diff --git a/Cargo.lock b/Cargo.lock
index 1722ee0816..6bd8655b15 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -6414,9 +6414,9 @@ checksum = "1f3ccbac311fea05f86f61904b462b55fb3df8837a366dfc601a0161d0532f20"
 
 [[package]]
 name = "tokio"
-version = "1.37.0"
+version = "1.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1adbebffeca75fcfd058afa480fb6c0b81e165a0323f9c9d39c9697e37c46787"
+checksum = "eb2caba9f80616f438e09748d5acda951967e1ea58508ef53d9c6402485a46df"
 dependencies = [
  "backtrace",
  "bytes",
@@ -6431,9 +6431,9 @@ dependencies = [
 
 [[package]]
 name = "tokio-macros"
-version = "2.2.0"
+version = "2.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5b8a1e28f2deaa14e508979454cb3a223b10b938b45af148bc0986de36f1923b"
+checksum = "5f5ae998a069d4b5aba8ee9dad856af7d520c3699e6159b185c2acd48155d39a"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/Cargo.toml b/Cargo.toml
index de2485ba93..40948e4b8b 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -73,7 +73,7 @@ subxt-signer = { version = "0.35.3" }
 syn = { version = "2" }
 synstructure = { version = "0.13.1" }
 thiserror = { version = "1.0.61" }
-tokio = { version = "1.37.0" }
+tokio = { version = "1.38.1" }
 tracing = { version = "0.1.37" }
 tracing-subscriber = { version = "0.3.17" }
 trybuild = { version = "1.0.96" }