diff --git a/Cargo.lock b/Cargo.lock
index a7bb1370d3258..bb997607436f3 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -111,6 +111,12 @@ dependencies = [
  "syn 2.0.66",
 ]
 
+[[package]]
+name = "atomic-waker"
+version = "1.1.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "1505bd5d3d116872e7271a6d4e16d81d0c8570876c8de68093a09ac269d8aac0"
+
 [[package]]
 name = "autocfg"
 version = "1.3.0"
@@ -119,18 +125,17 @@ checksum = "0c4b4d0bd25bd0b74681c0ad21497610ce1b7c91b1022cd21c80c6fbdd9476b0"
 
 [[package]]
 name = "axum"
-version = "0.6.20"
+version = "0.7.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3b829e4e32b91e643de6eafe82b1d90675f5874230191a4ffbc1b336dec4d6bf"
+checksum = "8f43644eed690f5374f1af436ecd6aea01cd201f6fbdf0178adaf6907afb2cec"
 dependencies = [
  "async-trait",
  "axum-core",
- "bitflags 1.3.2",
  "bytes",
  "futures-util",
- "http",
- "http-body",
- "hyper",
+ "http 1.1.0",
+ "http-body 1.0.1",
+ "http-body-util",
  "itoa",
  "matchit",
  "memchr",
@@ -139,25 +144,28 @@ dependencies = [
  "pin-project-lite",
  "rustversion",
  "serde",
- "sync_wrapper",
- "tower",
+ "sync_wrapper 1.0.1",
+ "tower 0.5.1",
  "tower-layer",
  "tower-service",
 ]
 
 [[package]]
 name = "axum-core"
-version = "0.3.4"
+version = "0.4.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "759fa577a247914fd3f7f76d62972792636412fbfd634cd452f6a385a74d2d2c"
+checksum = "5e6b8ba012a258d63c9adfa28b9ddcf66149da6f986c5b5452e629d5ee64bf00"
 dependencies = [
  "async-trait",
  "bytes",
  "futures-util",
- "http",
- "http-body",
+ "http 1.1.0",
+ "http-body 1.0.1",
+ "http-body-util",
  "mime",
+ "pin-project-lite",
  "rustversion",
+ "sync_wrapper 1.0.1",
  "tower-layer",
  "tower-service",
 ]
@@ -203,12 +211,6 @@ version = "0.22.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "72b3254f16251a8381aa12e40e3c4d2f0199f8c6508fbecb9d91f575e0fbb8c6"
 
-[[package]]
-name = "bitflags"
-version = "1.3.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bef38d45163c2f1dde094a7dfd33ccf595c92905c8f8f4fdc18d06fb1037718a"
-
 [[package]]
 name = "bitflags"
 version = "2.5.0"
@@ -633,7 +635,26 @@ dependencies = [
  "futures-core",
  "futures-sink",
  "futures-util",
- "http",
+ "http 0.2.12",
+ "indexmap 2.2.6",
+ "slab",
+ "tokio",
+ "tokio-util",
+ "tracing",
+]
+
+[[package]]
+name = "h2"
+version = "0.4.6"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "524e8ac6999421f49a846c2d4411f337e53497d8ec55d67753beffa43c5d9205"
+dependencies = [
+ "atomic-waker",
+ "bytes",
+ "fnv",
+ "futures-core",
+ "futures-sink",
+ "http 1.1.0",
  "indexmap 2.2.6",
  "slab",
  "tokio",
@@ -695,6 +716,17 @@ dependencies = [
  "itoa",
 ]
 
+[[package]]
+name = "http"
+version = "1.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "21b9ddb458710bc376481b842f5da65cdf31522de232c1ca8146abce2a358258"
+dependencies = [
+ "bytes",
+ "fnv",
+ "itoa",
+]
+
 [[package]]
 name = "http-body"
 version = "0.4.6"
@@ -702,7 +734,30 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "7ceab25649e9960c0311ea418d17bee82c0dcec1bd053b5f9a66e265a693bed2"
 dependencies = [
  "bytes",
- "http",
+ "http 0.2.12",
+ "pin-project-lite",
+]
+
+[[package]]
+name = "http-body"
+version = "1.0.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "1efedce1fb8e6913f23e0c92de8e62cd5b772a67e7b3946df930a62566c93184"
+dependencies = [
+ "bytes",
+ "http 1.1.0",
+]
+
+[[package]]
+name = "http-body-util"
+version = "0.1.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "793429d76616a256bcb62c2a2ec2bed781c8307e797e2598c50010f2bee2544f"
+dependencies = [
+ "bytes",
+ "futures-util",
+ "http 1.1.0",
+ "http-body 1.0.1",
  "pin-project-lite",
 ]
 
