diff --git a/bazel/repository.bzl b/bazel/repository.bzl
index 847b8bb9d1..b90cff5e48 100644
--- a/bazel/repository.bzl
+++ b/bazel/repository.bzl
@@ -158,10 +158,10 @@ def opentelemetry_cpp_deps():
         http_archive,
         name = "com_github_thrift",
         build_file_content = _ALL_CONTENT,
-        sha256 = "5ae1c4d16452a22eaf9d802ba7489907147c2b316ff38c9758918552fae5132c",
-        strip_prefix = "thrift-0.14.1",
+        sha256 = "9cea30b9700153329ae1926cc05a20bbe3e8451ae270b0c8c5c5fe9929924cb3",
+        strip_prefix = "thrift-0.18.1",
         urls = [
-            "https://github.com/apache/thrift/archive/refs/tags/v0.14.1.tar.gz",
+            "https://github.com/apache/thrift/archive/refs/tags/v0.18.1.tar.gz",
         ],
     )
 
diff --git a/ci/do_ci.sh b/ci/do_ci.sh
index 64d3b72308..49bb4abb2c 100755
--- a/ci/do_ci.sh
+++ b/ci/do_ci.sh
@@ -412,7 +412,7 @@ elif [[ "$1" == "code.coverage" ]]; then
   exit 0
 elif [[ "$1" == "third_party.tags" ]]; then
   echo "gRPC=v1.49.2" > third_party_release
-  echo "thrift=0.14.1" >> third_party_release
+  echo "thrift=0.18.1" >> third_party_release
   echo "abseil=20220623.1" >> third_party_release
   git submodule foreach --quiet 'echo "$name=$(git describe --tags HEAD)"' | sed 's:.*/::' >> third_party_release
   exit 0
diff --git a/ci/setup_thrift.sh b/ci/setup_thrift.sh
index 1c8897089f..30d63ac989 100755
--- a/ci/setup_thrift.sh
+++ b/ci/setup_thrift.sh
@@ -5,7 +5,7 @@
 
 set -e
 export DEBIAN_FRONTEND=noninteractive
-export THRIFT_VERSION=0.14.1
+export THRIFT_VERSION=0.18.1
 
 install_dir='/usr/local/'
 while getopts ":i:" o; do
diff --git a/docker/Dockerfile.centos b/docker/Dockerfile.centos
index c95595691b..fff9da4857 100644
--- a/docker/Dockerfile.centos
+++ b/docker/Dockerfile.centos
@@ -37,7 +37,7 @@ RUN git clone --depth=1 -b $GRPC_VERSION  https://github.com/grpc/grpc.git \
     make -j${nproc} install && make clean && ldconfig
 
 # install thrift
-ARG THRIFT_VERSION=0.14.1
+ARG THRIFT_VERSION=0.18.1
 RUN yum install -y \
         boost169-devel \
         libevent-devel \
diff --git a/docker/Dockerfile.debian.deps b/docker/Dockerfile.debian.deps
index 9ee7e9519b..ff311584d6 100644
--- a/docker/Dockerfile.debian.deps
+++ b/docker/Dockerfile.debian.deps
@@ -26,7 +26,7 @@ FROM base as thrift
 RUN apt-get install -y --no-install-recommends wget
 
 # install thrift
-ARG THRIFT_VERSION=0.14.1
+ARG THRIFT_VERSION=0.18.1
 ADD setup_thrift.sh .
 RUN ./setup_thrift.sh -i "/opt/otel-cpp"
 
diff --git a/docker/README.md b/docker/README.md
index 165667117c..a245dcf3c7 100644
--- a/docker/README.md
+++ b/docker/README.md
@@ -7,7 +7,7 @@ it's dependencies within the desired base image.
 The final image only contains the necessary files in `/`.
 
 ```sh
-bash build.sh -b alpine -j ${nproc} -g v1.43.2 -o v1.3.0 -t 0.14.1
+bash build.sh -b alpine -j ${nproc} -g v1.43.2 -o v1.3.0 -t 0.18.1
 
 # copy to current dir
 docker create -ti --name otel otel-cpp-<base_image> bash
diff --git a/docker/build.sh b/docker/build.sh
index 53773b739f..006fda0c38 100644
--- a/docker/build.sh
+++ b/docker/build.sh
@@ -34,7 +34,7 @@ Help()
 
 base_image=${base_image:="alpine"}
 grpc_git_tag=${grpc_git_tag:="v1.43.2"}
-thrift_version=${thrift_version:="0.14.1"}
+thrift_version=${thrift_version:="0.18.1"}
 otel_git_tag=${otel_git_tag:="v1.3.0"}
 cores=${cores:=1}
 
diff --git a/docker/thrift/CMakeLists.txt b/docker/thrift/CMakeLists.txt
index aa94362986..5dee181e4b 100644
--- a/docker/thrift/CMakeLists.txt
+++ b/docker/thrift/CMakeLists.txt
@@ -51,7 +51,7 @@ message("OpenSSL include dir: ${OPENSSL_INCLUDE_DIR}")
 message("OpenSSL libraries: ${OPENSSL_LIBRARIES}")
 
 set(THRIFT_VERSION
-    "0.14.1"
+    "0.18.1"
     CACHE STRING "thrift version")
 
 include(ExternalProject)
diff --git a/docker/thrift/Dockerfile b/docker/thrift/Dockerfile
index 60792e597b..b5e10f652e 100644
--- a/docker/thrift/Dockerfile
+++ b/docker/thrift/Dockerfile
@@ -5,7 +5,7 @@ ARG BASE_IMAGE=ubuntu:latest
 FROM ${BASE_IMAGE} AS thrift
 
 ARG CORES=${nproc}
-ARG THRIFT_VERSION=0.14.1
+ARG THRIFT_VERSION=0.18.1
 
 RUN mkdir mkdir -p /opt/third_party/thrift
 
diff --git a/docker/ubuntuLatest/Dockerfile b/docker/ubuntuLatest/Dockerfile
index 5e13a7d3b8..4bc1dae4f7 100644
--- a/docker/ubuntuLatest/Dockerfile
+++ b/docker/ubuntuLatest/Dockerfile
@@ -25,7 +25,7 @@ RUN apt-get update && apt-get install -y build-essential autoconf libtool pkg-co
     cd ../..
 
 #install thrift
-ARG THRIFT_VERSION=0.14.1
+ARG THRIFT_VERSION=0.18.1
 RUN apt-get install -y --no-install-recommends \
         libboost-all-dev \
         libevent-dev \
diff --git a/third_party_release b/third_party_release
index 7290896c2d..3b7b4de667 100644
--- a/third_party_release
+++ b/third_party_release
@@ -14,7 +14,7 @@
 #
 
 gRPC=v1.49.2
-thrift=0.14.1
+thrift=0.18.1
 abseil=20220623.1
 benchmark=v1.5.3
 googletest=release-1.12.1