diff --git a/api/go.mod b/api/go.mod
index 53df49097e..3faaafce37 100644
--- a/api/go.mod
+++ b/api/go.mod
@@ -10,7 +10,7 @@ go 1.21
 toolchain go1.21.8
 
 require (
-	github.com/cenkalti/backoff/v3 v3.0.0
+	github.com/cenkalti/backoff/v4 v4.3.0
 	github.com/go-jose/go-jose/v4 v4.0.1
 	github.com/go-test/deep v1.0.2
 	github.com/hashicorp/errwrap v1.1.0
diff --git a/api/go.sum b/api/go.sum
index 9ba6763604..7cde81537e 100644
--- a/api/go.sum
+++ b/api/go.sum
@@ -1,7 +1,7 @@
 github.com/armon/go-radix v0.0.0-20180808171621-7fddfc383310/go.mod h1:ufUuZ+zHj4x4TnLV4JWEpy2hxWSpsRywHrMgIH9cCH8=
 github.com/bgentry/speakeasy v0.1.0/go.mod h1:+zsyZBPWlz7T6j88CTgSN5bM796AkVf0kBD4zp0CCIs=
-github.com/cenkalti/backoff/v3 v3.0.0 h1:ske+9nBpD9qZsTBoF41nW5L+AIuFBKMeze18XQ3eG1c=
-github.com/cenkalti/backoff/v3 v3.0.0/go.mod h1:cIeZDE3IrqwwJl6VUwCN6trj1oXrTS4rc0ij+ULvLYs=
+github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
+github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/api/lifetime_watcher.go b/api/lifetime_watcher.go
index 4bc1390b93..bdb8fb64b3 100644
--- a/api/lifetime_watcher.go
+++ b/api/lifetime_watcher.go
@@ -10,7 +10,7 @@ import (
 	"sync"
 	"time"
 
-	"github.com/cenkalti/backoff/v3"
+	"github.com/cenkalti/backoff/v4"
 )
 
 var (
diff --git a/changelog/26868.txt b/changelog/26868.txt
new file mode 100644
index 0000000000..3a25d05efd
--- /dev/null
+++ b/changelog/26868.txt
@@ -0,0 +1,3 @@
+```release-note:change
+api: Update backoff/v3 to backoff/v4.3.0
+```
\ No newline at end of file