diff --git a/NOTICE b/NOTICE
index fbaaa5a66d604..759a9f65adb46 100644
--- a/NOTICE
+++ b/NOTICE
@@ -18,7 +18,7 @@ This project bundles the following dependencies under the BSD license.
 See bundled license files for details.
 
 - cloudpickle:1.2.2
-- net.sf.py4j:py4j:0.10.8.1
+- net.sf.py4j:py4j:0.10.9.3
 
 This project bundles the following dependencies under SIL OFL 1.1 license (https://opensource.org/licenses/OFL-1.1).
 See bundled license files for details.
diff --git a/flink-python/README.md b/flink-python/README.md
index 24b6e95ff4c92..39319d7ef3e00 100644
--- a/flink-python/README.md
+++ b/flink-python/README.md
@@ -26,7 +26,7 @@ The auto-generated Python docs can be found at [https://nightlies.apache.org/fli
 
 ## Python Requirements
 
-Apache Flink Python API depends on Py4J (currently version 0.10.8.1), CloudPickle (currently version 1.2.2), python-dateutil(currently version 2.8.0), Apache Beam (currently version 2.27.0).
+Apache Flink Python API depends on Py4J (currently version 0.10.9.3), CloudPickle (currently version 1.2.2), python-dateutil(currently version 2.8.0), Apache Beam (currently version 2.27.0).
 
 ## Development Notices
 
diff --git a/flink-python/dev/dev-requirements.txt b/flink-python/dev/dev-requirements.txt
index 1acfec0f727df..c6b0ef3038175 100755
--- a/flink-python/dev/dev-requirements.txt
+++ b/flink-python/dev/dev-requirements.txt
@@ -16,7 +16,7 @@ setuptools>=18.0
 wheel
 apache-beam==2.27.0
 cython==0.29.24
-py4j==0.10.8.1
+py4j==0.10.9.3
 python-dateutil==2.8.0
 cloudpickle==1.2.2
 avro-python3>=1.8.1,!=1.9.2,<1.10.0
diff --git a/flink-python/lib/py4j-0.10.8.1-src.zip b/flink-python/lib/py4j-0.10.8.1-src.zip
deleted file mode 100644
index 74d5ca481b6de..0000000000000
Binary files a/flink-python/lib/py4j-0.10.8.1-src.zip and /dev/null differ
diff --git a/flink-python/lib/py4j-0.10.9.3-src.zip b/flink-python/lib/py4j-0.10.9.3-src.zip
new file mode 100644
index 0000000000000..82f0b89adead6
Binary files /dev/null and b/flink-python/lib/py4j-0.10.9.3-src.zip differ
diff --git a/flink-python/setup.py b/flink-python/setup.py
index 6905da210f171..dae7e64fe7a69 100644
--- a/flink-python/setup.py
+++ b/flink-python/setup.py
@@ -308,7 +308,7 @@ def extracted_output_files(base_dir, file_path, output_directory):
         author='Apache Software Foundation',
         author_email='dev@flink.apache.org',
         python_requires='>=3.6',
-        install_requires=['py4j==0.10.8.1', 'python-dateutil==2.8.0', 'apache-beam==2.27.0',
+        install_requires=['py4j==0.10.9.3', 'python-dateutil==2.8.0', 'apache-beam==2.27.0',
                           'cloudpickle==1.2.2', 'avro-python3>=1.8.1,!=1.9.2,<1.10.0',
                           'pandas>=1.0,<1.2.0', 'pyarrow>=0.15.1,<3.0.0',
                           'pytz>=2018.3', 'numpy>=1.14.3,<1.20', 'fastavro>=0.21.4,<0.24',
diff --git a/flink-python/src/main/resources/META-INF/NOTICE b/flink-python/src/main/resources/META-INF/NOTICE
index 69e29a36f82a6..21d0508ddf59a 100644
--- a/flink-python/src/main/resources/META-INF/NOTICE
+++ b/flink-python/src/main/resources/META-INF/NOTICE
@@ -31,7 +31,7 @@ This project bundles the following dependencies under the Apache Software Licens
 This project bundles the following dependencies under the BSD license.
 See bundled license files for details
 
-- net.sf.py4j:py4j:0.10.8.1
+- net.sf.py4j:py4j:0.10.9.3
 - com.google.protobuf:protobuf-java:3.17.3
 
 This project bundles the following dependencies under the MIT license. (https://opensource.org/licenses/MIT)
diff --git a/pom.xml b/pom.xml
index 60904482e31e6..88674ded51c84 100644
--- a/pom.xml
+++ b/pom.xml
@@ -133,7 +133,7 @@ under the License.
 		<powermock.version>2.0.9</powermock.version>
 		<hamcrest.version>1.3</hamcrest.version>
 		<assertj.version>3.21.0</assertj.version>
-		<py4j.version>0.10.8.1</py4j.version>
+		<py4j.version>0.10.9.3</py4j.version>
 		<beam.version>2.27.0</beam.version>
 		<protoc.version>3.17.3</protoc.version>
 		<arrow.version>0.16.0</arrow.version>