diff --git a/project/Dependencies.scala b/project/Dependencies.scala
index b8887e9969e..85bf7e643a7 100644
--- a/project/Dependencies.scala
+++ b/project/Dependencies.scala
@@ -29,7 +29,7 @@ object Dependencies {
   // https://github.com/real-logic/aeron/blob/1.x.y/build.gradle
   val agronaVersion = "1.19.2"
   val nettyVersion = "4.1.100.Final"
-  val protobufJavaVersion = "3.19.6"
+  val protobufJavaVersion = "3.20.3"
   val logbackVersion = "1.3.11"
 
   val jacksonCoreVersion = "2.14.3"