diff --git a/build/dependencies.yaml b/build/dependencies.yaml
index 62fe217b80c..c8446d6f778 100644
--- a/build/dependencies.yaml
+++ b/build/dependencies.yaml
@@ -52,10 +52,6 @@ dependencies:
       match: ETCD_VERSION
     - path: cluster/gce/upgrade-aliases.sh
       match: ETCD_IMAGE|ETCD_VERSION
-    - path: cluster/images/etcd/Makefile
-      match: BUNDLED_ETCD_VERSIONS\?|LATEST_ETCD_VERSION\?
-    - path: cluster/images/etcd/migrate-if-needed.sh
-      match: BUNDLED_VERSIONS=
     - path: cmd/kubeadm/app/constants/constants.go
     - path: hack/lib/etcd.sh
       match: ETCD_VERSION=
@@ -64,6 +60,14 @@ dependencies:
     - path: test/e2e/framework/nodes_util.go
       match: const etcdImage
 
+  - name: "etcd-image"
+    version: 3.4.9
+    refPaths:
+    - path: cluster/images/etcd/Makefile
+      match: BUNDLED_ETCD_VERSIONS\?|LATEST_ETCD_VERSION\?
+    - path: cluster/images/etcd/migrate-if-needed.sh
+      match: BUNDLED_VERSIONS=
+
   - name: "golang"
     version: 1.13.9
     refPaths:
diff --git a/cluster/images/etcd/Makefile b/cluster/images/etcd/Makefile
index 49612dadfd9..af55287424d 100644
--- a/cluster/images/etcd/Makefile
+++ b/cluster/images/etcd/Makefile
@@ -15,7 +15,7 @@
 # Build the etcd image
 #
 # Usage:
-# 	[BUNDLED_ETCD_VERSIONS=3.0.17 3.1.12 3.2.24 3.3.17 3.4.7] [REGISTRY=k8s.gcr.io] [ARCH=amd64] [BASEIMAGE=busybox] make (build|push)
+# 	[BUNDLED_ETCD_VERSIONS=3.0.17 3.1.12 3.2.24 3.3.17 3.4.9] [REGISTRY=k8s.gcr.io] [ARCH=amd64] [BASEIMAGE=busybox] make (build|push)
 #
 # The image contains different etcd versions to simplify
 # upgrades. Thus be careful when removing any versions from here.
@@ -26,15 +26,15 @@
 # Except from etcd-$(version) and etcdctl-$(version) binaries, we also
 # need etcd and etcdctl binaries for backward compatibility reasons.
 # That binary will be set to the last version from $(BUNDLED_ETCD_VERSIONS).
-BUNDLED_ETCD_VERSIONS?=3.0.17 3.1.12 3.2.24 3.3.17 3.4.7
+BUNDLED_ETCD_VERSIONS?=3.0.17 3.1.12 3.2.24 3.3.17 3.4.9
 
 # LATEST_ETCD_VERSION identifies the most recent etcd version available.
-LATEST_ETCD_VERSION?=3.4.7
+LATEST_ETCD_VERSION?=3.4.9
 
 # REVISION provides a version number fo this image and all it's bundled
 # artifacts. It should start at zero for each LATEST_ETCD_VERSION and increment
 # for each revision of this image at that etcd version.
-REVISION?=2
+REVISION?=0
 
 # IMAGE_TAG Uniquely identifies k8s.gcr.io/etcd docker image with a tag of the form "<etcd-version>-<revision>".
 IMAGE_TAG=$(LATEST_ETCD_VERSION)-$(REVISION)
@@ -61,7 +61,7 @@ endif
 
 # This option is for running docker manifest command
 export DOCKER_CLI_EXPERIMENTAL := enabled
-# golang version should match the golang version from https://github.com/coreos/etcd/releases for the current ETCD_VERSION.
+# golang version should match the golang version of the official build from https://github.com/etcd-io/etcd/releases.
 GOLANG_VERSION?=1.12.17
 GOARM?=7
 TEMP_DIR:=$(shell mktemp -d)
diff --git a/cluster/images/etcd/README.md b/cluster/images/etcd/README.md
index cbe0f8ac69b..f60cdd97d5a 100644
--- a/cluster/images/etcd/README.md
+++ b/cluster/images/etcd/README.md
@@ -26,7 +26,7 @@ server.
 
 `migrate` writes a `version.txt` file to track the "current" version
 of etcd that was used to persist data to disk. A "target" version may also be provided
-by the `TARGET_STORAGE` (e.g. "etcd3") and `TARGET_VERSION` (e.g. "3.4.7" )
+by the `TARGET_STORAGE` (e.g. "etcd3") and `TARGET_VERSION` (e.g. "3.4.9" )
 environment variables. If the persisted version differs from the target version,
 `migrate-if-needed.sh` will migrate the data from the current to the target
 version.
diff --git a/cluster/images/etcd/migrate-if-needed.sh b/cluster/images/etcd/migrate-if-needed.sh
index 15177c19283..ace1f569cdb 100755
--- a/cluster/images/etcd/migrate-if-needed.sh
+++ b/cluster/images/etcd/migrate-if-needed.sh
@@ -19,7 +19,7 @@
 # variables:
 # TARGET_STORAGE - API of etcd to be used (supported: 'etcd3')
 # TARGET_VERSION - etcd release to be used (supported: '3.0.17', '3.1.12',
-# '3.2.24', "3.3.17", "3.4.7")
+# '3.2.24', "3.3.17", "3.4.9")
 # DATA_DIRECTORY - directory with etcd data
 #
 # The current etcd version and storage format is detected based on the
@@ -30,7 +30,7 @@
 # - 3.0.17/etcd3 -> 3.1.12/etcd3
 # - 3.1.12/etcd3 -> 3.2.24/etcd3
 # - 3.2.24/etcd3 -> 3.3.17/etcd3
-# - 3.3.17/etcd3 -> 3.4.7/etcd3
+# - 3.3.17/etcd3 -> 3.4.9/etcd3
 #
 # NOTE: The releases supported in this script has to match release binaries
 # present in the etcd image (to make this script work correctly).
@@ -43,7 +43,7 @@ set -o nounset
 
 # NOTE: BUNDLED_VERSION has to match release binaries present in the
 # etcd image (to make this script work correctly).
-BUNDLED_VERSIONS="3.0.17, 3.1.12, 3.2.24, 3.3.17, 3.4.7"
+BUNDLED_VERSIONS="3.0.17, 3.1.12, 3.2.24, 3.3.17, 3.4.9"
 
 # shellcheck disable=SC2039
 ETCD_NAME="${ETCD_NAME:-etcd-${ETCD_HOSTNAME:-$(hostname -s)}}"