@@ -734,9 +789,9 @@ dependencies = [
  "futures-channel",
  "futures-core",
  "futures-util",
- "h2",
- "http",
- "http-body",
+ "h2 0.3.26",
+ "http 0.2.12",
+ "http-body 0.4.6",
  "httparse",
  "httpdate",
  "itoa",
@@ -748,14 +803,35 @@ dependencies = [
  "want",
 ]
 
+[[package]]
+name = "hyper"
+version = "1.4.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "50dfd22e0e76d0f662d429a5f80fcaf3855009297eab6a0a9f8543834744ba05"
+dependencies = [
+ "bytes",
+ "futures-channel",
+ "futures-util",
+ "h2 0.4.6",
+ "http 1.1.0",
+ "http-body 1.0.1",
+ "httparse",
+ "httpdate",
+ "itoa",
+ "pin-project-lite",
+ "smallvec",
+ "tokio",
+ "want",
+]
+
 [[package]]
 name = "hyper-openssl"
 version = "0.9.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "d6ee5d7a8f718585d1c3c61dfde28ef5b0bb14734b4db13f5ada856cdc6c612b"
 dependencies = [
- "http",
- "hyper",
+ "http 0.2.12",
+ "hyper 0.14.28",
  "linked_hash_set",
  "once_cell",
  "openssl",
@@ -773,8 +849,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "ec3efd23720e2049821a693cbc7e65ea87c72f1c58ff2f9522ff332b1491e590"
 dependencies = [
  "futures-util",
- "http",
- "hyper",
+ "http 0.2.12",
+ "hyper 0.14.28",
  "log",
  "rustls",
  "rustls-native-certs",
@@ -788,12 +864,44 @@ version = "0.4.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "bbb958482e8c7be4bc3cf272a766a2b0bf1a6755e7a6ae777f017a31d11b13b1"
 dependencies = [
- "hyper",
+ "hyper 0.14.28",
  "pin-project-lite",
  "tokio",
  "tokio-io-timeout",
 ]
 
+[[package]]
+name = "hyper-timeout"
+version = "0.5.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "3203a961e5c83b6f5498933e78b6b263e208c197b63e9c6c53cc82ffd3f63793"
+dependencies = [
+ "hyper 1.4.1",
+ "hyper-util",
+ "pin-project-lite",
+ "tokio",
+ "tower-service",
+]
+
+[[package]]
+name = "hyper-util"
+version = "0.1.9"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "41296eb09f183ac68eec06e03cdbea2e759633d4067b2f6552fc2e009bcad08b"
+dependencies = [
+ "bytes",
+ "futures-channel",
+ "futures-util",
+ "http 1.1.0",
+ "http-body 1.0.1",
+ "hyper 1.4.1",
+ "pin-project-lite",
+ "socket2",
+ "tokio",
+ "tower-service",
+ "tracing",
+]
+
 [[package]]
 name = "iana-time-zone"
 version = "0.1.61"
@@ -993,12 +1101,12 @@ dependencies = [
  "either",
  "futures",
  "home",
- "http",
- "http-body",
- "hyper",
+ "http 0.2.12",
+ "http-body 0.4.6",
+ "hyper 0.14.28",
  "hyper-openssl",
  "hyper-rustls",
- "hyper-timeout",
+ "hyper-timeout 0.4.1",
  "jsonpath-rust",
  "k8s-openapi",
  "kube-core",
@@ -1016,7 +1124,7 @@ dependencies = [
  "tokio",
  "tokio-tungstenite",
  "tokio-util",
- "tower",
+ "tower 0.4.13",
  "tower-http",
  "tracing",
 ]
@@ -1029,7 +1137,7 @@ checksum = "b5bba93d054786eba7994d03ce522f368ef7d48c88a1826faa28478d85fb63ae"
 dependencies = [
  "chrono",
  "form_urlencoded",
- "http",
+ "http 0.2.12",
  "json-patch",
  "k8s-openapi",
  "once_cell",
@@ -1093,7 +1201,7 @@ dependencies = [
  "drain",
  "futures-core",
  "futures-util",
- "hyper",
+ "hyper 0.14.28",
  "k8s-openapi",
  "kube-client",
  "kube-core",
@@ -1109,7 +1217,7 @@ dependencies = [
  "thiserror",
  "tokio",
  "tokio-rustls",
- "tower",
+ "tower 0.4.13",
  "tower-http",
  "tracing",
  "tracing-subscriber",
@@ -1175,7 +1283,7 @@ dependencies = [
  "clap",
  "drain",
  "futures",
- "hyper",
+ "hyper 0.14.28",
  "ipnet",
  "jemallocator",
  "k8s-openapi",
@@ -1195,7 +1303,7 @@ dependencies = [
  "thiserror",
  "tokio",
  "tokio-stream",
- "tonic",
+ "tonic 0.12.3",
  "tracing",
 ]
 
