diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6265704e640c..72a1f73a5830 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -9,6 +9,7 @@ Inspired from [Keep a Changelog](https://keepachangelog.com/en/1.0.0/)
 
 ### 🛡 Security
 - [CVE-2023-26136] Bump `word-wrap` from `1.2.3` to `1.2.4` ([#5002](https://github.com/opensearch-project/OpenSearch-Dashboards/pull/5002))
+- [CVE-2022-21670] Bump `markdown-it` from `10.0.0` to `12.3.2` ([#5016](https://github.com/opensearch-project/OpenSearch-Dashboards/pull/5016))
 
 ### 📈 Features/Enhancements
 
diff --git a/package.json b/package.json
index 7a28d6b555d2..584747304656 100644
--- a/package.json
+++ b/package.json
@@ -450,7 +450,7 @@
     "listr": "^0.14.1",
     "load-grunt-config": "^3.0.1",
     "load-json-file": "^6.2.0",
-    "markdown-it": "^10.0.0",
+    "markdown-it": "^12.3.2",
     "mocha": "^7.2.0",
     "mock-fs": "^4.12.0",
     "monaco-editor": "~0.17.0",
diff --git a/packages/osd-dev-utils/package.json b/packages/osd-dev-utils/package.json
index 579d584c4fa1..2c5ca284974d 100644
--- a/packages/osd-dev-utils/package.json
+++ b/packages/osd-dev-utils/package.json
@@ -24,7 +24,7 @@
     "getopts": "^2.2.5",
     "globby": "^8.0.1",
     "load-json-file": "^6.2.0",
-    "markdown-it": "^10.0.0",
+    "markdown-it": "^12.3.2",
     "moment": "^2.24.0",
     "normalize-path": "^3.0.0",
     "rxjs": "^6.5.5",
diff --git a/packages/osd-release-notes/package.json b/packages/osd-release-notes/package.json
index 9bf58eeb4e6b..38b3d2713f8a 100644
--- a/packages/osd-release-notes/package.json
+++ b/packages/osd-release-notes/package.json
@@ -21,7 +21,7 @@
     "terminal-link": "^2.1.1"
   },
   "devDependencies": {
-    "markdown-it": "^10.0.0",
+    "markdown-it": "^12.3.2",
     "typescript": "4.0.2"
   }
 }
diff --git a/yarn.lock b/yarn.lock
index e6939c5b817a..d9a3c249000b 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4303,6 +4303,11 @@ argparse@^1.0.7, argparse@~1.0.9:
   dependencies:
     sprintf-js "~1.0.2"
 
+argparse@^2.0.1:
+  version "2.0.1"
+  resolved "https://registry.yarnpkg.com/argparse/-/argparse-2.0.1.tgz#246f50f3ca78a3240f6c997e8a9bd1eac49e4b38"
+  integrity sha512-8+9WqebbFzpX9OR+Wa6O29asIogeRMzcGtAINdpMHHyAg10f05aSFVBbcEqGf/PXw1EjAZ+q2/bEBg3DvurK3Q==
+
 aria-hidden@^1.1.1:
   version "1.1.1"
   resolved "https://registry.yarnpkg.com/aria-hidden/-/aria-hidden-1.1.1.tgz#0c356026d3f65e2bd487a3adb73f0c586be2c37e"
@@ -8214,10 +8219,10 @@ entities@^1.1.1, entities@~1.1.1:
   resolved "https://registry.yarnpkg.com/entities/-/entities-1.1.2.tgz#bdfa735299664dfafd34529ed4f8522a275fea56"
   integrity sha512-f2LZMYl1Fzu7YSBKg+RoROelpOaNrcGmE9AZubeDfrCEia483oW4MI4VyFd5VNHIgQ/7qm1I0wUHK1eJnn2y2w==
 
-entities@~2.0.0:
-  version "2.0.0"
-  resolved "https://registry.yarnpkg.com/entities/-/entities-2.0.0.tgz#68d6084cab1b079767540d80e56a39b423e4abf4"
-  integrity sha512-D9f7V0JSRwIxlRI2mjMqufDrRDnx8p+eEOz7aUM9SuvF8gsBzra0/6tbjl1m8eQHrZlYj6PxqE00hZ1SAIKPLw==
+entities@~2.1.0:
+  version "2.1.0"
+  resolved "https://registry.yarnpkg.com/entities/-/entities-2.1.0.tgz#992d3129cf7df6870b96c57858c249a120f8b8b5"
+  integrity sha512-hCx1oky9PFrJ611mf0ifBLBRW8lUUVRlFolb5gWRfIELabBlbp9xZvrqZLZAs+NxFnbfQoeGd8wDkygjg7U85w==
 
 env-paths@^1.0.0:
   version "1.0.0"
@@ -13544,10 +13549,10 @@ lines-and-columns@^1.1.6:
   resolved "https://registry.yarnpkg.com/lines-and-columns/-/lines-and-columns-1.1.6.tgz#1c00c743b433cd0a4e80758f7b64a57440d9ff00"
   integrity sha1-HADHQ7QzzQpOgHWPe2SldEDZ/wA=
 
-linkify-it@^2.0.0:
-  version "2.0.3"
-  resolved "https://registry.yarnpkg.com/linkify-it/-/linkify-it-2.0.3.tgz#d94a4648f9b1c179d64fa97291268bdb6ce9434f"
-  integrity sha1-2UpGSPmxwXnWT6lykSaL22zpQ08=
+linkify-it@^3.0.1:
+  version "3.0.3"
+  resolved "https://registry.yarnpkg.com/linkify-it/-/linkify-it-3.0.3.tgz#a98baf44ce45a550efb4d49c769d07524cc2fa2e"
+  integrity sha512-ynTsyrFSdE5oZ/O9GEf00kPngmOfVwazR5GKDq6EYfhlpFug3J2zybX56a2PRRpc9P+FuSoGNAwjlbDs9jJBPQ==
   dependencies:
     uc.micro "^1.0.1"
 
@@ -14207,14 +14212,14 @@ markdown-escapes@^1.0.0:
   resolved "https://registry.yarnpkg.com/markdown-escapes/-/markdown-escapes-1.0.1.tgz#1994df2d3af4811de59a6714934c2b2292734518"
   integrity sha1-GZTfLTr0gR3lmmcUk0wrIpJzRRg=
 
-markdown-it@^10.0.0:
-  version "10.0.0"
-  resolved "https://registry.yarnpkg.com/markdown-it/-/markdown-it-10.0.0.tgz#abfc64f141b1722d663402044e43927f1f50a8dc"
-  integrity sha512-YWOP1j7UbDNz+TumYP1kpwnP0aEa711cJjrAQrzd0UXlbJfc5aAq0F/PZHjiioqDC1NKgvIMX+o+9Bk7yuM2dg==
+markdown-it@^12.3.2:
+  version "12.3.2"
+  resolved "https://registry.yarnpkg.com/markdown-it/-/markdown-it-12.3.2.tgz#bf92ac92283fe983fe4de8ff8abfb5ad72cd0c90"
+  integrity sha512-TchMembfxfNVpHkbtriWltGWc+m3xszaRD0CZup7GFFhzIgQqxIfn3eGj1yZpfuflzPvfkt611B2Q/Bsk1YnGg==
   dependencies:
-    argparse "^1.0.7"
-    entities "~2.0.0"
-    linkify-it "^2.0.0"
+    argparse "^2.0.1"
+    entities "~2.1.0"
+    linkify-it "^3.0.1"
     mdurl "^1.0.1"
     uc.micro "^1.0.5"