diff --git a/Makefile b/Makefile
index 0e742952..c90a525f 100644
--- a/Makefile
+++ b/Makefile
@@ -225,7 +225,8 @@ $(CONTROLLER_GEN): $(LOCALBIN)
 .PHONY: envtest
 envtest: $(ENVTEST) ## Download envtest-setup locally if necessary.
 $(ENVTEST): $(LOCALBIN)
-	test -s $(LOCALBIN)/setup-envtest || GOBIN=$(LOCALBIN) go install sigs.k8s.io/controller-runtime/tools/setup-envtest@latest
+	# TODO: revisit pinned version once https://github.com/kubernetes-sigs/controller-runtime/issues/2720 is fixed
+	test -s $(LOCALBIN)/setup-envtest || GOBIN=$(LOCALBIN) go install sigs.k8s.io/controller-runtime/tools/setup-envtest@c7e1dc9
 
 .PHONY: operator-sdk
 OPERATOR_SDK ?= $(LOCALBIN)/operator-sdk