diff --git a/rust/Cargo.lock b/rust/Cargo.lock
index e55f9720e..402dab961 100644
--- a/rust/Cargo.lock
+++ b/rust/Cargo.lock
@@ -139,7 +139,7 @@ dependencies = [
 [[package]]
 name = "aptos-protos"
 version = "1.3.0"
-source = "git+https://github.com/aptos-labs/aptos-core.git?tag=aptos-node-v1.11.0#1e997b54840870a37869dd724d89c6d2e7e893ce"
+source = "git+https://github.com/aptos-labs/aptos-core.git?tag=aptos-node-v1.12.1#4b9a2593facaee92b28df2e99b2773a7e4f930f5"
 dependencies = [
  "futures-core",
  "pbjson",
diff --git a/rust/Cargo.toml b/rust/Cargo.toml
index a8b680b5b..3f3d86076 100644
--- a/rust/Cargo.toml
+++ b/rust/Cargo.toml
@@ -19,7 +19,7 @@ aptos-moving-average = { path = "moving-average" }
 
 ahash = { version = "0.8.7", features = ["serde"] }
 anyhow = "1.0.62"
-aptos-protos = { git = "https://github.com/aptos-labs/aptos-core.git", tag = "aptos-node-v1.11.0" }
+aptos-protos = { git = "https://github.com/aptos-labs/aptos-core.git", tag = "aptos-node-v1.12.1" }
 aptos-system-utils = { git = "https://github.com/aptos-labs/aptos-core.git", rev = "4541add3fd29826ec57f22658ca286d2d6134b93" }
 async-trait = "0.1.53"
 backtrace = "0.3.58"