diff --git a/eng/Version.Details.xml b/eng/Version.Details.xml
index 590304ba83d72..f10fe895f5bb0 100644
--- a/eng/Version.Details.xml
+++ b/eng/Version.Details.xml
@@ -1,16 +1,16 @@
 <Dependencies>
   <ProductDependencies>
-    <Dependency Name="Microsoft.NETCore.Runtime.ICU.Transport" Version="7.0.0-preview.3.22157.1">
+    <Dependency Name="Microsoft.NETCore.Runtime.ICU.Transport" Version="7.0.0-preview.3.22121.1">
       <Uri>https://github.com/dotnet/icu</Uri>
-      <Sha>5416401e2e54d6ce9bef7f0c4a5fe25088c42652</Sha>
+      <Sha>d3c9d26f8e787253536d38504d3ac9e307573bfb</Sha>
     </Dependency>
     <Dependency Name="System.Net.MsQuic.Transport" Version="7.0.0-alpha.1.22160.2">
       <Uri>https://github.com/dotnet/msquic</Uri>
       <Sha>4fe73fcad4b0af91cc49fd1f5576f0111f15f6fd</Sha>
     </Dependency>
-    <Dependency Name="Microsoft.NET.Workload.Emscripten.Manifest-7.0.100" Version="7.0.0-preview.3.22167.1">
+    <Dependency Name="Microsoft.NET.Workload.Emscripten.Manifest-7.0.100" Version="7.0.0-preview.3.22121.1">
       <Uri>https://github.com/dotnet/emsdk</Uri>
-      <Sha>d2be7d0bf644d9608bf8180d706483238d85f13a</Sha>
+      <Sha>b8e71431b3eaa024afad7886699f8ac6bca2ba01</Sha>
     </Dependency>
     <Dependency Name="System.ServiceModel.Primitives" Version="4.9.0-rc2.21473.1">
       <Uri>https://github.com/dotnet/wcf</Uri>
diff --git a/eng/Versions.props b/eng/Versions.props
index d28e349173db3..5634c8a7d7a41 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -172,7 +172,7 @@
     <MicrosoftNETILLinkTasksVersion>7.0.100-1.22160.1</MicrosoftNETILLinkTasksVersion>
     <MicrosoftNETILLinkAnalyzerPackageVersion>$(MicrosoftNETILLinkTasksVersion)</MicrosoftNETILLinkAnalyzerPackageVersion>
     <!-- ICU -->
-    <MicrosoftNETCoreRuntimeICUTransportVersion>7.0.0-preview.3.22157.1</MicrosoftNETCoreRuntimeICUTransportVersion>
+    <MicrosoftNETCoreRuntimeICUTransportVersion>7.0.0-preview.3.22121.1</MicrosoftNETCoreRuntimeICUTransportVersion>
     <!-- MsQuic -->
     <SystemNetMsQuicTransportVersion>7.0.0-alpha.1.22160.2</SystemNetMsQuicTransportVersion>
     <!-- Mono LLVM -->
@@ -185,7 +185,7 @@
     <runtimeosx1012x64MicrosoftNETCoreRuntimeMonoLLVMSdkVersion>11.1.0-alpha.1.22164.2</runtimeosx1012x64MicrosoftNETCoreRuntimeMonoLLVMSdkVersion>
     <runtimeosx1012x64MicrosoftNETCoreRuntimeMonoLLVMToolsVersion>11.1.0-alpha.1.22164.2</runtimeosx1012x64MicrosoftNETCoreRuntimeMonoLLVMToolsVersion>
     <!-- emscripten / Node -->
-    <MicrosoftNETWorkloadEmscriptenManifest70100Version>7.0.0-preview.3.22167.1</MicrosoftNETWorkloadEmscriptenManifest70100Version>
+    <MicrosoftNETWorkloadEmscriptenManifest70100Version>7.0.0-preview.3.22121.1</MicrosoftNETWorkloadEmscriptenManifest70100Version>
     <MicrosoftNETRuntimeEmscriptenVersion>$(MicrosoftNETWorkloadEmscriptenManifest70100Version)</MicrosoftNETRuntimeEmscriptenVersion>
     <!-- workloads -->
     <SwixPackageVersion>1.1.87-gba258badda</SwixPackageVersion>
diff --git a/eng/pipelines/common/platform-matrix.yml b/eng/pipelines/common/platform-matrix.yml
index 22fa0be43584d..a31f595580cf5 100644
--- a/eng/pipelines/common/platform-matrix.yml
+++ b/eng/pipelines/common/platform-matrix.yml
@@ -303,7 +303,7 @@ jobs:
       targetRid: browser-wasm
       platform: Browser_wasm
       container:
-        image: ubuntu-18.04-webassembly-20210707133424-12f133e
+        image: ubuntu-18.04-webassembly-20220118141522-180197c
         registry: mcr
       jobParameters:
         hostedOs: Linux
