iOS 4.3 will be released at 6pm GMT today, reports say, bringing faster web browsing, improved AirPlay and the ability to set up an iPhone 4 as a Wi-Fi hotspot.
According to BGR, the upgraded mobile operating system will be publicly available later today from iTunes.
iOS 4.3 was announced at the iPad 2 launch last week, and if this happens, then the new version of the mobile OS will come out just in time for the US shipment of the next iPad for 11 March.
AirPlay will now allow all iPad apps to push video and photos out to any AirPlay ready device.
Users will be able to access their iTunes content through Wi-Fi on a Home Sharing feature and the iPhone 4 will operate like a mobile hotspot, giving internet connectivity to other devices around it.
It will also support the new Photo Booth app, also announced at the iPad 2 launch.