diff --git a/mypy-requirements.txt b/mypy-requirements.txt
index e7e2af80089b..784cc81f3ec1 100644
--- a/mypy-requirements.txt
+++ b/mypy-requirements.txt
@@ -1,4 +1,4 @@
 typing_extensions>=3.7.4
 mypy_extensions>=0.4.3,<0.5.0
 typed_ast>=1.4.0,<1.5.0
-tomli<2.0.0
+tomli>=1.1.0,<2.0.0
diff --git a/mypy/config_parser.py b/mypy/config_parser.py
index d5552186ecc7..98b2aedd69f9 100644
--- a/mypy/config_parser.py
+++ b/mypy/config_parser.py
@@ -168,7 +168,7 @@ def parse_config_file(options: Options, set_strict_flags: Callable[[], None],
             continue
         try:
             if is_toml(config_file):
-                with open(config_file, encoding="utf-8") as f:
+                with open(config_file, 'rb') as f:
                     toml_data = tomli.load(f)
                 # Filter down to just mypy relevant toml keys
                 toml_data = toml_data.get('tool', {})
diff --git a/mypy/modulefinder.py b/mypy/modulefinder.py
index 6cebd7db8bc0..e8a748bab12b 100644
--- a/mypy/modulefinder.py
+++ b/mypy/modulefinder.py
@@ -434,7 +434,7 @@ def _is_compatible_stub_package(self, stub_dir: str) -> bool:
         if os.path.isfile(metadata_fnam):
             # Delay import for a possible minor performance win.
             import tomli
-            with open(metadata_fnam, 'r', encoding="utf-8") as f:
+            with open(metadata_fnam, 'rb') as f:
                 metadata = tomli.load(f)
             if self.python_major_ver == 2:
                 return bool(metadata.get('python2', False))
diff --git a/setup.py b/setup.py
index 50974068a84c..10c70d4ffc42 100644
--- a/setup.py
+++ b/setup.py
@@ -193,7 +193,7 @@ def run(self):
       install_requires=["typed_ast >= 1.4.0, < 1.5.0; python_version<'3.8'",
                         'typing_extensions>=3.7.4',
                         'mypy_extensions >= 0.4.3, < 0.5.0',
-                        'tomli<2.0.0',
+                        'tomli >= 1.1.0, < 2.0.0',
                         ],
       # Same here.
       extras_require={'dmypy': 'psutil >= 4.0', 'python2': 'typed_ast >= 1.4.0, < 1.5.0'},