diff --git a/cmake/toolchain/espressif/generic.cmake b/cmake/toolchain/espressif/generic.cmake
index d418a2add89..0ec5424be83 100644
--- a/cmake/toolchain/espressif/generic.cmake
+++ b/cmake/toolchain/espressif/generic.cmake
@@ -10,23 +10,48 @@ set(COMPILER gcc)
 set(LINKER ld)
 set(BINTOOLS gnu)
 
+# find some toolchain
 file(GLOB toolchain_paths
   LIST_DIRECTORIES true
-  ${TOOLCHAIN_HOME}
+  ${TOOLCHAIN_HOME}/*-esp32*/*-elf
+  ${TOOLCHAIN_HOME}/*-esp*/*-elf
   )
 
-if(toolchain_paths)
-  list(GET toolchain_paths 0 soc_toolchain_path)
+# Old toolchain installation path has been deprecated in 2.7.
+# This code and related code depending on ESPRESSIF_DEPRECATED_PATH can be removed after two releases.
+if(NOT toolchain_paths)
+  # find some toolchain
+  file(GLOB toolchain_paths
+    LIST_DIRECTORIES true
+    ${TOOLCHAIN_HOME}
+    )
 
-  get_filename_component(soc_toolchain "${soc_toolchain_path}" NAME)
-
-  set(CROSS_COMPILE_TARGET ${soc_toolchain})
-  set(SYSROOT_TARGET       ${soc_toolchain})
+  set(ESPRESSIF_DEPRECATED_PATH TRUE)
 endif()
 
-set(CROSS_COMPILE ${TOOLCHAIN_HOME}/bin/${CROSS_COMPILE_TARGET}-)
-set(SYSROOT_DIR   ${TOOLCHAIN_HOME}/${SYSROOT_TARGET})
+if(toolchain_paths)
+  list(GET toolchain_paths 0 some_toolchain_path)
+
+  get_filename_component(one_toolchain_root "${some_toolchain_path}" DIRECTORY)
+  get_filename_component(one_toolchain "${some_toolchain_path}" NAME)
+
+  set(CROSS_COMPILE_TARGET ${one_toolchain})
+  set(SYSROOT_TARGET	   ${one_toolchain})
+
+  if(ESPRESSIF_DEPRECATED_PATH)
+    set(CROSS_COMPILE ${ESPRESSIF_TOOLCHAIN_PATH}/bin/${CROSS_COMPILE_TARGET}-)
+    set(SYSROOT_DIR   ${ESPRESSIF_TOOLCHAIN_PATH}/${SYSROOT_TARGET})
+  else()
+    set(CROSS_COMPILE ${one_toolchain_root}/bin/${CROSS_COMPILE_TARGET}-)
+    set(SYSROOT_DIR   ${one_toolchain_root}/${SYSROOT_TARGET})
+  endif()
+
+endif()
+
+if(NOT CROSS_COMPILE_TARGET)
+  message(FATAL_ERROR
+    "Unable to find toolchain in ${TOOLCHAIN_HOME} "
+    "Run `west espressif install` to download it. Then, export to path accordingly.")
+endif()
 
 set(TOOLCHAIN_HAS_NEWLIB ON CACHE BOOL "True if toolchain supports newlib")
-
-message(STATUS "Found toolchain: espressif (${ESPRESSIF_TOOLCHAIN_PATH})")
diff --git a/cmake/toolchain/espressif/target.cmake b/cmake/toolchain/espressif/target.cmake
index 5a1a0e51313..5245bf9d083 100644
--- a/cmake/toolchain/espressif/target.cmake
+++ b/cmake/toolchain/espressif/target.cmake
@@ -1,3 +1,29 @@
 # SPDX-License-Identifier: Apache-2.0
 
-# This file intentionally left blank.
+set_ifndef(ESPRESSIF_TOOLCHAIN_PATH "$ENV{ESPRESSIF_TOOLCHAIN_PATH}")
+set(       ESPRESSIF_TOOLCHAIN_PATH ${ESPRESSIF_TOOLCHAIN_PATH} CACHE PATH "")
+assert(    ESPRESSIF_TOOLCHAIN_PATH "ESPRESSIF_TOOLCHAIN_PATH is not set")
+
+set(COMPILER gcc)
+set(LINKER ld)
+set(BINTOOLS gnu)
+
+set(CROSS_COMPILE_TARGET_xtensa_esp32    xtensa-esp32-elf)
+set(CROSS_COMPILE_TARGET_xtensa_esp32s2  xtensa-esp32s2-elf)
+set(CROSS_COMPILE_TARGET_riscv_esp32c3   riscv32-esp-elf)
+
+set(CROSS_COMPILE_TARGET ${CROSS_COMPILE_TARGET_${ARCH}_${CONFIG_SOC}})
+set(SYSROOT_TARGET       ${CROSS_COMPILE_TARGET})
+
+if(ESPRESSIF_DEPRECATED_PATH)
+  set(TOOLCHAIN_HOME ${ESPRESSIF_TOOLCHAIN_PATH})
+else()
+  set(TOOLCHAIN_HOME ${ESPRESSIF_TOOLCHAIN_PATH}/${CROSS_COMPILE_TARGET})
+endif()
+
+set(CROSS_COMPILE ${TOOLCHAIN_HOME}/bin/${CROSS_COMPILE_TARGET}-)
+set(SYSROOT_DIR   ${TOOLCHAIN_HOME}/${SYSROOT_TARGET})
+
+set(TOOLCHAIN_HAS_NEWLIB ON CACHE BOOL "True if toolchain supports newlib")
+
+message(STATUS "Found toolchain: espressif (${ESPRESSIF_TOOLCHAIN_PATH})")
diff --git a/west.yml b/west.yml
index 400b113cc37..2db90413ad2 100644
--- a/west.yml
+++ b/west.yml
@@ -62,7 +62,7 @@ manifest:
       groups:
         - hal
     - name: hal_espressif
-      revision: 0d30edf01a41b2c12e6715ff909f81421e96127e
+      revision: 6cb37487b6ee42f96b4ba0d4719bb5759b098822
       path: modules/hal/espressif
       west-commands: west/west-commands.yml
       groups: