diff --git a/depends/install_webp.sh b/depends/install_webp.sh
index a419a7646..ed17f2228 100755
--- a/depends/install_webp.sh
+++ b/depends/install_webp.sh
@@ -1,7 +1,7 @@
 #!/bin/bash
 # install webp
 
-archive=libwebp-1.2.2
+archive=libwebp-1.2.3
 
 ./download-and-extract.sh $archive https://raw.githubusercontent.com/python-pillow/pillow-depends/main/$archive.tar.gz
 
diff --git a/winbuild/build_prepare.py b/winbuild/build_prepare.py
index 2e7c84ad0..bc5fb4d02 100644
--- a/winbuild/build_prepare.py
+++ b/winbuild/build_prepare.py
@@ -157,9 +157,9 @@ deps = {
         # "bins": [r"libtiff\*.dll"],
     },
     "libwebp": {
-        "url": "http://downloads.webmproject.org/releases/webp/libwebp-1.2.2.tar.gz",
-        "filename": "libwebp-1.2.2.tar.gz",
-        "dir": "libwebp-1.2.2",
+        "url": "http://downloads.webmproject.org/releases/webp/libwebp-1.2.3.tar.gz",
+        "filename": "libwebp-1.2.3.tar.gz",
+        "dir": "libwebp-1.2.3",
         "build": [
             cmd_rmdir(r"output\release-static"),  # clean
             cmd_nmake(