diff --git a/web3.js/package.json b/web3.js/package.json
index 84240446e258d7..03c5634efe8d06 100644
--- a/web3.js/package.json
+++ b/web3.js/package.json
@@ -91,7 +91,7 @@
     "@rollup/plugin-multi-entry": "^4.0.0",
     "@rollup/plugin-node-resolve": "^13.0.0",
     "@rollup/plugin-replace": "^4.0.0",
-    "@solana/spl-token": "^0.2.0",
+    "@solana/spl-token": "^0.3.0",
     "@types/bn.js": "^5.1.0",
     "@types/bs58": "^4.0.1",
     "@types/chai": "^4.2.15",