diff --git a/helmfile.d/velero.yaml.gotmpl b/helmfile.d/velero.yaml.gotmpl
index 860753d5..1e7e2ee0 100644
--- a/helmfile.d/velero.yaml.gotmpl
+++ b/helmfile.d/velero.yaml.gotmpl
@@ -15,7 +15,7 @@ releases:
 - name: velero
   namespace: velero
   chart: velero/velero
-  version: 12.0.2
+  version: 12.0.3
   condition: velero.enabled
   values:
   - ../values/velero/values/velero.yaml.gotmpl