diff --git a/Cargo.lock b/Cargo.lock
index 14b1512eae..157439446e 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -622,7 +622,7 @@ dependencies = [
  "num-traits",
  "rusticata-macros",
  "thiserror",
- "time 0.3.27",
+ "time",
 ]
 
 [[package]]
@@ -2300,15 +2300,14 @@ dependencies = [
 
 [[package]]
 name = "chrono"
-version = "0.4.27"
+version = "0.4.31"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f56b4c72906975ca04becb8a30e102dfecddd0c06181e3e95ddc444be28881f8"
+checksum = "7f2c685bad3eb3d45a01354cedb7d5faa66194d1d58ba6e267a8de788f79db38"
 dependencies = [
  "android-tzdata",
  "iana-time-zone",
  "js-sys",
  "num-traits",
- "time 0.1.45",
  "wasm-bindgen",
  "windows-targets 0.48.5",
 ]
@@ -13902,7 +13901,7 @@ checksum = "ffbe84efe2f38dea12e9bfc1f65377fdf03e53a18cb3b995faedf7934c7e785b"
 dependencies = [
  "pem",
  "ring 0.16.20",
- "time 0.3.27",
+ "time",
  "yasna",
 ]
 
@@ -19032,17 +19031,6 @@ dependencies = [
  "tikv-jemalloc-sys",
 ]
 
-[[package]]
-name = "time"
-version = "0.1.45"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1b797afad3f312d1c66a56d11d0316f916356d11bd158fbc6ca6389ff6bf805a"
-dependencies = [
- "libc",
- "wasi 0.10.0+wasi-snapshot-preview1",
- "winapi",
-]
-
 [[package]]
 name = "time"
 version = "0.3.27"
@@ -19875,12 +19863,6 @@ version = "0.9.0+wasi-snapshot-preview1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "cccddf32554fecc6acb585f82a32a72e28b48f8c4c1883ddfeeeaa96f7d8e519"
 
-[[package]]
-name = "wasi"
-version = "0.10.0+wasi-snapshot-preview1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1a143597ca7c7793eff794def352d41792a93c481eb1042423ff7ff72ba2c31f"
-
 [[package]]
 name = "wasi"
 version = "0.11.0+wasi-snapshot-preview1"
@@ -20813,7 +20795,7 @@ dependencies = [
  "oid-registry",
  "rusticata-macros",
  "thiserror",
- "time 0.3.27",
+ "time",
 ]
 
 [[package]]
@@ -20987,7 +20969,7 @@ version = "0.5.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "e17bb3549cc1321ae1296b9cdc2698e2b6cb1992adfa19a8c72e5b7a738f44cd"
 dependencies = [
- "time 0.3.27",
+ "time",
 ]
 
 [[package]]
diff --git a/substrate/client/cli/Cargo.toml b/substrate/client/cli/Cargo.toml
index 82362e35ea..80d3815fbc 100644
--- a/substrate/client/cli/Cargo.toml
+++ b/substrate/client/cli/Cargo.toml
@@ -17,7 +17,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 
 [dependencies]
 array-bytes = "6.1"
-chrono = "0.4.27"
+chrono = "0.4.31"
 clap = { version = "4.4.11", features = ["derive", "string", "wrap_help"] }
 fdlimit = "0.3.0"
 futures = "0.3.21"
diff --git a/substrate/client/telemetry/Cargo.toml b/substrate/client/telemetry/Cargo.toml
index 8e5ea836cb..f4c73dec67 100644
--- a/substrate/client/telemetry/Cargo.toml
+++ b/substrate/client/telemetry/Cargo.toml
@@ -17,7 +17,7 @@ workspace = true
 targets = ["x86_64-unknown-linux-gnu"]
 
 [dependencies]
-chrono = "0.4.27"
+chrono = "0.4.31"
 futures = "0.3.21"
 libp2p = { version = "0.51.4", features = ["dns", "tcp", "tokio", "wasm-ext", "websocket"] }
 log = "0.4.17"
diff --git a/substrate/client/tracing/Cargo.toml b/substrate/client/tracing/Cargo.toml
index 39428c6c6f..c5d5783460 100644
--- a/substrate/client/tracing/Cargo.toml
+++ b/substrate/client/tracing/Cargo.toml
@@ -18,7 +18,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 [dependencies]
 ansi_term = "0.12.1"
 is-terminal = "0.4.9"
-chrono = "0.4.27"
+chrono = "0.4.31"
 codec = { package = "parity-scale-codec", version = "3.6.1" }
 lazy_static = "1.4.0"
 libc = "0.2.121"
diff --git a/substrate/utils/frame/generate-bags/Cargo.toml b/substrate/utils/frame/generate-bags/Cargo.toml
index f075452f4c..4afb2a80b7 100644
--- a/substrate/utils/frame/generate-bags/Cargo.toml
+++ b/substrate/utils/frame/generate-bags/Cargo.toml
@@ -20,5 +20,5 @@ pallet-staking = { path = "../../../frame/staking" }
 sp-staking = { path = "../../../primitives/staking" }
 
 # third party
-chrono = { version = "0.4.27" }
+chrono = { version = "0.4.31" }
 num-format = "0.4.3"