Synaptic plasticity is believed to be a key physiological mechanism for learning. It is well established that it depends on pre- and postsynaptic activity. However, models that rely solely on pre- and postsynaptic activity for synaptic changes have, so far, not been able to account for learning complex tasks that demand credit assignment in hierarchical networks. Here we show that if synaptic plasticity is regulated by high-frequency bursts of spikes, then pyramidal neurons higher in a hierarchical circuit can coordinate the plasticity of lower-level connections. Using simulations and mathematical analyses, we demonstrate that, when paired with short-term synaptic dynamics, regenerative activity in the apical dendrites and synaptic plasticity in feedback pathways, a burst-dependent learning rule can solve challenging tasks that require deep network architectures. Our results demonstrate that well-known properties of dendrites, synapses and synaptic plasticity are sufficient to enable sophisticated learning in hierarchical circuits.