diff --git a/.cloudbuild/library_generation/library_generation.Dockerfile b/.cloudbuild/library_generation/library_generation.Dockerfile
index 2af99eaff4..433d021bea 100644
--- a/.cloudbuild/library_generation/library_generation.Dockerfile
+++ b/.cloudbuild/library_generation/library_generation.Dockerfile
@@ -51,7 +51,7 @@ FROM docker.io/library/python:3.12.7-alpine3.20@sha256:5049c050bdc68575a10bcb188
 
 ARG OWLBOT_CLI_COMMITTISH=6662ddc9cff57289c3c1d59224904d78087734b5
 ARG PROTOC_VERSION=25.5
-ARG GRPC_VERSION=1.68.1
+ARG GRPC_VERSION=1.68.2
 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 3a147bcbf1..46526c1017 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>1.68.1</grpc.version>
+    <grpc.version>1.68.2</grpc.version>
     <google.auth.version>1.30.0</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 934a1a6da2..d3d65aa8a7 100644
--- a/gax-java/dependencies.properties
+++ b/gax-java/dependencies.properties
@@ -28,7 +28,7 @@ version.gax_httpjson=2.58.1-SNAPSHOT
 
 version.com_google_protobuf=3.25.5
 version.google_java_format=1.15.0
-version.io_grpc=1.68.1
+version.io_grpc=1.68.2
 
 # Maven artifacts.
 # Note, the actual name of each property matters (bazel build scripts depend on it).