Next basket prediction attempts to provide sequential recommendations to users based on a sequence of the user’s previous purchases. Ideally, a good prediction model should be able to explore the personalized preference of the users, as well as the sequential relations of the items. This goal of modeling becomes even more challenging when both factors are time-dependent. However, existing methods either take these two aspects as static, or only consider temporal dynamics for one of the two aspects. In this work, we propose the dynamic representation leing approach for time-dependent next basket recommendation, which jointly models the dynamic nature of user preferences and item relations. To do so, we explicitly model the transaction timestamps, as well as the dynamic representations of both users and items, so as to capture the personalized user preference on each individual item dynamically. Experiments on three real-world retail datasets show that our method significantly outperforms several state-of-the-art methods for next basket recommendation.