diff --git a/eng/pipelines/common/templates/wasm-library-tests.yml b/eng/pipelines/common/templates/wasm-library-tests.yml
index 539e2ffa69359..8ebf5646fc7e5 100644
--- a/eng/pipelines/common/templates/wasm-library-tests.yml
+++ b/eng/pipelines/common/templates/wasm-library-tests.yml
@@ -35,7 +35,7 @@ jobs:
       testGroup: innerloop
       nameSuffix: LibraryTests${{ parameters.nameSuffix }}
       buildArgs: -s mono+libs+host+packs+libs.tests -c $(_BuildConfig) /p:ArchiveTests=true /p:BrowserHost=$(_hostedOs) ${{ parameters.runSmokeOnlyArg }} ${{ parameters.extraBuildArgs }}
-      timeoutInMinutes: 180
+      timeoutInMinutes: 240
       # always run for runtime-wasm builds (triggered manually)
       # Always run for rolling builds
       # Else run on path changes
diff --git a/eng/pipelines/libraries/helix-queues-setup.yml b/eng/pipelines/libraries/helix-queues-setup.yml
index ef1cdc9ebab0d..df537fdc8699d 100644
--- a/eng/pipelines/libraries/helix-queues-setup.yml
+++ b/eng/pipelines/libraries/helix-queues-setup.yml
@@ -182,6 +182,6 @@ jobs:
 
     # WebAssembly windows
     - ${{ if eq(parameters.platform, 'Browser_wasm_win') }}:
-      - (Windows.Server.Core.1909.Amd64.Open)windows.10.amd64.server20h2.open@mcr.microsoft.com/dotnet-buildtools/prereqs:windowsservercore-2004-helix-webassembly-amd64-20210702131541-6837048
+      - (Windows.Amd64.Server2022.Open)windows.amd64.server2022.open@mcr.microsoft.com/dotnet-buildtools/prereqs:windowsservercore-ltsc2022-helix-webassembly-20220118164817-dc6e6f1
 
     ${{ insert }}: ${{ parameters.jobParameters }}
diff --git a/src/mono/mono/component/debugger-agent.c b/src/mono/mono/component/debugger-agent.c
index d53619b8bc8f1..49acdc3abe18d 100644
--- a/src/mono/mono/component/debugger-agent.c
+++ b/src/mono/mono/component/debugger-agent.c
@@ -414,6 +414,7 @@ static gboolean buffer_replies;
 	DebuggerTlsData *tls; \
 	tls = (DebuggerTlsData *)mono_native_tls_get_value (debugger_tls_id);
 #else
+/* the thread argument is omitted on wasm, to avoid compiler warning */
 #define GET_TLS_DATA_FROM_THREAD(...) \
 	DebuggerTlsData *tls; \
 	tls = &debugger_wasm_thread;
diff --git a/src/mono/wasm/README.md b/src/mono/wasm/README.md
index 2fd07e682ad72..841af5b07303b 100644
--- a/src/mono/wasm/README.md
+++ b/src/mono/wasm/README.md
@@ -188,6 +188,7 @@ Bumping Emscripten version involves these steps:
 * update https://github.com/dotnet/runtime/blob/main/src/mono/wasm/emscripten-version.txt
 * bump emscripten versions in docker images in https://github.com/dotnet/dotnet-buildtools-prereqs-docker
 * bump emscripten in https://github.com/dotnet/emsdk
+* bump docker images in https://github.com/dotnet/icu, update emscripten files in eng/patches/
 * update version number in docs
 * update `Microsoft.NET.Runtime.Emscripten.<emscripten version>.Node.win-x64` package name, version and sha hash in https://github.com/dotnet/runtime/blob/main/eng/Version.Details.xml and in https://github.com/dotnet/runtime/blob/main/eng/Versions.props. the sha is the commit hash in https://github.com/dotnet/emsdk and the package version can be found at https://dev.azure.com/dnceng/public/_packaging?_a=feed&feed=dotnet6
 * update packages in the workload manifest https://github.com/dotnet/runtime/blob/main/src/mono/nuget/Microsoft.NET.Workload.Mono.Toolchain.Manifest/WorkloadManifest.json.in
diff --git a/src/mono/wasm/build/README.md b/src/mono/wasm/build/README.md
index c6fb0a8681944..3e1d8902550aa 100644
--- a/src/mono/wasm/build/README.md
+++ b/src/mono/wasm/build/README.md
@@ -137,7 +137,7 @@ them for the new task assembly.
 
 If encountering build performance issues, you can use the rollup `--perf` option and the typescript compiler `--generateCpuProfile` option to get build profile data, like so:
 
-```../emsdk/node/14.15.5_64bit/bin/npm run rollup --perf -- --perf --environment Configuration:Release,NativeBinDir:./rollup-test-data,ProductVersion:12.3.4```
+```../emsdk/node/14.18.2_64bit/bin/npm run rollup --perf -- --perf --environment Configuration:Release,NativeBinDir:./rollup-test-data,ProductVersion:12.3.4```
 
 ```node node_modules/typescript/lib/tsc.js --generateCpuProfile dotnet-tsc.cpuprofile -p tsconfig.json ```
 
diff --git a/src/mono/wasm/build/WasmApp.Native.targets b/src/mono/wasm/build/WasmApp.Native.targets
index 5fb4c12e36fba..bea1676405c96 100644
--- a/src/mono/wasm/build/WasmApp.Native.targets
+++ b/src/mono/wasm/build/WasmApp.Native.targets
@@ -255,6 +255,7 @@
       <_WasmNativeFileForLinking Include="@(NativeFileReference)" />
 
       <EmscriptenEnvVars Include="EMSDK_PYTHON=$(EmscriptenPythonToolsPath)python.exe" Condition="'$(OS)' == 'Windows_NT'" />
+      <EmscriptenEnvVars Include="PYTHONPATH=$(EmscriptenPythonToolsPath)" Condition="'$(OS)' == 'Windows_NT'" />
       <EmscriptenEnvVars Include="EM_CACHE=$(WasmCachePath)" Condition="'$(WasmCachePath)' != ''" />
     </ItemGroup>
 
diff --git a/src/mono/wasm/emscripten-version.txt b/src/mono/wasm/emscripten-version.txt
index 8fe1046e01fc8..94ff29cc4de4f 100644
--- a/src/mono/wasm/emscripten-version.txt
+++ b/src/mono/wasm/emscripten-version.txt
@@ -1 +1 @@
-2.0.23
\ No newline at end of file
+3.1.1
diff --git a/src/mono/wasm/wasm.proj b/src/mono/wasm/wasm.proj
index df423fbf994b8..13b99eae4edb6 100644
--- a/src/mono/wasm/wasm.proj
+++ b/src/mono/wasm/wasm.proj
@@ -119,7 +119,7 @@
       <_EmccLinkFlags Include="-s FORCE_FILESYSTEM=1" />
       <_EmccLinkFlags Include="-s EXPORTED_RUNTIME_METHODS=&quot;['FS','print','ccall','cwrap','setValue','getValue','UTF8ToString','UTF8ArrayToString','FS_createPath','FS_createDataFile','removeRunDependency','addRunDependency', 'FS_readFile']&quot;"  />
       <!-- _htons,_ntohs,__get_daylight,__get_timezone,__get_tzname are exported temporarily, until the issue is fixed in emscripten, https://github.com/dotnet/runtime/issues/64724  -->
-      <_EmccLinkFlags Include="-s EXPORTED_FUNCTIONS=_free,_malloc,_memalign,_memset" Condition="$([MSBuild]::VersionGreaterThan('$(_EmccVersion)', '3.0'))" />
+      <_EmccLinkFlags Include="-s EXPORTED_FUNCTIONS=_free,_malloc,_memalign,_memset,_htons,_ntohs,__get_daylight,__get_timezone,__get_tzname" Condition="$([MSBuild]::VersionGreaterThan('$(_EmccVersion)', '3.0'))" />
       <_EmccLinkFlags Include="-s EXPORTED_FUNCTIONS=_free,_malloc,_htons,_ntohs,__get_daylight,__get_timezone,__get_tzname,_memalign" Condition="$([MSBuild]::VersionLessThan('$(_EmccVersion)', '3.0'))" />
       <_EmccLinkFlags Include="--source-map-base http://example.com" />
       <_EmccLinkFlags Include="-s STRICT_JS=1" />
diff --git a/src/tests/BuildWasmApps/Wasm.Build.Tests/BlazorWasmBuildPublishTests.cs b/src/tests/BuildWasmApps/Wasm.Build.Tests/BlazorWasmBuildPublishTests.cs
index 28bfa196778c4..769c90cb29214 100644
--- a/src/tests/BuildWasmApps/Wasm.Build.Tests/BlazorWasmBuildPublishTests.cs
+++ b/src/tests/BuildWasmApps/Wasm.Build.Tests/BlazorWasmBuildPublishTests.cs
@@ -89,7 +89,7 @@ public void NativeBuild_WithDeployOnBuild_UsedByVS(string config, bool nativeRel
             AddItemsPropertiesToProject(projectFile, extraProperties: nativeRelink ? string.Empty : "<RunAOTCompilation>true</RunAOTCompilation>");
 
             // build with -p:DeployOnBuild=true, and that will trigger a publish
-            (CommandResult res, _) = BuildInternal(id, config, publish: false, "-p:DeployOnBuild=true");
