diff --git a/build/dependencies.yaml b/build/dependencies.yaml
index d3d20a032fe..4c67f35291b 100644
--- a/build/dependencies.yaml
+++ b/build/dependencies.yaml
@@ -80,7 +80,7 @@ dependencies:
       match: configs\[Etcd\] = Config{list\.GcEtcdRegistry, "etcd", "\d+\.\d+.\d+(-(alpha|beta|rc).\d+)?(-\d+)?"}
 
   - name: "etcd-image"
-    version: 3.6.2
+    version: 3.6.3
     refPaths:
     - path: cluster/images/etcd/Makefile
       match: BUNDLED_ETCD_VERSIONS\?|LATEST_ETCD_VERSION\?
diff --git a/cluster/images/etcd/Makefile b/cluster/images/etcd/Makefile
index a046e1e17d6..cb0b94b4450 100644
--- a/cluster/images/etcd/Makefile
+++ b/cluster/images/etcd/Makefile
@@ -15,7 +15,7 @@
 # Build the etcd image
 #
 # Usage:
-# 	[BUNDLED_ETCD_VERSIONS=3.4.18 3.5.21 3.6.2] [REGISTRY=registry.k8s.io] [ARCH=amd64] [BASEIMAGE=busybox] make (build|push)
+# 	[BUNDLED_ETCD_VERSIONS=3.4.18 3.5.21 3.6.3] [REGISTRY=registry.k8s.io] [ARCH=amd64] [BASEIMAGE=busybox] make (build|push)
 #
 # The image contains different etcd versions to simplify
 # upgrades. Thus be careful when removing any versions from here.
@@ -26,10 +26,10 @@
 # Except from etcd-$(version) and etcdctl-$(version) binaries, we also
 # need etcd and etcdctl binaries for backward compatibility reasons.
 # That binary will be set to the last version from $(BUNDLED_ETCD_VERSIONS).
-BUNDLED_ETCD_VERSIONS?=3.4.18 3.5.21 3.6.2
+BUNDLED_ETCD_VERSIONS?=3.4.18 3.5.21 3.6.3
 
 # LATEST_ETCD_VERSION identifies the most recent etcd version available.
-LATEST_ETCD_VERSION?=3.6.2
+LATEST_ETCD_VERSION?=3.6.3
 
 # REVISION provides a version number for this image and all it's bundled
 # artifacts. It should start at zero for each LATEST_ETCD_VERSION and increment
diff --git a/cluster/images/etcd/migrate/options.go b/cluster/images/etcd/migrate/options.go
index baa7b227956..d89466775e3 100644
--- a/cluster/images/etcd/migrate/options.go
+++ b/cluster/images/etcd/migrate/options.go
@@ -28,7 +28,7 @@ import (
 )
 
 var (
-	supportedEtcdVersions = []string{"3.4.18", "3.5.21", "3.6.2"}
+	supportedEtcdVersions = []string{"3.4.18", "3.5.21", "3.6.3"}
 )
 
 const (