diff --git a/Cargo.lock b/Cargo.lock
index 15a3ed168..4c58cfc27 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -902,9 +902,9 @@ checksum = "d65bd28f48be7196d222d95b9243287f48d27aca604e08497513019ff0502cc4"
 
 [[package]]
 name = "serde"
-version = "1.0.136"
+version = "1.0.137"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ce31e24b01e1e524df96f1c2fdd054405f8d7376249a5110886fb4b658484789"
+checksum = "61ea8d54c77f8315140a05f4c7237403bf38b72704d031543aa1d16abbf517d1"
 
 [[package]]
 name = "serde_derive"
diff --git a/arch/Cargo.toml b/arch/Cargo.toml
index da8a312e1..7ccb87cc5 100644
--- a/arch/Cargo.toml
+++ b/arch/Cargo.toml
@@ -16,7 +16,7 @@ hypervisor = { path = "../hypervisor" }
 libc = "0.2.124"
 linux-loader = { version = "0.4.0", features = ["elf", "bzimage", "pe"] }
 log = "0.4.16"
-serde = { version = "1.0.136", features = ["rc"] }
+serde = { version = "1.0.137", features = ["rc"] }
 serde_derive = "1.0.136"
 thiserror = "1.0.31"
 versionize = "0.1.6"
diff --git a/event_monitor/Cargo.toml b/event_monitor/Cargo.toml
index 429f9e49a..5974fcac6 100644
--- a/event_monitor/Cargo.toml
+++ b/event_monitor/Cargo.toml
@@ -6,6 +6,6 @@ edition = "2021"
 
 [dependencies]
 libc = "0.2.124"
-serde = { version = "1.0.136", features = ["rc"] }
+serde = { version = "1.0.137", features = ["rc"] }
 serde_derive = "1.0.136"
 serde_json = "1.0.80"
diff --git a/hypervisor/Cargo.toml b/hypervisor/Cargo.toml
index f80be6194..d398c8d5a 100644
--- a/hypervisor/Cargo.toml
+++ b/hypervisor/Cargo.toml
@@ -20,7 +20,7 @@ kvm-ioctls = { version = "0.11.0", optional = true }
 kvm-bindings = { git = "https://github.com/cloud-hypervisor/kvm-bindings", branch = "ch-v0.5.0-tdx", features = ["with-serde", "fam-wrappers"], optional  = true }
 mshv-bindings = {git = "https://github.com/rust-vmm/mshv", branch = "main", features = ["with-serde", "fam-wrappers"], optional  = true }
 mshv-ioctls = { git = "https://github.com/rust-vmm/mshv", branch = "main", optional  = true}
-serde = { version = "1.0.136", features = ["rc"] }
+serde = { version = "1.0.137", features = ["rc"] }
 serde_derive = "1.0.136"
 serde_json = "1.0.80"
 vm-memory = { version = "0.7.0", features = ["backend-mmap", "backend-atomic"] }
diff --git a/net_util/Cargo.toml b/net_util/Cargo.toml
index 49d34e48c..f2b872f46 100644
--- a/net_util/Cargo.toml
+++ b/net_util/Cargo.toml
@@ -11,7 +11,7 @@ libc = "0.2.124"
 log = "0.4.16"
 net_gen = { path = "../net_gen" }
 rate_limiter = { path = "../rate_limiter" }
-serde = "1.0.136"
+serde = "1.0.137"
 versionize = "0.1.6"
 versionize_derive = "0.1.4"
 virtio-bindings = "0.1.0"
diff --git a/pci/Cargo.toml b/pci/Cargo.toml
index ed9d747b5..5edfd1561 100644
--- a/pci/Cargo.toml
+++ b/pci/Cargo.toml
@@ -18,7 +18,7 @@ vfio_user = { path = "../vfio_user" }
 vmm-sys-util = "0.9.0"
 libc = "0.2.124"
 log = "0.4.16"
-serde = "1.0.136"
+serde = "1.0.137"
 serde_derive = "1.0.136"
 thiserror = "1.0.31"
 versionize = "0.1.6"
diff --git a/performance-metrics/Cargo.toml b/performance-metrics/Cargo.toml
index ba1b6da21..1e30dbe02 100644
--- a/performance-metrics/Cargo.toml
+++ b/performance-metrics/Cargo.toml
@@ -8,7 +8,7 @@ build = "build.rs"
 [dependencies]
 clap = { version = "3.1.14", features = ["wrap_help","cargo"] }
 dirs = "4.0.0"
-serde = { version = "1.0.136", features = ["rc"] }
+serde = { version = "1.0.137", features = ["rc"] }
 serde_derive = "1.0.136"
 serde_json = "1.0.80"
 test_infra = { path = "../test_infra" }
diff --git a/virtio-devices/Cargo.toml b/virtio-devices/Cargo.toml
index f0d4634b8..9dedcb5d7 100644
--- a/virtio-devices/Cargo.toml
+++ b/virtio-devices/Cargo.toml
@@ -23,7 +23,7 @@ net_util = { path = "../net_util" }
 pci = { path = "../pci" }
 rate_limiter = { path = "../rate_limiter" }
 seccompiler = "0.2.0"
-serde = "1.0.136"
+serde = "1.0.137"
 serde_derive = "1.0.136"
 serde_json = "1.0.80"
 thiserror = "1.0.31"
diff --git a/vm-device/Cargo.toml b/vm-device/Cargo.toml
index 4a908128e..aa07495ec 100644
--- a/vm-device/Cargo.toml
+++ b/vm-device/Cargo.toml
@@ -12,7 +12,7 @@ mshv = ["vfio-ioctls/mshv"]
 [dependencies]
 anyhow = "1.0.57"
 thiserror = "1.0.31"
-serde = { version = "1.0.136", features = ["rc"] }
+serde = { version = "1.0.137", features = ["rc"] }
 serde_derive = "1.0.136"
 serde_json = "1.0.80"
 vfio-ioctls = { git = "https://github.com/rust-vmm/vfio", branch = "main", default-features = false }
diff --git a/vm-migration/Cargo.toml b/vm-migration/Cargo.toml
index 49fdf456c..0c9278b70 100644
--- a/vm-migration/Cargo.toml
+++ b/vm-migration/Cargo.toml
@@ -7,7 +7,7 @@ edition = "2021"
 [dependencies]
 anyhow = "1.0.57"
 thiserror = "1.0.31"
-serde = { version = "1.0.136", features = ["rc"] }
+serde = { version = "1.0.137", features = ["rc"] }
 serde_derive = "1.0.136"
 serde_json = "1.0.80"
 versionize = "0.1.6"
diff --git a/vmm/Cargo.toml b/vmm/Cargo.toml
index 229015b1e..3db0db0ac 100644
--- a/vmm/Cargo.toml
+++ b/vmm/Cargo.toml
@@ -38,7 +38,7 @@ option_parser = { path = "../option_parser" }
 pci = { path = "../pci" }
 qcow = { path = "../qcow" }
 seccompiler = "0.2.0"
-serde = { version = "1.0.136", features = ["rc"] }
+serde = { version = "1.0.137", features = ["rc"] }
 serde_derive = "1.0.136"
 serde_json = "1.0.80"
 signal-hook = "0.3.13"