diff --git a/Cargo.lock b/Cargo.lock
index 59cac6b06..98ac08fa7 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1097,9 +1097,9 @@ checksum = "388a1df253eca08550bef6c72392cfe7c30914bf41df5269b68cbd6ff8f570a3"
 
 [[package]]
 name = "serde"
-version = "1.0.120"
+version = "1.0.121"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "166b2349061381baf54a58e4b13c89369feb0ef2eaa57198899e2312aac30aab"
+checksum = "6159e3c76cab06f6bc466244d43b35e77e9500cd685da87620addadc2a4c40b1"
 
 [[package]]
 name = "serde_derive"
diff --git a/net_util/Cargo.toml b/net_util/Cargo.toml
index 6e0d15718..237412cf4 100644
--- a/net_util/Cargo.toml
+++ b/net_util/Cargo.toml
@@ -9,7 +9,7 @@ libc = "0.2.82"
 log = "0.4.13"
 net_gen = { path = "../net_gen" }
 rand = "0.8.2"
-serde = "1.0.120"
+serde = "1.0.121"
 virtio-bindings = "0.1.0"
 vm-memory = { version = "0.4.0", features = ["backend-mmap", "backend-atomic"] }
 vm-virtio = { path = "../vm-virtio" }