diff --git a/docs/usage/nuget.md b/docs/usage/nuget.md
index 53739b42d26f66..d2da302a5dbf96 100644
--- a/docs/usage/nuget.md
+++ b/docs/usage/nuget.md
@@ -20,7 +20,7 @@ To convert your .NET Framework `.csproj`/`.fsproj`/`.vbproj` into an SDK-style p
 ## How It Works
 
 1.  Renovate will search each repository for any files with a `.csproj`, `.fsproj`, or `.vbproj` extension.
-2.  Existing dependencies will be extracted from `<PackageReference>` tags
+2.  Existing dependencies will be extracted from `<PackageReference>` and `<PackageVersion>` tags
 3.  Renovate will look up the latest version on [nuget.org](https://nuget.org) (or on [alternate feeds](#Alternate%20feeds)) to determine if any upgrades are available
 4.  If the source package includes a GitHub URL as its source, and has either a "changelog" file or uses GitHub releases, then Release Notes for each version will be embedded in the generated PR.
 
diff --git a/lib/manager/nuget/__fixtures__/with-centralized-package-versions/Directory.Packages.props b/lib/manager/nuget/__fixtures__/with-centralized-package-versions/Directory.Packages.props
new file mode 100644
index 00000000000000..9ea11844c56038
--- /dev/null
+++ b/lib/manager/nuget/__fixtures__/with-centralized-package-versions/Directory.Packages.props
@@ -0,0 +1,5 @@
+<Project>
+  <ItemGroup>
+    <PackageVersion Include="Autofac" Version="4.5.0" />
+  </ItemGroup>
+</Project>
diff --git a/lib/manager/nuget/__snapshots__/extract.spec.ts.snap b/lib/manager/nuget/__snapshots__/extract.spec.ts.snap
index a43c2df0d522a1..973804c3fb56a4 100644
--- a/lib/manager/nuget/__snapshots__/extract.spec.ts.snap
+++ b/lib/manager/nuget/__snapshots__/extract.spec.ts.snap
@@ -183,6 +183,17 @@ Array [
 ]
 `;
 
+exports[`lib/manager/nuget/extract extractPackageFile() extracts package version dependency 1`] = `
+Array [
+  Object {
+    "currentValue": "4.5.0",
+    "datasource": "nuget",
+    "depName": "Autofac",
+    "depType": "nuget",
+  },
+]
+`;
+
 exports[`lib/manager/nuget/extract extractPackageFile() extracts registry URLs independently 1`] = `
 Object {
   "deps": Array [
diff --git a/lib/manager/nuget/extract.spec.ts b/lib/manager/nuget/extract.spec.ts
index dc5a8477b9514c..87b4968b5af462 100644
--- a/lib/manager/nuget/extract.spec.ts
+++ b/lib/manager/nuget/extract.spec.ts
@@ -16,6 +16,16 @@ describe('lib/manager/nuget/extract', () => {
         await extractPackageFile('nothing here', 'bogus', config)
       ).toMatchSnapshot();
     });
+    it('extracts package version dependency', async () => {
+      const packageFile =
+        'with-centralized-package-versions/Directory.Packages.props';
+      const sample = readFileSync(
+        path.join(config.localDir, packageFile),
+        'utf8'
+      );
+      const res = await extractPackageFile(sample, packageFile, config);
+      expect(res.deps).toMatchSnapshot();
+    });
     it('extracts all dependencies', async () => {
       const packageFile = 'sample.csproj';
       const sample = readFileSync(
diff --git a/lib/manager/nuget/extract.ts b/lib/manager/nuget/extract.ts
index 2a54f003f26474..43a9c2bf768f69 100644
--- a/lib/manager/nuget/extract.ts
+++ b/lib/manager/nuget/extract.ts
@@ -27,6 +27,7 @@ function extractDepsFromXml(xmlNode: XmlDocument): PackageDependency[] {
   for (const itemGroup of itemGroups) {
     const relevantChildren = [
       ...itemGroup.childrenNamed('PackageReference'),
+      ...itemGroup.childrenNamed('PackageVersion'),
       ...itemGroup.childrenNamed('DotNetCliToolReference'),
       ...itemGroup.childrenNamed('GlobalPackageReference'),
     ];