diff --git a/tools/packaging/projects/reference/Microsoft.PowerShell.Commands.Utility/Microsoft.PowerShell.Commands.Utility.csproj b/tools/packaging/projects/reference/Microsoft.PowerShell.Commands.Utility/Microsoft.PowerShell.Commands.Utility.csproj
index 9d83e5e1840..7f9a6092efd 100644
--- a/tools/packaging/projects/reference/Microsoft.PowerShell.Commands.Utility/Microsoft.PowerShell.Commands.Utility.csproj
+++ b/tools/packaging/projects/reference/Microsoft.PowerShell.Commands.Utility/Microsoft.PowerShell.Commands.Utility.csproj
@@ -13,7 +13,7 @@
     </Reference>
   </ItemGroup>
   <ItemGroup>
-    <PackageReference Include="Newtonsoft.Json" Version="12.0.2" />
+    <PackageReference Include="Newtonsoft.Json" Version="12.0.3" />
     <PackageReference Include="System.Security.AccessControl" Version="4.7.0-preview2.19523.17" />
   </ItemGroup>
 </Project>