@@ -1208,7 +1316,7 @@ dependencies = [
  "async-trait",
  "chrono",
  "futures",
- "http",
+ "http 0.2.12",
  "ipnet",
  "regex",
 ]
@@ -1221,8 +1329,8 @@ dependencies = [
  "async-trait",
  "drain",
  "futures",
- "http",
- "hyper",
+ "http 0.2.12",
+ "hyper 0.14.28",
  "linkerd-policy-controller-core",
  "linkerd2-proxy-api",
  "maplit",
@@ -1230,7 +1338,7 @@ dependencies = [
  "serde",
  "serde_json",
  "tokio",
- "tonic",
+ "tonic 0.12.3",
  "tracing",
 ]
 
@@ -1259,7 +1367,7 @@ dependencies = [
  "anyhow",
  "chrono",
  "futures",
- "http",
+ "http 0.2.12",
  "k8s-openapi",
  "kube",
  "kubert",
@@ -1301,7 +1409,7 @@ version = "0.1.0"
 dependencies = [
  "anyhow",
  "futures",
- "hyper",
+ "hyper 0.14.28",
  "ipnet",
  "k8s-gateway-api",
  "k8s-openapi",
@@ -1317,7 +1425,7 @@ dependencies = [
  "serde_json",
  "tokio",
  "tokio-test",
- "tonic",
+ "tonic 0.12.3",
  "tracing",
  "tracing-subscriber",
 ]
@@ -1328,12 +1436,12 @@ version = "0.14.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "26c72fb98d969e1e94e95d52a6fcdf4693764702c369e577934256e72fb5bc61"
 dependencies = [
- "http",
+ "http 0.2.12",
  "ipnet",
  "prost",
  "prost-types",
  "thiserror",
- "tonic",
+ "tonic 0.10.2",
 ]
 
 [[package]]
@@ -1452,7 +1560,7 @@ version = "0.10.66"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "9529f4786b70a3e8c61e11179af17ab6188ad8d0ded78c5529441ed39d4bd9c1"
 dependencies = [
- "bitflags 2.5.0",
+ "bitflags",
  "cfg-if",
  "foreign-types",
  "libc",
@@ -1661,7 +1769,7 @@ version = "0.16.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "731e0d9356b0c25f16f33b5be79b1c57b562f141ebfcdb0ad8ac2c13a24293b4"
 dependencies = [
- "bitflags 2.5.0",
+ "bitflags",
  "hex",
  "lazy_static",
  "procfs-core",
@@ -1674,7 +1782,7 @@ version = "0.16.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2d3554923a69f4ce04c4a754260c338f505ce22642d3830e049a399fc2059a29"
 dependencies = [
- "bitflags 2.5.0",
+ "bitflags",
  "hex",
 ]
 
@@ -1778,7 +1886,7 @@ version = "0.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "469052894dcb553421e483e4209ee581a45100d31b4018de03e5a7ad86374a7e"
 dependencies = [
- "bitflags 2.5.0",
+ "bitflags",
 ]
 
 [[package]]
@@ -1852,7 +1960,7 @@ version = "0.38.36"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "3f55e80d50763938498dd5ebb18647174e0c76dc38c5505294bb224624f30f36"
 dependencies = [
- "bitflags 2.5.0",
+ "bitflags",
  "errno",
  "libc",
  "linux-raw-sys",
@@ -1979,7 +2087,7 @@ version = "2.11.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c627723fd09706bacdb5cf41499e95098555af3c3c29d014dc3c458ef6be11c0"
 dependencies = [
- "bitflags 2.5.0",
+ "bitflags",
  "core-foundation",
  "core-foundation-sys",
  "libc",
@@ -2173,6 +2281,12 @@ version = "0.1.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2047c6ded9c721764247e62cd3b03c09ffc529b2ba5b10ec482ae507a4a70160"
 
