diff --git a/bazel/repository.bzl b/bazel/repository.bzl
index 2b00ba18f6..e7d2844c59 100644
--- a/bazel/repository.bzl
+++ b/bazel/repository.bzl
@@ -53,10 +53,10 @@ def opentelemetry_cpp_deps():
     maybe(
         http_archive,
         name = "com_github_grpc_grpc",
-        sha256 = "024118069912358e60722a2b7e507e9c3b51eeaeee06e2dd9d95d9c16f6639ec",
-        strip_prefix = "grpc-1.39.1",
+        sha256 = "b74ce7d26fe187970d1d8e2c06a5d3391122f7bc1fdce569aff5e435fb8fe780",
+        strip_prefix = "grpc-1.43.2",
         urls = [
-            "https://github.com/grpc/grpc/archive/v1.39.1.tar.gz",
+            "https://github.com/grpc/grpc/archive/v1.43.2.tar.gz",
         ],
     )
 
diff --git a/ci/do_ci.sh b/ci/do_ci.sh
index bc16d5cc47..993a57a5cc 100755
--- a/ci/do_ci.sh
+++ b/ci/do_ci.sh
@@ -268,7 +268,7 @@ elif [[ "$1" == "code.coverage" ]]; then
   cp tmp_coverage.info coverage.info
   exit 0
 elif [[ "$1" == "third_party.tags" ]]; then
-  echo "gRPC=v1.39.1" > third_party_release
+  echo "gRPC=v1.43.2" > third_party_release
   echo "thrift=0.14.1" >> third_party_release
   echo "abseil=20210324.0" >> third_party_release
   git submodule status | sed 's:.*/::' | sed 's/ (/=/g' | sed 's/)//g' >> third_party_release
diff --git a/ci/setup_grpc.sh b/ci/setup_grpc.sh
index f46e38c12c..2995f7b4ba 100755
--- a/ci/setup_grpc.sh
+++ b/ci/setup_grpc.sh
@@ -6,7 +6,7 @@
 set -e
 export DEBIAN_FRONTEND=noninteractive
 old_grpc_version='v1.33.2'
-new_grpc_version='v1.39.1'
+new_grpc_version='v1.43.2'
 gcc_version_for_new_grpc='5.1'
 install_grpc_version=${new_grpc_version}
 grpc_version='v1.39.0'
diff --git a/third_party_release b/third_party_release
index 123b8aa854..ae26ad2fc5 100644
--- a/third_party_release
+++ b/third_party_release
@@ -1,4 +1,4 @@
-gRPC=v1.39.1
+gRPC=v1.43.2
 thrift=0.14.1
 abseil=20210324.0
 benchmark=v1.5.3