diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4567ad739265..120e5d1a8505 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -36,11 +36,14 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ## [Unreleased]
 
+### Improvements
+
+* (tendermint) [\#8316](https://github.com/cosmos/cosmos-sdk/pull/8316) Bump Tendermint version to [v0.34.2](https://github.com/tendermint/tendermint/releases/tag/v0.34.2)
+
 ### Bug Fixes
 
   * (x/auth) [\#8287](https://github.com/cosmos/cosmos-sdk/pull/8287) Fix `tx sign --signature-only` to return correct sequence value in signature.
 
-
 ## [v0.40.0](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.40.0) - 2021-01-08
 
 v0.40.0, known as the Stargate release of the Cosmos SDK, is one of the largest releases
diff --git a/go.mod b/go.mod
index 185962ff44a6..d7b0e4c2f0af 100644
--- a/go.mod
+++ b/go.mod
@@ -46,7 +46,7 @@ require (
 	github.com/tendermint/btcd v0.1.1
 	github.com/tendermint/crypto v0.0.0-20191022145703-50d29ede1e15
 	github.com/tendermint/go-amino v0.16.0
-	github.com/tendermint/tendermint v0.34.1
+	github.com/tendermint/tendermint v0.34.2
 	github.com/tendermint/tm-db v0.6.3
 	golang.org/x/crypto v0.0.0-20201221181555-eec23a3978ad
 	golang.org/x/net v0.0.0-20200930145003-4acb6c075d10 // indirect
diff --git a/go.sum b/go.sum
index b9231e178ea5..c6f3183a55e4 100644
--- a/go.sum
+++ b/go.sum
@@ -562,8 +562,8 @@ github.com/tendermint/tendermint v0.34.0-rc4/go.mod h1:yotsojf2C1QBOw4dZrTcxbyxm
 github.com/tendermint/tendermint v0.34.0-rc6/go.mod h1:ugzyZO5foutZImv0Iyx/gOFCX6mjJTgbLHTwi17VDVg=
 github.com/tendermint/tendermint v0.34.0 h1:eXCfMgoqVSzrjzOj6clI9GAejcHH0LvOlRjpCmMJksU=
 github.com/tendermint/tendermint v0.34.0/go.mod h1:Aj3PIipBFSNO21r+Lq3TtzQ+uKESxkbA3yo/INM4QwQ=
-github.com/tendermint/tendermint v0.34.1 h1:TsJXY8+1NThc/XIENMv1ENzazriHBJJjeP6hN3kpC8g=
-github.com/tendermint/tendermint v0.34.1/go.mod h1:Aj3PIipBFSNO21r+Lq3TtzQ+uKESxkbA3yo/INM4QwQ=
+github.com/tendermint/tendermint v0.34.2 h1:bB4xReGw4jalTDeNg0npYoONuZrD55F90LrWPF4m/PQ=
+github.com/tendermint/tendermint v0.34.2/go.mod h1:Aj3PIipBFSNO21r+Lq3TtzQ+uKESxkbA3yo/INM4QwQ=
 github.com/tendermint/tm-db v0.6.2/go.mod h1:GYtQ67SUvATOcoY8/+x6ylk8Qo02BQyLrAs+yAcLvGI=
 github.com/tendermint/tm-db v0.6.3 h1:ZkhQcKnB8/2jr5EaZwGndN4owkPsGezW2fSisS9zGbg=
 github.com/tendermint/tm-db v0.6.3/go.mod h1:lfA1dL9/Y/Y8wwyPp2NMLyn5P5Ptr/gvDFNWtrCWSf8=