diff --git a/Cargo.lock b/Cargo.lock
index 73effefc48da1..904de18029f35 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2460,9 +2460,9 @@ dependencies = [
 
 [[package]]
 name = "git2"
-version = "0.14.2"
+version = "0.16.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3826a6e0e2215d7a41c2bfc7c9244123969273f3476b939a226aac0ab56e9e3c"
+checksum = "ccf7f68c2995f392c49fffb4f95ae2c873297830eb25c6bc4c114ce8f4562acc"
 dependencies = [
  "bitflags",
  "libc",
@@ -3230,9 +3230,9 @@ checksum = "349d5a591cd28b49e1d1037471617a32ddcda5731b99419008085f72d5a53836"
 
 [[package]]
 name = "libgit2-sys"
-version = "0.13.2+1.4.2"
+version = "0.14.2+1.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3a42de9a51a5c12e00fc0e4ca6bc2ea43582fc6418488e8f615e905d886f258b"
+checksum = "7f3d95f6b51075fe9810a7ae22c7095f12b98005ab364d8544797a825ce946a4"
 dependencies = [
  "cc",
  "libc",
diff --git a/utils/frame/generate-bags/Cargo.toml b/utils/frame/generate-bags/Cargo.toml
index 04d598c7843c4..00e1c6c1f2ef1 100644
--- a/utils/frame/generate-bags/Cargo.toml
+++ b/utils/frame/generate-bags/Cargo.toml
@@ -20,5 +20,5 @@ sp-io = { version = "7.0.0", path = "../../../primitives/io" }
 
 # third party
 chrono = { version = "0.4.19" }
-git2 = { version = "0.14.2", default-features = false }
+git2 = { version = "0.16.1", default-features = false }
 num-format = "0.4.3"