diff --git a/Cargo.lock b/Cargo.lock
index c3c660f57cdf..125cc1c55b33 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -7028,9 +7028,9 @@ checksum = "cda74da7e1a664f795bb1f8a87ec406fb89a02522cf6e50620d016add6dbbf5c"
 
 [[package]]
 name = "tokio"
-version = "1.1.0"
+version = "1.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8efab2086f17abcddb8f756117665c958feee6b2e39974c2f1600592ab3a4195"
+checksum = "8d56477f6ed99e10225f38f9f75f872f29b8b8bd8c0b946f63345bb144e9eeda"
 dependencies = [
  "autocfg 1.0.1",
  "bytes 1.0.1",
@@ -7058,9 +7058,9 @@ dependencies = [
 
 [[package]]
 name = "tokio-macros"
-version = "1.0.0"
+version = "1.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "42517d2975ca3114b22a16192634e8241dc5cc1f130be194645970cc1c371494"
+checksum = "caf7b11a536f46a809a8a9f0bb4237020f70ecbf115b842360afb127ea2fda57"
 dependencies = [
  "proc-macro2 1.0.24",
  "quote 1.0.8",
diff --git a/client/faucet/Cargo.toml b/client/faucet/Cargo.toml
index 0fa038e02d95..2544f3ab749e 100644
--- a/client/faucet/Cargo.toml
+++ b/client/faucet/Cargo.toml
@@ -16,7 +16,7 @@ reqwest = { version = "0.11.0", features = ["blocking"], default-features = fals
 serde = "1.0.123"
 serde_derive = "1.0.117"
 structopt = "0.3.21"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 warp = "0.3.0"
 
 generate-key = { path = "../../config/generate-key", version = "0.1.0" }
diff --git a/client/json-rpc/Cargo.toml b/client/json-rpc/Cargo.toml
index ef0fca80b773..af8169bd6347 100644
--- a/client/json-rpc/Cargo.toml
+++ b/client/json-rpc/Cargo.toml
@@ -18,7 +18,7 @@ rand = "0.7.3"
 reqwest = { version = "0.11.0", features = ["blocking", "json"], default_features = false }
 serde = { version = "1.0.123", default-features = false }
 serde_json = "1.0.61"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 diem-crypto = { path = "../../crypto/crypto", version = "0.1.0" }
 bcs = "0.1.2"
diff --git a/common/bounded-executor/Cargo.toml b/common/bounded-executor/Cargo.toml
index 689cd2136729..e03618166fd3 100644
--- a/common/bounded-executor/Cargo.toml
+++ b/common/bounded-executor/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 futures = "0.3.12"
 diem-workspace-hack = { path = "../workspace-hack", version = "0.1.0" }
-tokio = { version = "1.1.0", features = ["sync"] }
+tokio = { version = "1.3.0", features = ["sync"] }
 
 [dev-dependencies]
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
diff --git a/common/channel/Cargo.toml b/common/channel/Cargo.toml
index b820daca9349..524c6a9b920a 100644
--- a/common/channel/Cargo.toml
+++ b/common/channel/Cargo.toml
@@ -18,4 +18,4 @@ diem-workspace-hack = { path = "../workspace-hack", version = "0.1.0" }
 
 [dev-dependencies]
 diem-types = { path = "../../types", version = "0.1.0"  }
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
diff --git a/common/debug-interface/Cargo.toml b/common/debug-interface/Cargo.toml
index af5b1cc959ae..017120c51e83 100644
--- a/common/debug-interface/Cargo.toml
+++ b/common/debug-interface/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 bytes = "1.0.1"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 reqwest = { version = "0.11.0", features = ["blocking", "json"], default_features = false }
 warp = "0.3.0"
 
diff --git a/common/metrics/Cargo.toml b/common/metrics/Cargo.toml
index 5ee43904dcd1..ef47fd5a9be7 100644
--- a/common/metrics/Cargo.toml
+++ b/common/metrics/Cargo.toml
@@ -16,7 +16,7 @@ hyper = { version = "0.14.2", features = ["full"] }
 once_cell = "1.4.1"
 prometheus = { version = "0.11.0", default-features = false }
 serde_json = "1.0.61"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 diem-logger = { path = "../logger", version = "0.1.0" }
 diem-metrics-core = { path = "../metrics-core", version = "0.1.0" }
diff --git a/common/rate-limiter/Cargo.toml b/common/rate-limiter/Cargo.toml
index 8d7e469a523a..a9e1b496deaf 100644
--- a/common/rate-limiter/Cargo.toml
+++ b/common/rate-limiter/Cargo.toml
@@ -16,5 +16,5 @@ diem-logger = { path = "../logger", version = "0.1.0" }
 diem-metrics = { path = "../metrics", version = "0.1.0" }
 futures = "0.3.12"
 pin-project = "1.0.4"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-util = { version = "0.6.2", features = ["compat"] }
diff --git a/common/retrier/Cargo.toml b/common/retrier/Cargo.toml
index a1b9cd3780ab..094a798b9c4a 100644
--- a/common/retrier/Cargo.toml
+++ b/common/retrier/Cargo.toml
@@ -11,5 +11,5 @@ edition = "2018"
 
