diff --git a/kustomization/components/kubevirt-operator/kustomization.yml b/kustomization/components/kubevirt-operator/kustomization.yml
index cc12faac7..4005e7b9b 100644
--- a/kustomization/components/kubevirt-operator/kustomization.yml
+++ b/kustomization/components/kubevirt-operator/kustomization.yml
@@ -4,4 +4,4 @@ kind: Component
 
 resources:
   # renovate: datasource=github-releases
-  - https://github.com/kubevirt/kubevirt/releases/download/v1.2.0/kubevirt-operator.yaml
+  - https://github.com/kubevirt/kubevirt/releases/download/v1.2.1/kubevirt-operator.yaml
diff --git a/roles/devsetup/tasks/main.yml b/roles/devsetup/tasks/main.yml
index 3df13d575..19efcbe43 100644
--- a/roles/devsetup/tasks/main.yml
+++ b/roles/devsetup/tasks/main.yml
@@ -76,6 +76,6 @@
     # renovate: datasource=github-releases depName=starship/starship
     starship_version: v1.19.0
     # renovate: datasource=github-releases depName=kubevirt/kubevirt
-    virtctl_version: v1.2.0
+    virtctl_version: v1.2.1
 
 - import_tasks: shell.yml