diff --git a/Cargo.toml b/Cargo.toml
index 6f839b238d0..f03f364ae64 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -97,7 +97,7 @@ libp2p-uds = { version = "0.31.0", path = "transports/uds", optional = true }
 libp2p-wasm-ext = { version = "0.31.0", path = "transports/wasm-ext", default-features = false, optional = true }
 libp2p-yamux = { version = "0.35.0", path = "muxers/yamux", optional = true }
 multiaddr = { version = "0.13.0" }
-parking_lot = "0.11.0"
+parking_lot = "0.12.0"
 pin-project = "1.0.0"
 rand = "0.7.3" # Explicit dependency to be used in `wasm-bindgen` feature
 smallvec = "1.6.1"
diff --git a/core/Cargo.toml b/core/Cargo.toml
index 822911d3c7a..fdfa0495f83 100644
--- a/core/Cargo.toml
+++ b/core/Cargo.toml
@@ -26,7 +26,7 @@ multiaddr = { version = "0.13.0" }
 multihash = { version = "0.14", default-features = false, features = ["std", "multihash-impl", "identity", "sha2"] }
 multistream-select = { version = "0.11", path = "../misc/multistream-select" }
 p256 = { version = "0.10.0", default-features = false, features = ["ecdsa"], optional = true }
-parking_lot = "0.11.0"
+parking_lot = "0.12.0"
 pin-project = "1.0.0"
 prost = "0.9"
 rand = "0.8"
diff --git a/muxers/mplex/Cargo.toml b/muxers/mplex/Cargo.toml
index e7776864629..69874540d9d 100644
--- a/muxers/mplex/Cargo.toml
+++ b/muxers/mplex/Cargo.toml
@@ -17,7 +17,7 @@ asynchronous-codec = "0.6"
 libp2p-core = { version = "0.31.0", path = "../../core", default-features = false }
 log = "0.4"
 nohash-hasher = "0.2"
-parking_lot = "0.11"
+parking_lot = "0.12"
 rand = "0.7"
 smallvec = "1.6.1"
 unsigned-varint = { version = "0.7", features = ["asynchronous_codec"] }
diff --git a/muxers/yamux/Cargo.toml b/muxers/yamux/Cargo.toml
index 3a25f9e3277..7d08570c020 100644
--- a/muxers/yamux/Cargo.toml
+++ b/muxers/yamux/Cargo.toml
@@ -13,6 +13,6 @@ categories = ["network-programming", "asynchronous"]
 [dependencies]
 futures = "0.3.1"
 libp2p-core = { version = "0.31.0", path = "../../core", default-features = false }
-parking_lot = "0.11"
+parking_lot = "0.12"
 thiserror = "1.0"
 yamux = "0.10.0"