diff --git a/CHANGELOG.md b/CHANGELOG.md
index a8e25815ed7..f191d477214 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -40,6 +40,10 @@ Ref: https://keepachangelog.com/en/1.0.0/
 ### Improvements
 * (baseapp) [\#10631](https://github.com/cosmos/cosmos-sdk/pull/10631)  Emit ante events even for the failed txs. 
 
+### Bug Fixes
+
+* [\#10648](https://github.com/cosmos/cosmos-sdk/pull/10648) Upgrade IAVL to 0.17.3 to solve race condition bug in IAVL.
+
 ## [v0.44.4](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.44.4) - 2021-11-25
 
 ### Improvements
diff --git a/go.mod b/go.mod
index 436ff132250..3e72333e1ff 100644
--- a/go.mod
+++ b/go.mod
@@ -11,7 +11,7 @@ require (
 	github.com/confio/ics23/go v0.6.6
 	github.com/cosmos/btcutil v1.0.4
 	github.com/cosmos/go-bip39 v1.0.0
-	github.com/cosmos/iavl v0.17.2
+	github.com/cosmos/iavl v0.17.3
 	github.com/cosmos/ledger-cosmos-go v0.11.1
 	github.com/gogo/gateway v1.1.0
 	github.com/gogo/protobuf v1.3.3
diff --git a/go.sum b/go.sum
index 940c4a3156d..9696b784f8a 100644
--- a/go.sum
+++ b/go.sum
@@ -178,8 +178,8 @@ github.com/cosmos/btcutil v1.0.4/go.mod h1:Ffqc8Hn6TJUdDgHBwIZLtrLQC1KdJ9jGJl/Tv
 github.com/cosmos/go-bip39 v0.0.0-20180819234021-555e2067c45d/go.mod h1:tSxLoYXyBmiFeKpvmq4dzayMdCjCnu8uqmCysIGBT2Y=
 github.com/cosmos/go-bip39 v1.0.0 h1:pcomnQdrdH22njcAatO0yWojsUnCO3y2tNoV1cb6hHY=
 github.com/cosmos/go-bip39 v1.0.0/go.mod h1:RNJv0H/pOIVgxw6KS7QeX2a0Uo0aKUlfhZ4xuwvCdJw=
-github.com/cosmos/iavl v0.17.2 h1:BT2u7DUvLLB+RYz9RItn/8n7Bt5xe5rj8QRTkk/PQU0=
-github.com/cosmos/iavl v0.17.2/go.mod h1:prJoErZFABYZGDHka1R6Oay4z9PrNeFFiMKHDAMOi4w=
+github.com/cosmos/iavl v0.17.3 h1:s2N819a2olOmiauVa0WAhoIJq9EhSXE9HDBAoR9k+8Y=
+github.com/cosmos/iavl v0.17.3/go.mod h1:prJoErZFABYZGDHka1R6Oay4z9PrNeFFiMKHDAMOi4w=
 github.com/cosmos/keyring v1.1.7-0.20210622111912-ef00f8ac3d76 h1:DdzS1m6o/pCqeZ8VOAit/gyATedRgjvkVI+UCrLpyuU=
 github.com/cosmos/keyring v1.1.7-0.20210622111912-ef00f8ac3d76/go.mod h1:0mkLWIoZuQ7uBoospo5Q9zIpqq6rYCPJDSUdeCJvPM8=
 github.com/cosmos/ledger-cosmos-go v0.11.1 h1:9JIYsGnXP613pb2vPjFeMMjBI5lEDsEaF6oYorTy6J4=