diff --git a/.cloudbuild/library_generation/library_generation.Dockerfile b/.cloudbuild/library_generation/library_generation.Dockerfile
index e52b938c19..0c8442cb93 100644
--- a/.cloudbuild/library_generation/library_generation.Dockerfile
+++ b/.cloudbuild/library_generation/library_generation.Dockerfile
@@ -56,7 +56,7 @@ FROM docker.io/library/python@sha256:38e179a0f0436c97ecc76bcd378d7293ab3ee79e4b8
 
 ARG OWLBOT_CLI_COMMITTISH=38fe6f89a2339ee75c77739b31b371f601b01bb3
 ARG PROTOC_VERSION=25.5
-ARG GRPC_VERSION=1.67.1
+ARG GRPC_VERSION=1.68.1
 ARG JAVA_FORMAT_VERSION=1.7
 ENV HOME=/home
 ENV OS_ARCHITECTURE="linux-x86_64"
diff --git a/gapic-generator-java-pom-parent/pom.xml b/gapic-generator-java-pom-parent/pom.xml
index 15eb60901d..1991f17d01 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>1.67.1</grpc.version>
+    <grpc.version>1.68.1</grpc.version>
     <google.auth.version>1.29.0</google.auth.version>
     <google.http-client.version>1.45.0</google.http-client.version>
     <gson.version>2.11.0</gson.version>
diff --git a/gax-java/dependencies.properties b/gax-java/dependencies.properties
index 6c6331f518..689a2f9d36 100644
--- a/gax-java/dependencies.properties
+++ b/gax-java/dependencies.properties
@@ -28,7 +28,7 @@ version.gax_httpjson=2.57.1-SNAPSHOT
 
 version.com_google_protobuf=3.25.5
 version.google_java_format=1.15.0
-version.io_grpc=1.67.1
+version.io_grpc=1.68.1
 
 # Maven artifacts.
 # Note, the actual name of each property matters (bazel build scripts depend on it).