obj_location.c
+++ b/subsys/net/lib/lwm2m/lwm2m_obj_location.c
@@ -16,6 +16,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define LOCATION_VERSION_MAJOR 1
+#define LOCATION_VERSION_MINOR 0
+
 /* resource IDs */
 #define LOCATION_LATITUDE_ID			0
 #define LOCATION_LONGITUDE_ID			1
@@ -96,6 +99,9 @@ static int ipso_location_init(const struct device *dev)
 	struct lwm2m_engine_obj_inst *obj_inst = NULL;
 
 	location.obj_id = LWM2M_OBJECT_LOCATION_ID;
+	location.version_major = LOCATION_VERSION_MAJOR;
+	location.version_minor = LOCATION_VERSION_MINOR;
+	location.is_core = true;
 	location.fields = fields;
 	location.field_count = ARRAY_SIZE(fields);
 	location.max_instance_count = 1U;
diff --git a/subsys/net/lib/lwm2m/lwm2m_obj_security.c b/subsys/net/lib/lwm2m/lwm2m_obj_security.c
index b3b69c5fa8b..5a54acdeefc 100644
--- a/subsys/net/lib/lwm2m/lwm2m_obj_security.c
+++ b/subsys/net/lib/lwm2m/lwm2m_obj_security.c
@@ -17,6 +17,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_object.h"
 #include "lwm2m_engine.h"
 
+#define SECURITY_VERSION_MAJOR 1
+#define SECURITY_VERSION_MINOR 0
+
 /* Security resource IDs */
 #define SECURITY_SERVER_URI_ID			0
 #define SECURITY_BOOTSTRAP_FLAG_ID		1
@@ -176,6 +179,9 @@ static int lwm2m_security_init(const struct device *dev)
 	int ret = 0;
 
 	security.obj_id = LWM2M_OBJECT_SECURITY_ID;
+	security.version_major = SECURITY_VERSION_MAJOR;
+	security.version_minor = SECURITY_VERSION_MINOR;
+	security.is_core = true;
 	security.fields = fields;
 	security.field_count = ARRAY_SIZE(fields);
 	security.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/lwm2m_obj_server.c b/subsys/net/lib/lwm2m/lwm2m_obj_server.c
index 8dc891ab687..e50acf23cf6 100644
--- a/subsys/net/lib/lwm2m/lwm2m_obj_server.c
+++ b/subsys/net/lib/lwm2m/lwm2m_obj_server.c
@@ -20,6 +20,9 @@ LOG_MODULE_REGISTER(LOG_MODULE_NAME);
 #include "lwm2m_rd_client.h"
 #endif
 
+#define SERVER_VERSION_MAJOR 1
+#define SERVER_VERSION_MINOR 0
+
 /* Server resource IDs */
 #define SERVER_SHORT_SERVER_ID		0
 #define SERVER_LIFETIME_ID		1
@@ -250,6 +253,9 @@ static int lwm2m_server_init(const struct device *dev)
 	int ret = 0;
 
 	server.obj_id = LWM2M_OBJECT_SERVER_ID;
+	server.version_major = SERVER_VERSION_MAJOR;
+	server.version_minor = SERVER_VERSION_MINOR;
+	server.is_core = true;
 	server.fields = fields;
 	server.field_count = ARRAY_SIZE(fields);
 	server.max_instance_count = MAX_INSTANCE_COUNT;
diff --git a/subsys/net/lib/lwm2m/lwm2m_object.h b/subsys/net/lib/lwm2m/lwm2m_object.h
index d4a9a93a5f0..b8c2004b578 100644
--- a/subsys/net/lib/lwm2m/lwm2m_object.h
+++ b/subsys/net/lib/lwm2m/lwm2m_object.h
@@ -198,6 +198,13 @@ struct lwm2m_engine_obj {
 	uint16_t field_count;
 	uint16_t instance_count;
 	uint16_t max_instance_count;
+
+	/* Object version information. */
+	uint8_t version_major;
+	uint8_t version_minor;
+
+	/* Object is a core object (defined in the official LwM2M spec.) */
+	bool is_core : 1;
 };
 
