diff --git a/gax/package.json b/gax/package.json
index 2a927174f..fa43e30cc 100644
--- a/gax/package.json
+++ b/gax/package.json
@@ -21,7 +21,7 @@
     "proto3-json-serializer": "^2.0.0",
     "retry-request": "^7.0.0",
     "uuid": "^9.0.1",
-    "protobufjs": "7.2.6"
+    "protobufjs": "7.3.0"
   },
   "devDependencies": {
     "@types/uuid": "^9.0.7",
diff --git a/tools/package.json b/tools/package.json
index bd2cf9ae7..385548f7d 100644
--- a/tools/package.json
+++ b/tools/package.json
@@ -55,7 +55,7 @@
     "gts": "^5.0.0",
     "mocha": "^9.0.0",
     "ncp": "^2.0.0",
-    "protobufjs": "7.2.6",
+    "protobufjs": "7.3.0",
     "typescript": "^5.1.6"
   },
   "engines": {