diff --git a/tools/test_idf_tools/test_idf_tools.py b/tools/test_idf_tools/test_idf_tools.py
index df5d1aa21..2a0bc4730 100755
--- a/tools/test_idf_tools/test_idf_tools.py
+++ b/tools/test_idf_tools/test_idf_tools.py
@@ -72,7 +72,7 @@ class TestUsage(unittest.TestCase):
             idf_tools.main(['list'])
         output = output_stream.getvalue()
 
-        xtensa_esp32_elf_version = 'esp-2020r1-8.2.0'
+        xtensa_esp32_elf_version = 'esp-2020r2-8.2.0'
         esp32ulp_version = '2.28.51-esp-20191205'
 
         self.assertIn('* xtensa-esp32-elf:', output)
diff --git a/tools/toolchain_versions.mk b/tools/toolchain_versions.mk
index 8cb979425..ba15d521c 100644
--- a/tools/toolchain_versions.mk
+++ b/tools/toolchain_versions.mk
@@ -1,6 +1,6 @@
-SUPPORTED_TOOLCHAIN_COMMIT_DESC = esp-2020r1
+SUPPORTED_TOOLCHAIN_COMMIT_DESC = esp-2020r2
 SUPPORTED_TOOLCHAIN_GCC_VERSIONS = 8.2.0
 
-CURRENT_TOOLCHAIN_COMMIT_DESC = esp-2020r1
-CURRENT_TOOLCHAIN_COMMIT_DESC_SHORT = esp-2020r1
+CURRENT_TOOLCHAIN_COMMIT_DESC = esp-2020r2
+CURRENT_TOOLCHAIN_COMMIT_DESC_SHORT = esp-2020r2
 CURRENT_TOOLCHAIN_GCC_VERSION = 8.2.0
diff --git a/tools/tools.json b/tools/tools.json
index 840a734e6..eb7a195fa 100644
--- a/tools/tools.json
+++ b/tools/tools.json
@@ -22,36 +22,36 @@
       "versions": [
         {
           "linux-amd64": {
-            "sha256": "b65ae41a675c866f5e11e3c452fc4b9cee3f39038d88435faa45308f50388c54",
-            "size": 85490835,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r1-linux-amd64.tar.gz"
+            "sha256": "6c73b9e9d252810a63ca5e94b497c6c09fb8c903fe9c477f385bdc2ab4d2187e",
+            "size": 85520229,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r2-linux-amd64.tar.gz"
           },
           "linux-armel": {
-            "sha256": "7cd03edf067b5da6acf333ddaf18ce8070db98876c01b1d8979702e63587fcb5",
-            "size": 83653607,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r1-linux-armel.tar.gz"
+            "sha256": "51dd318c4f2ac1fe2b206d029e1d2080c922107cc56e4a3802b1acafd7b436db",
+            "size": 83672167,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r2-linux-armel.tar.gz"
           },
           "linux-i686": {
-            "sha256": "19273eb069efb29cc1df129f667fc09571c8e6e0ffa1fc536fb8b5d14bd59d4b",
-            "size": 87449664,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r1-linux-i686.tar.gz"
+            "sha256": "a003c7bc9b9f0dd82170480aadd62c0586fc6e3d69119c637c957125164f40e5",
+            "size": 87467927,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r2-linux-i686.tar.gz"
           },
           "macos": {
-            "sha256": "a3ee69bbe23acb77242086d2445c62d6bf13dbd9abcdfd4b56acef0937051a12",
-            "size": 92170881,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r1-macos.tar.gz"
+            "sha256": "48b288e3e5c60623851616bf545b8e4fc5382dc980d6b9682373f11013fe5776",
+            "size": 92201363,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r2-macos.tar.gz"
           },
-          "name": "esp-2020r1-8.2.0",
+          "name": "esp-2020r2-8.2.0",
           "status": "recommended",
           "win32": {
-            "sha256": "5fbabd2b7c75f56ebe207061f56beb21aca32ef867b64e14e735065cf812cce4",
-            "size": 103877946,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r1-win32.zip"
+            "sha256": "f2ba6bdb1c4b2178955e5e7a204552bb754709e02eaf9d8febe770d46629db8f",
+            "size": 103885422,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r2-win32.zip"
           },
           "win64": {
-            "sha256": "5fbabd2b7c75f56ebe207061f56beb21aca32ef867b64e14e735065cf812cce4",
-            "size": 103877946,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r1-win32.zip"
+            "sha256": "036ae8c737e7a4ced7121881f10747cf7b18914648ef611c78b3d543a0f00d8f",
+            "size": 106505186,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32-elf-gcc8_2_0-esp-2020r2-win64.zip"
           }
         }
       ]
@@ -78,36 +78,36 @@
       "versions": [
         {
           "linux-amd64": {
-            "sha256": "f435159a654dbfd8ccc9f89a16d5ce523ebd9e04ae48d95bf4935d15ac7bd058",
-            "size": 85781628,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r1-linux-amd64.tar.gz"
+            "sha256": "f5efd18a96f773b73bd6bcdee4476b5e4fbccea6befe0cb62c08675e4c68a65f",
+            "size": 85796525,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r2-linux-amd64.tar.gz"
           },
           "linux-armel": {
-            "sha256": "38081688e3d6d21b436adca9c790d8cdc9dd4dbd9e1a9c98262ea6b04639f8c1",
-            "size": 84055798,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r1-linux-armel.tar.gz"
+            "sha256": "40ed8c365a3e32643c7fc9cf44908fb166d3acc52754ebf0b03e82122a0ecd2c",
+            "size": 84041933,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r2-linux-armel.tar.gz"
           },
           "linux-i686": {
-            "sha256": "38b685c3243ab991dd9112ef330ba1fa1a176ab68a6aca832a0fc76975b8916f",
-            "size": 87764133,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r1-linux-i686.tar.gz"
+            "sha256": "53e8b9d38c409a207685b615924eada2ee9719ac4fe8c79caa7a89c788a65a7d",
+            "size": 87773410,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r2-linux-i686.tar.gz"
           },
           "macos": {
-            "sha256": "f6ec427699930ccd17d730fb5bcb0daa2283bee83e0987cade45d8f0e1f6f544",
-            "size": 92539826,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r1-macos.tar.gz"
+            "sha256": "76d17b170e667b73dbb013e8efa8032b18d9e68f6e364745639e851d99ad68a3",
+            "size": 92562690,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r2-macos.tar.gz"
           },
-          "name": "esp-2020r1-8.2.0",
+          "name": "esp-2020r2-8.2.0",
           "status": "recommended",
           "win32": {
-            "sha256": "a73a5b61510e730d7d0e46584f146a190b19627117e7657c92dccbedbf55ad68",
-            "size": 104292272,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r1-win32.zip"
+            "sha256": "e7fe06fc37f1046765653ec1ed571f06a86a5b5cde7b3a0ab71c44232c5b6a2f",
+            "size": 104302935,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r2-win32.zip"
           },
           "win64": {
-            "sha256": "a73a5b61510e730d7d0e46584f146a190b19627117e7657c92dccbedbf55ad68",
-            "size": 104292272,
-            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r1-win32.zip"
+            "sha256": "56b450ab9fa6c10e2d7defbf903af9c1594e9b86fece89faf5071d6461e07111",
+            "size": 106864587,
+            "url": "https://dl.espressif.com/dl/xtensa-esp32s2-elf-gcc8_2_0-esp-2020r2-win64.zip"
           }
         }
       ]
diff --git a/tools/windows/windows_install_prerequisites.sh b/tools/windows/windows_install_prerequisites.sh
index 4d0451ae1..c16995fe4 100644
--- a/tools/windows/windows_install_prerequisites.sh
+++ b/tools/windows/windows_install_prerequisites.sh
@@ -42,7 +42,7 @@ if [ -n "$IDF_PATH" ]; then
 fi
 
 # Automatically download precompiled toolchain, unpack at /opt/xtensa-esp32-elf/
-TOOLCHAIN_ZIP=xtensa-esp32-elf-gcc8_2_0-esp-2020r1-win32.zip
+TOOLCHAIN_ZIP=xtensa-esp32-elf-gcc8_2_0-esp-2020r2-win32.zip
 echo "Downloading precompiled toolchain ${TOOLCHAIN_ZIP}..."
 cd ~
 curl -LO --retry 10 https://dl.espressif.com/dl/${TOOLCHAIN_ZIP}