diff --git a/Cargo.lock b/Cargo.lock
index 17d2e82596526..2c72acf36b4f7 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -745,9 +745,9 @@ checksum = "63396b8a4b9de3f4fdfb320ab6080762242f66a8ef174c49d8e19b674db4cdbe"
 
 [[package]]
 name = "byte-slice-cast"
-version = "1.0.0"
+version = "1.2.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "65c1bf4a04a88c54f589125563643d773f3254b5c38571395e2b591c693bbc81"
+checksum = "87c5fdd0166095e1d463fc6cc01aa8ce547ad77a4e84d42eb6762b084e28067e"
 
 [[package]]
 name = "byte-tools"
@@ -6460,9 +6460,9 @@ dependencies = [
 
 [[package]]
 name = "parity-scale-codec"
-version = "3.0.0"
+version = "3.2.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2a7f3fcf5e45fc28b84dcdab6b983e77f197ec01f325a33f404ba6855afd1070"
+checksum = "366e44391a8af4cfd6002ef6ba072bae071a96aafca98d7d448a34c5dca38b6a"
 dependencies = [
  "arrayvec 0.7.1",
  "bitvec",
@@ -6474,9 +6474,9 @@ dependencies = [
 
 [[package]]
 name = "parity-scale-codec-derive"
-version = "3.0.0"
+version = "3.1.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2c6e626dc84025ff56bf1476ed0e30d10c84d7f89a475ef46ebabee1095a8fba"
+checksum = "9299338969a3d2f491d65f140b00ddec470858402f888af98e8642fb5e8965cd"
 dependencies = [
  "proc-macro-crate",
  "proc-macro2",
@@ -9166,9 +9166,9 @@ checksum = "388a1df253eca08550bef6c72392cfe7c30914bf41df5269b68cbd6ff8f570a3"
 
 [[package]]
 name = "serde"
-version = "1.0.136"
+version = "1.0.144"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ce31e24b01e1e524df96f1c2fdd054405f8d7376249a5110886fb4b658484789"
+checksum = "0f747710de3dcd43b88c9168773254e809d8ddbdf9653b84e2554ab219f17860"
 dependencies = [
  "serde_derive",
 ]
@@ -9194,9 +9194,9 @@ dependencies = [
 
 [[package]]
 name = "serde_derive"
-version = "1.0.136"
+version = "1.0.144"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "08597e7152fcd306f41838ed3e37be9eaeed2b61c42e2117266a554fab4662f9"
+checksum = "94ed3a816fb1d101812f83e789f888322c34e291f894f19590dc310963e87a00"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -10606,9 +10606,9 @@ checksum = "1e81da0851ada1f3e9d4312c704aa4f8806f0f9d69faaf8df2f3464b4a9437c2"
 
 [[package]]
 name = "syn"
-version = "1.0.82"
+version = "1.0.94"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8daf5dd0bb60cbd4137b1b587d2fc0ae729bc07cf01cd70b36a1ed5ade3b9d59"
+checksum = "a07e33e919ebcd69113d5be0e4d70c5707004ff45188910106854f38b960df4a"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/client/cli/Cargo.toml b/client/cli/Cargo.toml
index 456489e5f6639..1f651e9f0876a 100644
--- a/client/cli/Cargo.toml
+++ b/client/cli/Cargo.toml
@@ -21,7 +21,7 @@ hex = "0.4.2"
 libp2p = "0.44.0"
 log = "0.4.17"
 names = { version = "0.13.0", default-features = false }
-parity-scale-codec = "3.0.0"
+parity-scale-codec = "3.2.1"
 rand = "0.7.3"
 regex = "1.5.5"
 rpassword = "5.0.0"
diff --git a/client/finality-grandpa/Cargo.toml b/client/finality-grandpa/Cargo.toml
index 2f7fcd4d052b1..b0f638e57d633 100644
--- a/client/finality-grandpa/Cargo.toml
+++ b/client/finality-grandpa/Cargo.toml
@@ -22,7 +22,7 @@ futures = "0.3.21"
 futures-timer = "3.0.1"
 hex = "0.4.2"
 log = "0.4.17"
-parity-scale-codec = { version = "3.0.0", features = ["derive"] }
+parity-scale-codec = { version = "3.2.1", features = ["derive"] }
 parking_lot = "0.12.0"
 rand = "0.8.4"
 serde_json = "1.0.79"
diff --git a/client/service/test/Cargo.toml b/client/service/test/Cargo.toml
index d003db57eb7ac..72eea4aee5d57 100644
--- a/client/service/test/Cargo.toml
+++ b/client/service/test/Cargo.toml
@@ -17,7 +17,7 @@ futures = "0.3.21"
 hex = "0.4"
 hex-literal = "0.3.4"
 log = "0.4.17"
-parity-scale-codec = "3.0.0"
+parity-scale-codec = "3.2.1"
 parking_lot = "0.12.0"
 tempfile = "3.1.0"
 tokio = { version = "1.17.0", features = ["time"] }
diff --git a/frame/election-provider-support/solution-type/Cargo.toml b/frame/election-provider-support/solution-type/Cargo.toml
index 8fd7ddbff434d..97250c4b24d0e 100644
--- a/frame/election-provider-support/solution-type/Cargo.toml
+++ b/frame/election-provider-support/solution-type/Cargo.toml
@@ -21,7 +21,7 @@ proc-macro2 = "1.0.37"
 proc-macro-crate = "1.1.3"
 
 [dev-dependencies]
-parity-scale-codec = "3.0.0"
+parity-scale-codec = "3.2.1"
 scale-info = "2.1.1"
 sp-arithmetic = { version = "5.0.0", path = "../../../primitives/arithmetic" }
 # used by generate_solution_type:
diff --git a/utils/frame/try-runtime/cli/Cargo.toml b/utils/frame/try-runtime/cli/Cargo.toml
index a357378dc1903..f10c71a1ae7a5 100644
--- a/utils/frame/try-runtime/cli/Cargo.toml
+++ b/utils/frame/try-runtime/cli/Cargo.toml
@@ -15,7 +15,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 [dependencies]
 clap = { version = "3.1.18", features = ["derive"] }
 log = "0.4.17"
-parity-scale-codec = "3.0.0"
+parity-scale-codec = "3.2.1"
 serde = "1.0.136"
 zstd = { version = "0.10.0", default-features = false }
 remote-externalities = { version = "0.10.0-dev", path = "../../remote-externalities" }