diff --git a/gapic-generator-java-pom-parent/pom.xml b/gapic-generator-java-pom-parent/pom.xml
index 51545404936..59d6c8121f0 100644
--- a/gapic-generator-java-pom-parent/pom.xml
+++ b/gapic-generator-java-pom-parent/pom.xml
@@ -26,7 +26,7 @@
     <!-- External dependencies, especially gRPC and Protobuf version, should be
         consistent across modules in this repository -->
     <javax.annotation-api.version>1.3.2</javax.annotation-api.version>
-    <grpc.version>1.61.1</grpc.version>
+    <grpc.version>1.62.2</grpc.version>
     <google.auth.version>1.23.0</google.auth.version>
     <google.http-client.version>1.44.1</google.http-client.version>
     <gson.version>2.10.1</gson.version>
diff --git a/gax-java/dependencies.properties b/gax-java/dependencies.properties
index f8690633766..213396ea9af 100644
--- a/gax-java/dependencies.properties
+++ b/gax-java/dependencies.properties
@@ -28,7 +28,7 @@ version.gax_httpjson=2.43.1-SNAPSHOT
 
 version.com_google_protobuf=3.25.2
 version.google_java_format=1.15.0
-version.io_grpc=1.61.1
+version.io_grpc=1.62.2
 
 # Maven artifacts.
 # Note, the actual name of each property matters (bazel build scripts depend on it).