+[[package]]
+name = "sync_wrapper"
+version = "1.0.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a7065abeca94b6a8a577f9bd45aa0867a2238b74e8eb67cf10d492bc39351394"
+
 [[package]]
 name = "thiserror"
 version = "1.0.64"
@@ -2347,22 +2461,44 @@ version = "0.10.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "d560933a0de61cf715926b9cac824d4c883c2c43142f787595e48280c40a1d0e"
 dependencies = [
- "async-stream",
  "async-trait",
- "axum",
  "base64 0.21.7",
  "bytes",
- "h2",
- "http",
- "http-body",
- "hyper",
- "hyper-timeout",
+ "http 0.2.12",
+ "http-body 0.4.6",
  "percent-encoding",
  "pin-project",
  "prost",
  "tokio",
  "tokio-stream",
- "tower",
+ "tower-layer",
+ "tower-service",
+ "tracing",
+]
+
+[[package]]
+name = "tonic"
+version = "0.12.3"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "877c5b330756d856ffcc4553ab34a5684481ade925ecc54bcd1bf02b1d0d4d52"
+dependencies = [
+ "async-stream",
+ "axum",
+ "base64 0.22.1",
+ "bytes",
+ "h2 0.4.6",
+ "http 1.1.0",
+ "http-body 1.0.1",
+ "http-body-util",
+ "hyper 1.4.1",
+ "hyper-timeout 0.5.1",
+ "hyper-util",
+ "percent-encoding",
+ "pin-project",
+ "socket2",
+ "tokio",
+ "tokio-stream",
+ "tower 0.4.13",
  "tower-layer",
  "tower-service",
  "tracing",
@@ -2388,6 +2524,20 @@ dependencies = [
  "tracing",
 ]
 
+[[package]]
+name = "tower"
+version = "0.5.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "2873938d487c3cfb9aed7546dc9f2711d867c9f90c46b889989a2cb84eba6b4f"
+dependencies = [
+ "futures-core",
+ "futures-util",
+ "pin-project-lite",
+ "sync_wrapper 0.1.2",
+ "tower-layer",
+ "tower-service",
+]
+
 [[package]]
 name = "tower-http"
 version = "0.4.4"
@@ -2395,12 +2545,12 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "61c5bb1d698276a2443e5ecfabc1008bf15a36c12e6a7176e7bf089ea9131140"
 dependencies = [
  "base64 0.21.7",
- "bitflags 2.5.0",
+ "bitflags",
  "bytes",
  "futures-core",
  "futures-util",
- "http",
- "http-body",
+ "http 0.2.12",
+ "http-body 0.4.6",
  "http-range-header",
  "mime",
  "pin-project-lite",
@@ -2511,7 +2661,7 @@ dependencies = [
  "byteorder",
  "bytes",
  "data-encoding",
- "http",
+ "http 0.2.12",
  "httparse",
  "log",
  "rand",
diff --git a/policy-controller/Cargo.toml b/policy-controller/Cargo.toml
index e7e565e343ebf..cddb24fdeebb4 100644
--- a/policy-controller/Cargo.toml
+++ b/policy-controller/Cargo.toml
@@ -63,7 +63,7 @@ version = "1"
 features = ["macros", "parking_lot", "rt", "rt-multi-thread", "signal"]
 
 [dependencies.tonic]
-version = "0.10"
+version = "0.12"
 default-features = false
 features = ["transport"]
 
diff --git a/policy-controller/grpc/Cargo.toml b/policy-controller/grpc/Cargo.toml
index 7c0828f8aaa4b..8bbf80fc73ade 100644
--- a/policy-controller/grpc/Cargo.toml
+++ b/policy-controller/grpc/Cargo.toml
@@ -16,7 +16,7 @@ linkerd-policy-controller-core = { path = "../core" }
 maplit = "1"
 prost-types = "0.12.6"
 tokio = { version = "1", features = ["macros"] }
-tonic = { version = "0.10", default-features = false }
+tonic = { version = "0.12", default-features = false }
 tracing = "0.1"
 serde = { version = "1", features = ["derive"] }
 serde_json = "1"
diff --git a/policy-test/Cargo.toml b/policy-test/Cargo.toml
index 7726f8bfc1baf..944456a68304a 100644
--- a/policy-test/Cargo.toml
+++ b/policy-test/Cargo.toml
@@ -20,7 +20,7 @@ rand = "0.8"
 serde = "1"
 serde_json = "1"
 schemars = "0.8"
-tonic = { version = "0.10", default-features = false }
+tonic = { version = "0.12", default-features = false }
 tokio = { version = "1", features = ["macros", "rt"] }
 tracing = "0.1"
 tracing-subscriber = { version = "0.3", features = ["env-filter"] }