diff --git a/dependencyManagement/build.gradle.kts b/dependencyManagement/build.gradle.kts
index 043e729ce72b..3dd8447c894a 100644
--- a/dependencyManagement/build.gradle.kts
+++ b/dependencyManagement/build.gradle.kts
@@ -107,7 +107,7 @@ val DEPENDENCIES = listOf(
   "org.junit-pioneer:junit-pioneer:1.9.1",
   "org.objenesis:objenesis:3.3",
   // Note that this is only referenced as "org.springframework.boot" in build files, not the artifact name.
-  "org.springframework.boot:spring-boot-dependencies:2.7.5",
+  "org.springframework.boot:spring-boot-dependencies:3.0.3",
   "javax.validation:validation-api:2.0.1.Final",
   "org.snakeyaml:snakeyaml-engine:2.6"
 )
diff --git a/smoke-tests/images/spring-boot/build.gradle.kts b/smoke-tests/images/spring-boot/build.gradle.kts
index 5dc6792a319f..d282d4bac65f 100644
--- a/smoke-tests/images/spring-boot/build.gradle.kts
+++ b/smoke-tests/images/spring-boot/build.gradle.kts
@@ -9,7 +9,7 @@ plugins {
 
 dependencies {
   implementation(platform("io.opentelemetry:opentelemetry-bom:1.0.0"))
-  implementation(platform("org.springframework.boot:spring-boot-dependencies:2.6.6"))
+  implementation(platform("org.springframework.boot:spring-boot-dependencies:3.0.3"))
 
   implementation("io.opentelemetry:opentelemetry-api")
   implementation(project(":instrumentation-annotations"))