diff --git a/Cargo.lock b/Cargo.lock
index 6a9f908457ad..ac3f7941f220 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -11852,9 +11852,9 @@ checksum = "cda74da7e1a664f795bb1f8a87ec406fb89a02522cf6e50620d016add6dbbf5c"
 
 [[package]]
 name = "tokio"
-version = "1.22.0"
+version = "1.23.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d76ce4a75fb488c605c54bf610f221cea8b0dafb53333c1a67e8ee199dcd2ae3"
+checksum = "38a54aca0c15d014013256222ba0ebed095673f89345dd79119d912eb561b7a8"
 dependencies = [
  "autocfg",
  "bytes",
@@ -11867,7 +11867,7 @@ dependencies = [
  "signal-hook-registry",
  "socket2",
  "tokio-macros",
- "winapi",
+ "windows-sys 0.42.0",
 ]
 
 [[package]]
diff --git a/Cargo.toml b/Cargo.toml
index 6d01e2b25553..723df38bfb4a 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -27,7 +27,7 @@ tikv-jemallocator = "0.5.0"
 assert_cmd = "2.0.4"
 nix = "0.24.1"
 tempfile = "3.2.0"
-tokio = "1.22.0"
+tokio = "1.23.1"
 substrate-rpc-client = { git = "https://github.com/paritytech/substrate", branch = "master" }
 polkadot-core-primitives = { path = "core-primitives" }
  
diff --git a/node/jaeger/Cargo.toml b/node/jaeger/Cargo.toml
index b940307a4920..116224bf3673 100644
--- a/node/jaeger/Cargo.toml
+++ b/node/jaeger/Cargo.toml
@@ -14,6 +14,6 @@ polkadot-node-primitives = { path = "../primitives" }
 sc-network = { git = "https://github.com/paritytech/substrate", branch = "master" }
 sp-core = { git = "https://github.com/paritytech/substrate", branch = "master" }
 thiserror = "1.0.31"
-tokio = "1.22.0"
+tokio = "1.23.1"
 log = "0.4.17"
 parity-scale-codec = { version = "3.1.5", default-features = false }
diff --git a/node/metrics/Cargo.toml b/node/metrics/Cargo.toml
index b49928dc8462..67e5f126f902 100644
--- a/node/metrics/Cargo.toml
+++ b/node/metrics/Cargo.toml
@@ -28,7 +28,7 @@ assert_cmd = "2.0.4"
 nix = "0.24.1"
 tempfile = "3.2.0"
 hyper = { version = "0.14.20", default-features = false, features = ["http1", "tcp"] }
-tokio = "1.22.0"
+tokio = "1.23.1"
 polkadot-test-service = { path = "../test/service", features=["runtime-metrics"]}
 substrate-test-utils = { git = "https://github.com/paritytech/substrate", branch = "master" }
 sc-service = { git = "https://github.com/paritytech/substrate", branch = "master" }
diff --git a/node/test/service/Cargo.toml b/node/test/service/Cargo.toml
index 6fab3150a623..a3c466de98f8 100644
--- a/node/test/service/Cargo.toml
+++ b/node/test/service/Cargo.toml
@@ -10,7 +10,7 @@ hex = "0.4.3"
 gum = { package = "tracing-gum", path = "../../gum" }
 rand = "0.8.5"
 tempfile = "3.2.0"
-tokio = "1.22.0"
+tokio = "1.23.1"
 
 # Polkadot dependencies
 polkadot-overseer = { path = "../../overseer" }
@@ -61,7 +61,7 @@ substrate-test-client = { git = "https://github.com/paritytech/substrate", branc
 pallet-balances = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
 serde_json = "1.0.81"
 substrate-test-utils = { git = "https://github.com/paritytech/substrate", branch = "master" }
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
 
 [features]
 runtime-metrics=["polkadot-test-runtime/runtime-metrics"]
diff --git a/node/zombienet-backchannel/Cargo.toml b/node/zombienet-backchannel/Cargo.toml
index 74e6751eb7de..cc37ba9fc910 100644
--- a/node/zombienet-backchannel/Cargo.toml
+++ b/node/zombienet-backchannel/Cargo.toml
@@ -9,7 +9,7 @@ authors.workspace = true
 edition.workspace = true
 
 [dependencies]
-tokio = { version = "1.22.0", default-features = false, features = ["macros", "net", "rt-multi-thread", "sync"] }
+tokio = { version = "1.23.1", default-features = false, features = ["macros", "net", "rt-multi-thread", "sync"] }
 url = "2.0.0"
 tokio-tungstenite = "0.17"
 futures-util = "0.3.23"
diff --git a/parachain/test-parachains/adder/collator/Cargo.toml b/parachain/test-parachains/adder/collator/Cargo.toml
index 3f13eecb96e3..e556850fb6fd 100644
--- a/parachain/test-parachains/adder/collator/Cargo.toml
+++ b/parachain/test-parachains/adder/collator/Cargo.toml
@@ -44,4 +44,4 @@ substrate-test-utils = { git = "https://github.com/paritytech/substrate", branch
 sc-service = { git = "https://github.com/paritytech/substrate", branch = "master" }
 sp-keyring = { git = "https://github.com/paritytech/substrate", branch = "master" }
 
