diff --git a/.gitmodules b/.gitmodules
index 37455d1bb64c2..2864085bf85bf 100644
--- a/.gitmodules
+++ b/.gitmodules
@@ -7,4 +7,4 @@
 [submodule "cmake/external/emsdk"]
 	path = cmake/external/emsdk
 	url = https://github.com/emscripten-core/emsdk.git
-	branch = 4.0.21
+	branch = 4.0.23
diff --git a/cmake/external/emsdk b/cmake/external/emsdk
index b2436aafa7351..c0bb220cb6e6f 160000
--- a/cmake/external/emsdk
+++ b/cmake/external/emsdk
@@ -1 +1 @@
-Subproject commit b2436aafa7351ee1b581f15841f1b45ed716a279
+Subproject commit c0bb220cb6e6f4e0fabb6f6db9efd53390ef5e56
diff --git a/tools/ci_build/build_args.py b/tools/ci_build/build_args.py
index 33d6c39de1aad..5db5758cd6c69 100644
--- a/tools/ci_build/build_args.py
+++ b/tools/ci_build/build_args.py
@@ -372,7 +372,7 @@ def add_webassembly_args(parser: argparse.ArgumentParser) -> None:
     """Adds arguments for WebAssembly (WASM) platform builds."""
     parser.add_argument("--build_wasm", action="store_true", help="Build for WebAssembly.")
     parser.add_argument("--build_wasm_static_lib", action="store_true", help="Build WebAssembly static library.")
-    parser.add_argument("--emsdk_version", default="4.0.21", help="Specify version of emsdk.")
+    parser.add_argument("--emsdk_version", default="4.0.23", help="Specify version of emsdk.")
     parser.add_argument(
         "--enable_wasm_jspi", action="store_true", help="Enable WebAssembly JavaScript Promise Integration."
     )
diff --git a/tools/ci_build/github/azure-pipelines/templates/linux-wasm-ci.yml b/tools/ci_build/github/azure-pipelines/templates/linux-wasm-ci.yml
index 6cb16313ef309..ef30a49b0fb83 100644
--- a/tools/ci_build/github/azure-pipelines/templates/linux-wasm-ci.yml
+++ b/tools/ci_build/github/azure-pipelines/templates/linux-wasm-ci.yml
@@ -96,15 +96,15 @@ jobs:
     - script: |
         set -ex
         cd '$(Build.SourcesDirectory)/cmake/external/emsdk'
-        ./emsdk install 4.0.21 ccache-git-emscripten-64bit
-        ./emsdk activate 4.0.21 ccache-git-emscripten-64bit
+        ./emsdk install 4.0.23 ccache-git-emscripten-64bit
+        ./emsdk activate 4.0.23 ccache-git-emscripten-64bit
       displayName: 'emsdk install and activate ccache for emscripten'
   - ${{if eq(parameters.WithCache, false)}}:
     - script: |
         set -ex
         cd '$(Build.SourcesDirectory)/cmake/external/emsdk'
-        ./emsdk install 4.0.21
-        ./emsdk activate 4.0.21
+        ./emsdk install 4.0.23
+        ./emsdk activate 4.0.23
       displayName: 'emsdk install and activate ccache for emscripten'
 
   - template: build-linux-wasm-step.yml