diff --git a/rust-toolchain.toml b/rust-toolchain.toml
index 3d4a0ed226..0961db86de 100644
--- a/rust-toolchain.toml
+++ b/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
 # Keep in sync with versions.yaml
-channel = "1.93"
+channel = "1.94"
diff --git a/versions.yaml b/versions.yaml
index 69fb34b0ba..a01b66bf0e 100644
--- a/versions.yaml
+++ b/versions.yaml
@@ -480,12 +480,12 @@ languages:
     description: "Rust language"
     notes: "'version' is the default minimum version used by this project."
     # Keep in sync with rust-toolchain.toml
-    version: "1.93"
+    version: "1.94"
     meta:
       description: |
         'newest-version' is the latest version known to work when
         building Kata
-      newest-version: "1.93"
+      newest-version: "1.94"
 
   golangci-lint:
     description: "golangci-lint"