diff --git a/README.md b/README.md
index 35ebc248b0b..20edefc9dd5 100644
--- a/README.md
+++ b/README.md
@@ -132,7 +132,7 @@ Note: Upstart/SysV init based OS types are not supported.
 
 - Core
   - [kubernetes](https://github.com/kubernetes/kubernetes) v1.23.5
-  - [etcd](https://github.com/etcd-io/etcd) v3.5.1
+  - [etcd](https://github.com/etcd-io/etcd) v3.5.3
   - [docker](https://www.docker.com/) v20.10 (see note)
   - [containerd](https://containerd.io/) v1.6.2
   - [cri-o](http://cri-o.io/) v1.22 (experimental: see [CRI-O Note](docs/cri-o.md). Only on fedora, ubuntu and centos based OS)
diff --git a/roles/download/defaults/main.yml b/roles/download/defaults/main.yml
index f755c96c1cf..7eeae7b8565 100644
--- a/roles/download/defaults/main.yml
+++ b/roles/download/defaults/main.yml
@@ -122,9 +122,9 @@ krew_version: "v0.4.2"
 kube_major_version: "{{ kube_version | regex_replace('^v([0-9])+\\.([0-9]+)\\.[0-9]+', 'v\\1.\\2') }}"
 
 etcd_supported_versions:
-  v1.23: "v3.5.1"
-  v1.22: "v3.5.1"
-  v1.21: "v3.5.0"
+  v1.23: "v3.5.3"
+  v1.22: "v3.5.3"
+  v1.21: "v3.5.3"
 etcd_version: "{{ etcd_supported_versions[kube_major_version] }}"
 
 crictl_supported_versions:
@@ -519,14 +519,17 @@ etcd_binary_checksums:
     v3.5.0: 444e10e6880595d75aaf55762901c722049b29d56fef50b2f23464bb7f9db74d
     v3.5.1: 86203022e23d7368bac23d96095270dc6300f356ea882e435926a9effd7e5f0e
     v3.5.2: 256cad725542d6fd463e81b8a19b86ead4cdfe113f7fb8a1eabc6c32c25d068b
+    v3.5.3: 8b00f2f51568303799368ee4a3c9b9ff8a3dd9f8b7772c4f6589e46bc62f7115
   amd64:
     v3.5.0: 864baa0437f8368e0713d44b83afe21dce1fb4ee7dae4ca0f9dd5f0df22d01c4
     v3.5.1: 728a14914217ce60de2e1299fc1a2c2c5564e7ffd0d9dadf3f5073103ab619b4
     v3.5.2: c068ea3cdcc8ec8fbef75995cef7f63f8206766cdea6b93a91e6d4cdbe79952a
+    v3.5.3: e13e119ff9b28234561738cd261c2a031eb1c8688079dcf96d8035b3ad19ca58
   ppc64le:
     v3.5.0: bde45588b66ed2fe0a7082b1cdb08124efff4960edfa6af4dd2f645886004a86
     v3.5.1: 4c2598f43c1565428f8b645e741739a1e84300d5f2af3e4b335982862c98dc6f
     v3.5.2: 3d37187b042a32b7234a1e2a4612374db50c9a50e0cdd63baaa0d52d91335186
+    v3.5.3: f14154897ca5ad4698383b4c197001340fbe467525f6fab3b89ee8116246480f
 
 flannel_cni_binary_checksums:
   arm: