diff --git a/Cargo.lock b/Cargo.lock
index 89a17e254ab..e23b26dd6e7 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -7918,9 +7918,9 @@ dependencies = [
 
 [[package]]
 name = "parity-scale-codec"
-version = "3.4.0"
+version = "3.5.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "637935964ff85a605d114591d4d2c13c5d1ba2806dae97cea6bf180238a749ac"
+checksum = "5ddb756ca205bd108aee3c62c6d3c994e1df84a59b9d6d4a5ea42ee1fd5a9a28"
 dependencies = [
  "arrayvec 0.7.2",
  "bitvec",
diff --git a/client/relay-chain-interface/Cargo.toml b/client/relay-chain-interface/Cargo.toml
index 421c9c9aa9c..c4ee9d2fb59 100644
--- a/client/relay-chain-interface/Cargo.toml
+++ b/client/relay-chain-interface/Cargo.toml
@@ -18,4 +18,4 @@ futures = "0.3.28"
 async-trait = "0.1.68"
 thiserror = "1.0.40"
 jsonrpsee-core = "0.16.2"
-parity-scale-codec = "3.4.0"
+parity-scale-codec = "3.5.0"
diff --git a/client/relay-chain-rpc-interface/Cargo.toml b/client/relay-chain-rpc-interface/Cargo.toml
index 6380abe066d..b23ef658f75 100644
--- a/client/relay-chain-rpc-interface/Cargo.toml
+++ b/client/relay-chain-rpc-interface/Cargo.toml
@@ -25,7 +25,7 @@ tokio = { version = "1.28.0", features = ["sync"] }
 
 futures = "0.3.28"
 futures-timer = "3.0.2"
-parity-scale-codec = "3.4.0"
+parity-scale-codec = "3.5.0"
 jsonrpsee = { version = "0.16.2", features = ["ws-client"] }
 tracing = "0.1.37"
 async-trait = "0.1.68"
diff --git a/pallets/session-benchmarking/Cargo.toml b/pallets/session-benchmarking/Cargo.toml
index 11f985633e0..111cbb85ee6 100644
--- a/pallets/session-benchmarking/Cargo.toml
+++ b/pallets/session-benchmarking/Cargo.toml
@@ -13,7 +13,7 @@ readme = "README.md"
 targets = ["x86_64-unknown-linux-gnu"]
 
 [dependencies]
-parity-scale-codec = { version = "3.4.0", default-features = false }
+parity-scale-codec = { version = "3.5.0", default-features = false }
 sp-std = { default-features = false, git = "https://github.com/paritytech/substrate", branch = "master" }
 sp-runtime = { default-features = false, git = "https://github.com/paritytech/substrate", branch = "master" }
 frame-support = { default-features = false, git = "https://github.com/paritytech/substrate", branch = "master" }