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
diff --git a/parachain/test-parachains/undying/collator/Cargo.toml b/parachain/test-parachains/undying/collator/Cargo.toml
index 2543b6f91930..243ac81b659f 100644
--- a/parachain/test-parachains/undying/collator/Cargo.toml
+++ b/parachain/test-parachains/undying/collator/Cargo.toml
@@ -44,4 +44,4 @@ substrate-test-utils = { git = "https://github.com/paritytech/substrate", branch
 sc-service = { git = "https://github.com/paritytech/substrate", branch = "master" }
 sp-keyring = { git = "https://github.com/paritytech/substrate", branch = "master" }
 
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
diff --git a/runtime/kusama/Cargo.toml b/runtime/kusama/Cargo.toml
index 744220a84681..02f435350f1f 100644
--- a/runtime/kusama/Cargo.toml
+++ b/runtime/kusama/Cargo.toml
@@ -109,7 +109,7 @@ sp-trie = { git = "https://github.com/paritytech/substrate", branch = "master" }
 separator = "0.4.1"
 serde_json = "1.0.81"
 remote-externalities = { git = "https://github.com/paritytech/substrate", branch = "master", package = "frame-remote-externalities" }
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
 sp-tracing = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
 
 [build-dependencies]
diff --git a/runtime/polkadot/Cargo.toml b/runtime/polkadot/Cargo.toml
index 941171392dac..f7abb19d78fc 100644
--- a/runtime/polkadot/Cargo.toml
+++ b/runtime/polkadot/Cargo.toml
@@ -101,7 +101,7 @@ sp-trie = { git = "https://github.com/paritytech/substrate", branch = "master" }
 serde_json = "1.0.81"
 separator = "0.4.1"
 remote-externalities = { git = "https://github.com/paritytech/substrate", branch = "master", package = "frame-remote-externalities" }
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
 sp-tracing = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
 
 [build-dependencies]
diff --git a/runtime/rococo/Cargo.toml b/runtime/rococo/Cargo.toml
index 0e07e073bd35..39e38bbad8df 100644
--- a/runtime/rococo/Cargo.toml
+++ b/runtime/rococo/Cargo.toml
@@ -98,7 +98,7 @@ sp-trie = { git = "https://github.com/paritytech/substrate", branch = "master" }
 separator = "0.4.1"
 serde_json = "1.0.81"
 sp-tracing = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
 
 [build-dependencies]
 substrate-wasm-builder = { git = "https://github.com/paritytech/substrate", branch = "master" }
diff --git a/runtime/westend/Cargo.toml b/runtime/westend/Cargo.toml
index 5afa4469876f..32d16a3ca94e 100644
--- a/runtime/westend/Cargo.toml
+++ b/runtime/westend/Cargo.toml
@@ -101,7 +101,7 @@ keyring = { package = "sp-keyring", git = "https://github.com/paritytech/substra
 sp-trie = { git = "https://github.com/paritytech/substrate", branch = "master" }
 serde_json = "1.0.81"
 remote-externalities = { git = "https://github.com/paritytech/substrate", branch = "master", package = "frame-remote-externalities" }
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
 sp-tracing = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
 
 [build-dependencies]
diff --git a/utils/remote-ext-tests/bags-list/Cargo.toml b/utils/remote-ext-tests/bags-list/Cargo.toml
index d77d2017aab3..bdc0690f3dc2 100644
--- a/utils/remote-ext-tests/bags-list/Cargo.toml
+++ b/utils/remote-ext-tests/bags-list/Cargo.toml
@@ -19,4 +19,4 @@ sp-core = { git = "https://github.com/paritytech/substrate", branch = "master" }
 
 clap = { version = "4.0.9", features = ["derive"] }
 log = "0.4.17"
-tokio = { version = "1.22.0", features = ["macros"] }
+tokio = { version = "1.23.1", features = ["macros"] }
diff --git a/utils/staking-miner/Cargo.toml b/utils/staking-miner/Cargo.toml
index 63810aaa2fd6..abc632c3dd89 100644
--- a/utils/staking-miner/Cargo.toml
+++ b/utils/staking-miner/Cargo.toml
@@ -14,7 +14,7 @@ paste = "1.0.7"
 serde = "1.0.137"
 serde_json = "1.0"
 thiserror = "1.0.31"
-tokio = { version = "1.22.0", features = ["macros", "rt-multi-thread", "sync"] }
+tokio = { version = "1.23.1", features = ["macros", "rt-multi-thread", "sync"] }
 remote-externalities = { git = "https://github.com/paritytech/substrate", branch = "master", package = "frame-remote-externalities" }
 signal-hook-tokio = { version = "0.3", features = ["futures-v0_3"] }
 sp-core = { git = "https://github.com/paritytech/substrate", branch = "master" }