diff --git a/build/dependencies.yaml b/build/dependencies.yaml
index 4fc0c6f9bc0..b6734840d98 100644
--- a/build/dependencies.yaml
+++ b/build/dependencies.yaml
@@ -55,7 +55,7 @@ dependencies:
 
   # protoc
   - name: "protoc"
-    version: 3.19.4
+    version: 23.4
     refPaths:
     - path: hack/lib/protoc.sh
       match: PROTOC_VERSION=
diff --git a/hack/lib/protoc.sh b/hack/lib/protoc.sh
index 5c1e9a372a1..82c781cd18a 100644
--- a/hack/lib/protoc.sh
+++ b/hack/lib/protoc.sh
@@ -25,7 +25,7 @@ set -o pipefail
 KUBE_ROOT="$(cd "$(dirname "${BASH_SOURCE[0]}")/../.." && pwd -P)"
 source "${KUBE_ROOT}/hack/lib/init.sh"
 
-PROTOC_VERSION=3.19.4
+PROTOC_VERSION=23.4
 
 # Generates $1/api.pb.go from the protobuf file $1/api.proto
 # and formats it correctly