 [dependencies]
 diem-workspace-hack = { path = "..//workspace-hack", version = "0.1.0" }
-tokio = { version = "1.1.0", features = ["time"] }
+tokio = { version = "1.3.0", features = ["time"] }
 diem-logger = { path = "../../common/logger", version = "0.1.0"}
diff --git a/common/time-service/Cargo.toml b/common/time-service/Cargo.toml
index 29c63358452a..d6cf7d5da36d 100644
--- a/common/time-service/Cargo.toml
+++ b/common/time-service/Cargo.toml
@@ -14,7 +14,7 @@ enum_dispatch = "0.3.5"
 futures = { version = "0.3.12", optional = true }
 pin-project = { version = "1.0.4", optional = true }
 thiserror = "1.0.23"
-tokio = { version = "1.1.0", features = ["macros", "rt-multi-thread", "time"], optional = true }
+tokio = { version = "1.3.0", features = ["macros", "rt-multi-thread", "time"], optional = true }
 
 diem-infallible = { path = "../infallible", version = "0.1.0" }
 diem-workspace-hack = { path = "../workspace-hack", version = "0.1.0" }
@@ -22,7 +22,7 @@ diem-workspace-hack = { path = "../workspace-hack", version = "0.1.0" }
 [dev-dependencies]
 futures = "0.3.12"
 pin-project = "1.0.4"
-tokio = { version = "1.1.0", features = ["macros", "rt-multi-thread", "time"] }
+tokio = { version = "1.3.0", features = ["macros", "rt-multi-thread", "time"] }
 tokio-test = "0.4.0"
 
 [features]
diff --git a/common/trace/Cargo.toml b/common/trace/Cargo.toml
index 890369ec2600..9917252cd8b2 100644
--- a/common/trace/Cargo.toml
+++ b/common/trace/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 chrono = "0.4.19"
 structopt = "0.3.21"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 serde_json = "1.0.61"
 serde = "1.0.123"
 anyhow = "1.0.38"
diff --git a/consensus/Cargo.toml b/consensus/Cargo.toml
index 2c47cae1b0b7..3549b574b83a 100644
--- a/consensus/Cargo.toml
+++ b/consensus/Cargo.toml
@@ -27,7 +27,7 @@ serde = { version = "1.0.123", default-features = false }
 serde_json = "1.0.61"
 termion = { version = "1.5.6", default-features = false }
 thiserror = "1.0.23"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 channel = { path = "../common/channel", version = "0.1.0" }
 consensus-types = { path = "consensus-types", version = "0.1.0", default-features = false }
diff --git a/diem-node/Cargo.toml b/diem-node/Cargo.toml
index aa7e5f6396f7..e090cb4d7acf 100644
--- a/diem-node/Cargo.toml
+++ b/diem-node/Cargo.toml
@@ -14,7 +14,7 @@ fail = "0.4.0"
 futures = "0.3.12"
 jemallocator = { version = "0.3.2", features = ["profiling", "unprefixed_malloc_on_supported_platforms"] }
 structopt = "0.3.21"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-stream = "0.1.2"
 
 backup-service = { path = "../storage/backup/backup-service", version = "0.1.0" }
diff --git a/json-rpc/Cargo.toml b/json-rpc/Cargo.toml
index 601c559d04e2..a000afe25241 100644
--- a/json-rpc/Cargo.toml
+++ b/json-rpc/Cargo.toml
@@ -19,7 +19,7 @@ once_cell = "1.4.1"
 rand = "0.7.3"
 serde_json = "1.0.61"
 serde = { version = "1.0.123", default-features = false }
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 warp = { version = "0.3.0", features = ["tls"] }
 reqwest = { version = "0.11.0", features = ["blocking", "json"], default_features = false, optional = true }
 proptest = { version = "0.10.1", optional = true }
diff --git a/language/diem-tools/diem-events-fetcher/Cargo.toml b/language/diem-tools/diem-events-fetcher/Cargo.toml
index a56a529f5abb..78cbabcf5a02 100644
--- a/language/diem-tools/diem-events-fetcher/Cargo.toml
+++ b/language/diem-tools/diem-events-fetcher/Cargo.toml
@@ -17,7 +17,7 @@ hex = "0.4.2"
 reqwest = { version = "0.11.0", features = ["blocking", "json"] }
 structopt = "0.3.21"
 futures = "0.3.12"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 diem-workspace-hack = { path = "../../../common/workspace-hack", version = "0.1.0" }
 diem-json-rpc-client = { path = "../../../client/json-rpc", version = "0.1.0" }
diff --git a/language/move-prover/Cargo.toml b/language/move-prover/Cargo.toml
index 832632b80c39..2c680dfd8bca 100644
--- a/language/move-prover/Cargo.toml
+++ b/language/move-prover/Cargo.toml
@@ -41,7 +41,7 @@ serde = { version = "1.0.123", features = ["derive"] }
 serde_json = "1.0.61"
 simplelog = "0.9.0"
 once_cell = "1.4.1"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 toml = "0.5.8"
 
 [dev-dependencies]
diff --git a/mempool/Cargo.toml b/mempool/Cargo.toml
index 92d2fd22d921..715670968776 100644
--- a/mempool/Cargo.toml
+++ b/mempool/Cargo.toml
@@ -18,7 +18,7 @@ once_cell = "1.4.1"
 proptest = { version = "0.10.1", optional = true }
 rayon = "1.4.1"
 serde = { version = "1.0.123", default-features = false }
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-stream = "0.1.2"
 
 bounded-executor = { path = "../common/bounded-executor", version = "0.1.0" }
diff --git a/network/Cargo.toml b/network/Cargo.toml
index 927e1bff4bc2..7ba7ec00c135 100644
--- a/network/Cargo.toml
+++ b/network/Cargo.toml
@@ -24,7 +24,7 @@ rand_core = { version = "0.5.1", optional = true }
 serde = { version = "1.0.123", default-features = false }
 serde_bytes = "0.11.5"
 thiserror = "1.0.23"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-retry = "0.2.0"
 tokio-stream = "0.1.2"
 tokio-util = { version = "0.6.2", features = ["compat", "codec"] }
diff --git a/network/builder/Cargo.toml b/network/builder/Cargo.toml
index 27acd9c336b3..e7258900db6c 100644
--- a/network/builder/Cargo.toml
+++ b/network/builder/Cargo.toml
@@ -15,7 +15,7 @@ edition = "2018"
 futures = "0.3.12"
 rand = "0.7.3"
 serde = { version = "1.0.123", default-features = false }
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 channel = { path = "../../common/channel", version = "0.1.0" }
 bcs = "0.1.2"
diff --git a/network/netcore/Cargo.toml b/network/netcore/Cargo.toml
index 55bfee6117a4..8eb485cc5ea4 100644
--- a/network/netcore/Cargo.toml
+++ b/network/netcore/Cargo.toml
@@ -14,7 +14,7 @@ bytes = "1.0.1"
 futures = "0.3.12"
 pin-project = "1.0.4"
 serde = { version = "1.0.123", default-features = false }
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-util = { version = "0.6.2", features = ["compat"] }
 url = { version = "2.1.1" }
 
diff --git a/network/simple-onchain-discovery/Cargo.toml b/network/simple-onchain-discovery/Cargo.toml
index aa887e9c3794..2f005c50802a 100644
--- a/network/simple-onchain-discovery/Cargo.toml
+++ b/network/simple-onchain-discovery/Cargo.toml
@@ -13,7 +13,7 @@ edition = "2018"
 anyhow = "1.0.38"
 futures = "0.3.12"
 once_cell = "1.4.1"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 channel = {path = "../../common/channel", version = "0.1.0"}
 bcs = "0.1.2"
diff --git a/network/socket-bench-server/Cargo.toml b/network/socket-bench-server/Cargo.toml
index fcec62c2ad2f..87c136dbcaf0 100644
--- a/network/socket-bench-server/Cargo.toml
+++ b/network/socket-bench-server/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 futures = "0.3.12"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-util = { version = "0.6.2", features = ["compat", "codec"] }
 