+            (CommandResult res, _) = BuildInternal(id, config, publish: false, setWasmDevel: false, "-p:DeployOnBuild=true");
 
             var expectedFileType = nativeRelink ? NativeFilesType.Relinked : NativeFilesType.AOT;
 
diff --git a/src/tests/BuildWasmApps/Wasm.Build.Tests/BuildTestBase.cs b/src/tests/BuildWasmApps/Wasm.Build.Tests/BuildTestBase.cs
index 5a98a8b591a31..076d87d069428 100644
--- a/src/tests/BuildWasmApps/Wasm.Build.Tests/BuildTestBase.cs
+++ b/src/tests/BuildWasmApps/Wasm.Build.Tests/BuildTestBase.cs
@@ -398,7 +398,7 @@ public string CreateBlazorWasmTemplateProject(string id)
 
         protected (CommandResult, string) BlazorBuild(BlazorBuildOptions options, params string[] extraArgs)
         {
-            var res = BuildInternal(options.Id, options.Config, publish: false, extraArgs);
+            var res = BuildInternal(options.Id, options.Config, publish: false, setWasmDevel: false, extraArgs);
             AssertDotNetNativeFiles(options.ExpectedFileType, options.Config, forPublish: false, targetFramework: options.TargetFramework);
             AssertBlazorBundle(options.Config, isPublish: false, dotnetWasmFromRuntimePack: options.ExpectedFileType == NativeFilesType.FromRuntimePack);
 
@@ -407,7 +407,7 @@ public string CreateBlazorWasmTemplateProject(string id)
 
         protected (CommandResult, string) BlazorPublish(BlazorBuildOptions options, params string[] extraArgs)
         {
-            var res = BuildInternal(options.Id, options.Config, publish: true, extraArgs);
+            var res = BuildInternal(options.Id, options.Config, publish: true, setWasmDevel: false, extraArgs);
             AssertDotNetNativeFiles(options.ExpectedFileType, options.Config, forPublish: true, targetFramework: options.TargetFramework);
             AssertBlazorBundle(options.Config, isPublish: true, dotnetWasmFromRuntimePack: options.ExpectedFileType == NativeFilesType.FromRuntimePack);
 
@@ -423,7 +423,7 @@ public string CreateBlazorWasmTemplateProject(string id)
             return res;
         }
 
-        protected (CommandResult, string) BuildInternal(string id, string config, bool publish=false, params string[] extraArgs)
+        protected (CommandResult, string) BuildInternal(string id, string config, bool publish=false, bool setWasmDevel=true, params string[] extraArgs)
         {
             string label = publish ? "publish" : "build";
             Console.WriteLine($"{Environment.NewLine}** {label} **{Environment.NewLine}");
@@ -435,7 +435,7 @@ public string CreateBlazorWasmTemplateProject(string id)
                 $"-bl:{logPath}",
                 $"-p:Configuration={config}",
                 "-p:BlazorEnableCompression=false",
-                "-p:_WasmDevel=true"
+                setWasmDevel ? "-p:_WasmDevel=true" : string.Empty
             }.Concat(extraArgs).ToArray();
 
             CommandResult res = new DotNetCommand(s_buildEnv)
diff --git a/src/tests/BuildWasmApps/Wasm.Build.Tests/NativeRebuildTests/NoopNativeRebuildTest.cs b/src/tests/BuildWasmApps/Wasm.Build.Tests/NativeRebuildTests/NoopNativeRebuildTest.cs
index 6a0c860aa9731..1b9d9f01bde2f 100644
--- a/src/tests/BuildWasmApps/Wasm.Build.Tests/NativeRebuildTests/NoopNativeRebuildTest.cs
+++ b/src/tests/BuildWasmApps/Wasm.Build.Tests/NativeRebuildTests/NoopNativeRebuildTest.cs
@@ -73,7 +73,7 @@ public void BlazorOnlyLinkRebuild(string config)
 
             string objDir = Path.Combine(_projectDir!, "obj", config, DefaultTargetFramework, "wasm");
 
-            BlazorBuild(new BlazorBuildOptions(id, config, NativeFilesType.Relinked));
+            BlazorBuild(new BlazorBuildOptions(id, config, NativeFilesType.Relinked), "-p:EmccLinkOptimizationFlag=-O2");
             File.Move(Path.Combine(s_buildEnv.LogRootPath, id, $"{id}-build.binlog"),
                         Path.Combine(s_buildEnv.LogRootPath, id, $"{id}-build-first.binlog"));