diff --git a/pkgs/development/python-modules/conda/0001-conda_exe.patch b/pkgs/development/python-modules/conda/0001-conda_exe.patch
new file mode 100644
index 0000000000000..12ea4bc5ab0dc
--- /dev/null
+++ b/pkgs/development/python-modules/conda/0001-conda_exe.patch
@@ -0,0 +1,51 @@
+--- a/conda/base/context.py
++++ b/conda/base/context.py
+@@ -754,7 +754,7 @@
+
+     @property
+     def conda_prefix(self):
+-        return abspath(sys.prefix)
++        return expand("~/.conda")
+
+     @property
+     @deprecated(
+@@ -787,28 +787,17 @@
+         The vars can refer to each other if necessary since the dict is ordered.
+         None means unset it.
+         """
+-        if context.dev:
+-            return {
+-                "CONDA_EXE": sys.executable,
+-                # do not confuse with os.path.join, we are joining paths with ; or : delimiters
+-                "PYTHONPATH": os.pathsep.join(
+-                    (CONDA_SOURCE_ROOT, os.environ.get("PYTHONPATH", ""))
+-                ),
+-                "_CE_M": "-m",
+-                "_CE_CONDA": "conda",
+-                "CONDA_PYTHON_EXE": sys.executable,
+-            }
+-        else:
+-            bin_dir = "Scripts" if on_win else "bin"
+-            exe = "conda.exe" if on_win else "conda"
+-            # I was going to use None to indicate a variable to unset, but that gets tricky with
+-            # error-on-undefined.
+-            return {
+-                "CONDA_EXE": os.path.join(sys.prefix, bin_dir, exe),
+-                "_CE_M": "",
+-                "_CE_CONDA": "",
+-                "CONDA_PYTHON_EXE": sys.executable,
+-            }
++        import sys
++        return {
++            "CONDA_EXE": sys.executable,
++            # do not confuse with os.path.join, we are joining paths with ; or : delimiters
++            "PYTHONPATH": os.pathsep.join(
++                [CONDA_SOURCE_ROOT, os.environ.get("PYTHONPATH", "")] + [path for path in sys.path if "site-packages" in path]
++            ),
++            "_CE_M": "-m",
++            "_CE_CONDA": "conda",
++            "CONDA_PYTHON_EXE": sys.executable,
++        }
+
+     @memoizedproperty
+     def channel_alias(self):
diff --git a/pkgs/development/python-modules/conda/default.nix b/pkgs/development/python-modules/conda/default.nix
index e6dbe10914e7c..e2ec8bd2d46ef 100644
--- a/pkgs/development/python-modules/conda/default.nix
+++ b/pkgs/development/python-modules/conda/default.nix
@@ -1,38 +1,83 @@
-{ lib
-, buildPythonPackage
-, pythonAtLeast
-, fetchPypi
-, pycosat
-, requests
-, ruamel-yaml
-, isPy3k
-, enum34
+{
+  lib,
+  buildPythonPackage,
+  pythonRelaxDepsHook,
+  hostPlatform,
+  fetchFromGitHub,
+  # build dependencies
+  hatchling,
+  hatch-vcs,
+  # runtime dependencies
+  archspec,
+  conda-libmamba-solver,
+  conda-package-handling,
+  distro,
+  jsonpatch,
+  packaging,
+  platformdirs,
+  pluggy,
+  pycosat,
+  requests,
+  ruamel-yaml,
+  tqdm,
+  truststore,
+  # runtime options
+  defaultEnvPath ? "~/.conda/envs", # default path to store conda environments
+  defaultPkgPath ? "~/.conda/pkgs", # default path to store download conda packages
 }:
-
-# Note: this installs conda as a library. The application cannot be used.
-# This is likely therefore NOT what you're looking for.
-
 buildPythonPackage rec {
   pname = "conda";
-  version = "4.3.16";
-  format = "setuptools";
+  version = "24.1.2";
+  pyproject = true;
 
-  # this is a very outdated version of conda that isn't compatible with python 3.10+
-  disabled = pythonAtLeast "3.10";
-
-  src = fetchPypi {
+  src = fetchFromGitHub {
     inherit pname version;
-    sha256 = "a91ef821343dea3ba9670f3d10b36c1ace4f4c36d70c175d8fc8886e94285953";
+    owner = "conda";
+    repo = "conda";
+    rev = version;
+    hash = "sha256-L/Y7Bb3R5YqXbjTN4CRPFnkgymVLrxuFmjVzpvt28dE=";
   };
 
-  propagatedBuildInputs = [ pycosat requests ruamel-yaml ] ++ lib.optional (!isPy3k) enum34;
+  nativeBuildInputs = [ pythonRelaxDepsHook ];
+
+  build-system = [
+    hatchling
+    hatch-vcs
+  ];
+
+  dependencies = [
+    archspec
+    conda-libmamba-solver
+    conda-package-handling
+    distro
+    jsonpatch
+    packaging
+    platformdirs
+    pluggy
+    pycosat
+    requests
+    ruamel-yaml
+    tqdm
+    truststore
+  ];
+
+  patches = [ ./0001-conda_exe.patch ];
+
+  makeWrapperArgs = [
+    "--set CONDA_EXE ${placeholder "out"}/bin/conda"
+    ''--set-default CONDA_ENVS_PATH "${defaultEnvPath}"''
+    ''--set-default CONDA_PKGS_DIRS "${defaultPkgPath}"''
+  ];
+
+  pythonImportsCheck = [ "conda" ];
 
-  # No tests
-  doCheck = false;
+  # menuinst is currently not packaged
+  pythonRemoveDeps = lib.optionals (!hostPlatform.isWindows) [ "menuinst" ];
 
   meta = {
     description = "OS-agnostic, system-level binary package manager";
     homepage = "https://github.com/conda/conda";
     license = lib.licenses.bsd3;
+    maintainers = [ lib.maintainers.ericthemagician ];
   };
 }