diff --git a/charts/velero/Chart.yaml b/charts/velero/Chart.yaml
index bf53e5e5..068f1a6a 100644
--- a/charts/velero/Chart.yaml
+++ b/charts/velero/Chart.yaml
@@ -1,9 +1,9 @@
 apiVersion: v2
-appVersion: 1.12.2
+appVersion: 1.12.3
 kubeVersion: ">=1.16.0-0"
 description: A Helm chart for velero
 name: velero
-version: 5.2.0
+version: 5.2.1
 home: https://github.com/vmware-tanzu/velero
 icon: https://cdn-images-1.medium.com/max/1600/1*-9mb3AKnKdcL_QD3CMnthQ.png
 sources:
diff --git a/charts/velero/values.yaml b/charts/velero/values.yaml
index 0b9becee..791aa99e 100644
--- a/charts/velero/values.yaml
+++ b/charts/velero/values.yaml
@@ -33,7 +33,7 @@ namespace:
 # enabling node-agent). Required.
 image:
   repository: velero/velero
-  tag: v1.12.2
+  tag: v1.12.3
   # Digest value example: sha256:d238835e151cec91c6a811fe3a89a66d3231d9f64d09e5f3c49552672d271f38.
   # If used, it will take precedence over the image.tag.
   # digest: