diff --git a/dependency-versions.yaml b/dependency-versions.yaml
index b785b6e6..28689592 100644
--- a/dependency-versions.yaml
+++ b/dependency-versions.yaml
@@ -36,7 +36,7 @@
         },
         "provider-azure": {
           "repo": "https://github.com/gardener/gardener-extension-provider-azure.git",
-          "version": "v1.22.0"
+          "version": "v1.23.1"
         },
         "provider-gcp": {
           "repo": "https://github.com/gardener/gardener-extension-provider-gcp.git",