diff --git a/Cargo.lock b/Cargo.lock
index 7d36a731d5..ef2fa31be2 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -3554,18 +3554,18 @@ checksum = "222a222a5bfe1bba4a77b45ec488a741b3cb8872e5e499451fd7d0129c9c7c3d"
 
 [[package]]
 name = "thiserror"
-version = "1.0.38"
+version = "1.0.39"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6a9cd18aa97d5c45c6603caea1da6628790b37f7a34b6ca89522331c5180fed0"
+checksum = "a5ab016db510546d856297882807df8da66a16fb8c4101cb8b30054b0d5b2d9c"
 dependencies = [
  "thiserror-impl",
 ]
 
 [[package]]
 name = "thiserror-impl"
-version = "1.0.38"
+version = "1.0.39"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1fb327af4685e4d03fa8cbcf1716380da910eeb2bb8be417e7f9fd3fb164f36f"
+checksum = "5420d42e90af0c38c3290abcca25b9b3bdf379fc9f55c528f53a269d9c9a267e"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/codegen/Cargo.toml b/codegen/Cargo.toml
index a6454abee5..9f7ad65d42 100644
--- a/codegen/Cargo.toml
+++ b/codegen/Cargo.toml
@@ -25,7 +25,7 @@ subxt-metadata = { version = "0.27.1", path = "../metadata" }
 jsonrpsee = { version = "0.16.0", features = ["async-client", "client-ws-transport", "http-client"] }
 hex = "0.4.3"
 tokio = { version = "1.26", features = ["macros", "rt-multi-thread"] }
-thiserror = "1.0.24"
+thiserror = "1.0.39"
 
 [dev-dependencies]
 bitvec = { version = "1.0.0", default-features = false, features = ["alloc"] }
diff --git a/subxt/Cargo.toml b/subxt/Cargo.toml
index 82ea2489c8..9926db175c 100644
--- a/subxt/Cargo.toml
+++ b/subxt/Cargo.toml
@@ -45,7 +45,7 @@ hex = "0.4.3"
 jsonrpsee = { version = "0.16", optional = true, features = ["jsonrpsee-types"] }
 serde = { version = "1.0.124", features = ["derive"] }
 serde_json = { version = "1.0.94", features = ["raw_value"] }
-thiserror = "1.0.24"
+thiserror = "1.0.39"
 tracing = "0.1.34"
 parking_lot = "0.12.0"
 frame-metadata = "15.0.0"