diff --git a/CHANGELOG.md b/CHANGELOG.md
index 540479eb97..cfde96986a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -29,6 +29,9 @@ Important changes:
     as the Jaeger propagator can be used without the (now removed)
     Jaeger exporter.
 
+* Upgrade to prometheus 1.3.0
+  [#3122](https://github.com/open-telemetry/opentelemetry-cpp/pull/3122)
+
 ## [1.17 2024-10-07]
 
 * [CI] Add a clang-tidy build
diff --git a/bazel/repository.bzl b/bazel/repository.bzl
index 508b95a39a..4827cffba3 100644
--- a/bazel/repository.bzl
+++ b/bazel/repository.bzl
@@ -110,10 +110,10 @@ def opentelemetry_cpp_deps():
     maybe(
         http_archive,
         name = "com_github_jupp0r_prometheus_cpp",
-        sha256 = "48dbad454d314b836cc667ec4def93ec4a6e4255fc8387c20cacb3b8b6faee30",
-        strip_prefix = "prometheus-cpp-1.2.4",
+        sha256 = "ac6e958405a29fbbea9db70b00fa3c420e16ad32e1baf941ab233ba031dd72ee",
+        strip_prefix = "prometheus-cpp-1.3.0",
         urls = [
-            "https://github.com/jupp0r/prometheus-cpp/archive/refs/tags/v1.2.4.tar.gz",
+            "https://github.com/jupp0r/prometheus-cpp/archive/refs/tags/v1.3.0.tar.gz",
         ],
     )
 
diff --git a/third_party/prometheus-cpp b/third_party/prometheus-cpp
index ad99e21f47..e5fada4313 160000
--- a/third_party/prometheus-cpp
+++ b/third_party/prometheus-cpp
@@ -1 +1 @@
-Subproject commit ad99e21f4706193670c42b36c9824dc997f4c475
+Subproject commit e5fada43131d251e9c4786b04263ce98b6767ba5
diff --git a/third_party_release b/third_party_release
index 7362473f60..2a57541bf0 100644
--- a/third_party_release
+++ b/third_party_release
@@ -21,5 +21,5 @@ ms-gsl=v3.1.0-67-g6f45293
 nlohmann-json=v3.11.3
 opentelemetry-proto=v1.3.2
 opentracing-cpp=v1.6.0
-prometheus-cpp=v1.2.4
+prometheus-cpp=v1.3.0
 vcpkg=2024.02.14