diff --git a/dependencyManagement/build.gradle.kts b/dependencyManagement/build.gradle.kts
index 8498912f9361..db0f8ec37998 100644
--- a/dependencyManagement/build.gradle.kts
+++ b/dependencyManagement/build.gradle.kts
@@ -28,7 +28,7 @@ val DEPENDENCY_BOMS = listOf(
   // even if they are only used by test dependencies, so not using junit bom since it is LGPL
 
   "com.fasterxml.jackson:jackson-bom:2.19.2",
-  "com.squareup.okio:okio-bom:3.15.0", // see https://github.com/open-telemetry/opentelemetry-java/issues/5637
+  "com.squareup.okio:okio-bom:3.16.0", // see https://github.com/open-telemetry/opentelemetry-java/issues/5637
   "com.google.guava:guava-bom:33.4.8-jre",
   "org.apache.groovy:groovy-bom:${groovyVersion}",
   "io.opentelemetry:opentelemetry-bom:${otelSdkVersion}",
diff --git a/licenses/licenses.md b/licenses/licenses.md
index 8fd8e74ea777..7d1baf8b2ea2 100644
--- a/licenses/licenses.md
+++ b/licenses/licenses.md
@@ -57,11 +57,11 @@
 > - **POM Project URL**: [https://square.github.io/okhttp/](https://square.github.io/okhttp/)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**11** **Group:** `com.squareup.okio` **Name:** `okio` **Version:** `3.15.0`
+**11** **Group:** `com.squareup.okio` **Name:** `okio` **Version:** `3.16.0`
 > - **POM Project URL**: [https://github.com/square/okio/](https://github.com/square/okio/)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**12** **Group:** `com.squareup.okio` **Name:** `okio-jvm` **Version:** `3.15.0`
+**12** **Group:** `com.squareup.okio` **Name:** `okio-jvm` **Version:** `3.16.0`
 > - **POM Project URL**: [https://github.com/square/okio/](https://github.com/square/okio/)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)