 /* Resource instances with this value are considered "not created" yet */
diff --git a/subsys/net/lib/lwm2m/lwm2m_rd_client.c b/subsys/net/lib/lwm2m/lwm2m_rd_client.c
index 2f11a5626c9..abdf6960859 100644
--- a/subsys/net/lib/lwm2m/lwm2m_rd_client.c
+++ b/subsys/net/lib/lwm2m/lwm2m_rd_client.c
@@ -714,7 +714,7 @@ static int sm_send_registration(bool send_obj_support_data,
 
 	if (!sm_is_registered()) {
 		snprintk(query_buffer, sizeof(query_buffer) - 1,
-			"lwm2m=%s", LWM2M_PROTOCOL_VERSION);
+			"lwm2m=%s", LWM2M_PROTOCOL_VERSION_STRING);
 		ret = coap_packet_append_option(
 			&msg->cpkt, COAP_OPTION_URI_QUERY,
 			query_buffer, strlen(query_buffer));
diff --git a/subsys/net/lib/lwm2m/lwm2m_rw_link_format.c b/subsys/net/lib/lwm2m/lwm2m_rw_link_format.c
index d0b67c527a7..f90b11076f0 100644
--- a/subsys/net/lib/lwm2m/lwm2m_rw_link_format.c
+++ b/subsys/net/lib/lwm2m/lwm2m_rw_link_format.c
@@ -14,7 +14,7 @@ LOG_MODULE_REGISTER(net_lwm2m_link_format, CONFIG_LWM2M_LOG_LEVEL);
 
 #define CORELINK_BUF_SIZE 24
 
-#define ENABLER_VERSION "lwm2m=\"" LWM2M_PROTOCOL_VERSION "\""
+#define ENABLER_VERSION "lwm2m=\"" LWM2M_PROTOCOL_VERSION_STRING "\""
 
 /*
  * TODO: to implement a way for clients to specify alternate path
@@ -105,6 +105,26 @@ static int put_corelink_separator(struct lwm2m_output_context *out)
 	return (int)sizeof(comma);
 }
 
+static int put_corelink_version(struct lwm2m_output_context *out,
+				const struct lwm2m_engine_obj *obj,
+				uint8_t *buf, uint16_t buflen)
+{
+	int ret, len;
+
+	len = snprintk(buf, buflen, ";ver=%u.%u", obj->version_major,
+		       obj->version_minor);
+	if (len < 0 || len >= buflen) {
+		return -ENOMEM;
+	}
+
+	ret = buf_append(CPKT_BUF_WRITE(out->out_cpkt), buf, len);
+	if (ret < 0) {
+		return ret;
+	}
+
+	return len;
+}
+
 static int put_corelink_dimension(struct lwm2m_output_context *out,
 				  const struct lwm2m_engine_res *res,
 				  uint8_t *buf, uint16_t buflen)
@@ -264,6 +284,7 @@ static int put_obj_corelink(struct lwm2m_output_context *out,
 			    struct link_format_out_formatter_data *fd)
 {
 	char obj_buf[CORELINK_BUF_SIZE];
+	struct lwm2m_engine_obj *obj;
 	int len = 0;
 	int ret;
 
@@ -279,16 +300,24 @@ static int put_obj_corelink(struct lwm2m_output_context *out,
 		return ret;
 	}
 
+	obj = lwm2m_engine_get_obj(path);
+	if (obj == NULL) {
+		return -EINVAL;
+	}
+
+	if (lwm2m_engine_shall_report_obj_version(obj)) {
+		ret = put_corelink_version(out, obj, obj_buf, sizeof(obj_buf));
+		if (ret < 0) {
+			return ret;
+		}
+
+		len += ret;
+	}
+
 	if (fd->mode == LINK_FORMAT_MODE_DISCOVERY) {
 		/* Report object attributes only in device management mode
 		 * (5.4.2).
 		 */
-		struct lwm2m_engine_obj *obj = lwm2m_engine_get_obj(path);
-
-		if (obj == NULL) {
-			return -EINVAL;
-		}
-
 		ret = put_corelink_attributes(out, obj, obj_buf,
 					      sizeof(obj_buf));
 		if (ret < 0) {