 diem-crypto = { path = "../../crypto/crypto" }
diff --git a/secure/json-rpc/Cargo.toml b/secure/json-rpc/Cargo.toml
index edc44b44a263..09251231c38f 100644
--- a/secure/json-rpc/Cargo.toml
+++ b/secure/json-rpc/Cargo.toml
@@ -28,7 +28,7 @@ proxy = { path = "../../common/proxy" }
 anyhow = "1.0.38"
 futures = "0.3.12"
 proptest = "0.10.1"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 diem-config = { path = "../../config", version = "0.1.0" }
 diem-proptest-helpers = { path = "../../common/proptest-helpers", version = "0.1.0"}
diff --git a/secure/key-manager/Cargo.toml b/secure/key-manager/Cargo.toml
index 068062652681..d31527d51cd5 100644
--- a/secure/key-manager/Cargo.toml
+++ b/secure/key-manager/Cargo.toml
@@ -32,7 +32,7 @@ transaction-builder-generated = { path = "../../client/transaction-builder", ver
 anyhow = "1.0.38"
 futures = "0.3.12"
 rand = "0.7.3"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 executor = { path = "../../execution/executor", version = "0.1.0" }
 executor-test-helpers = { path = "../../execution/executor-test-helpers", version = "0.1.0" }
diff --git a/state-sync/Cargo.toml b/state-sync/Cargo.toml
index 20561ea7217f..5d2d6cf183e3 100644
--- a/state-sync/Cargo.toml
+++ b/state-sync/Cargo.toml
@@ -19,7 +19,7 @@ once_cell = "1.4.1"
 proptest = { version = "0.10.1", optional = true }
 rand = "0.7.3"
 serde = { version = "1.0.123", default-features = false }
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-stream = "0.1.2"
 
 channel = { path = "../common/channel", version = "0.1.0" }
diff --git a/storage/backup/backup-cli/Cargo.toml b/storage/backup/backup-cli/Cargo.toml
index cf74f784632d..97d359c0afe5 100644
--- a/storage/backup/backup-cli/Cargo.toml
+++ b/storage/backup/backup-cli/Cargo.toml
@@ -26,7 +26,7 @@ serde = { version = "1.0.123", features = ["derive"] }
 serde_json = "1.0.61"
 structopt = "0.3.21"
 toml = "0.5.8"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 tokio-stream = "0.1.2"
 tokio-util = { version = "0.6.2", features = ["compat"] }
 
diff --git a/storage/backup/backup-service/Cargo.toml b/storage/backup/backup-service/Cargo.toml
index 2c5a37cda965..5cf0440245f3 100644
--- a/storage/backup/backup-service/Cargo.toml
+++ b/storage/backup/backup-service/Cargo.toml
@@ -15,7 +15,7 @@ futures = "0.3.12"
 hyper = "0.14.2"
 once_cell = "1.4.1"
 serde = { version = "1.0.123", default-features = false }
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 warp = "0.3.0"
 
 bcs = "0.1.2"
diff --git a/storage/storage-service/Cargo.toml b/storage/storage-service/Cargo.toml
index 4c77191b39d5..92b8d5c2933c 100644
--- a/storage/storage-service/Cargo.toml
+++ b/storage/storage-service/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 anyhow = "1.0.38"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 futures = "0.3.12"
 
 bcs = "0.1.2"
diff --git a/testsuite/cli/Cargo.toml b/testsuite/cli/Cargo.toml
index 9a437c801b62..b2d154e9e9b6 100644
--- a/testsuite/cli/Cargo.toml
+++ b/testsuite/cli/Cargo.toml
@@ -21,7 +21,7 @@ once_cell = "1.4.1"
 reqwest = { version = "0.11.0", features = ["blocking", "json"] }
 serde = { version = "1.0.123", features = ["derive"] }
 structopt = "0.3.21"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 walkdir = "2.3.1"
 
 diem-config = { path = "../../config", version = "0.1.0" }
diff --git a/testsuite/cluster-test/Cargo.toml b/testsuite/cluster-test/Cargo.toml
index 1b49609e1ceb..5e2378b8adce 100644
--- a/testsuite/cluster-test/Cargo.toml
+++ b/testsuite/cluster-test/Cargo.toml
@@ -62,7 +62,7 @@ state-sync = { path = "../../state-sync", version = "0.1.0" }
 transaction-builder = { path = "../../language/transaction-builder", version = "0.1.0" }
 
 futures = "0.3.12"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 async-trait = "0.1.42"
 
 kube = "0.48.0"
diff --git a/testsuite/smoke-test/Cargo.toml b/testsuite/smoke-test/Cargo.toml
index 4c313810b517..107fdb343aaa 100644
--- a/testsuite/smoke-test/Cargo.toml
+++ b/testsuite/smoke-test/Cargo.toml
@@ -20,7 +20,7 @@ regex = "1.4.3"
 rust_decimal = "1.10.1"
 rusty-fork = "0.3.0"
 statistical = "1.0.0"
-tokio = { version = "1.1.0", features = ["full"] }
+tokio = { version = "1.3.0", features = ["full"] }
 
 backup-cli = { path = "../../storage/backup/backup-cli", version = "0.1.0" }
 cli = { path = "../cli", version = "0.1.0", features = ["fuzzing"]  }