diff --git a/web3.js/package-lock.json b/web3.js/package-lock.json
index 39778b9966219a..208ea653e8c319 100644
--- a/web3.js/package-lock.json
+++ b/web3.js/package-lock.json
@@ -9,7 +9,7 @@
       "version": "0.0.0-development",
       "license": "MIT",
       "dependencies": {
-        "@babel/runtime": "^7.12.5",
+        "@babel/runtime": "^7.21.5",
         "@ethersproject/sha2": "^5.5.0",
         "@solana/buffer-layout": "^3.0.0",
         "bn.js": "^5.0.0",
@@ -1765,11 +1765,11 @@
       }
     },
     "node_modules/@babel/runtime": {
-      "version": "7.16.3",
-      "resolved": "https://registry.npmjs.org/@babel/runtime/-/runtime-7.16.3.tgz",
-      "integrity": "sha512-WBwekcqacdY2e9AF/Q7WLFUWmdJGJTkbjqTjoMDgXkVZ3ZRUvOPsLb5KdwISoQVsbP+DQzVZW4Zhci0DvpbNTQ==",
+      "version": "7.21.5",
+      "resolved": "https://registry.npmjs.org/@babel/runtime/-/runtime-7.21.5.tgz",
+      "integrity": "sha512-8jI69toZqqcsnqGGqwGS4Qb1VwLOEp4hz+CXPywcvjs60u3B4Pom/U/7rm4W8tMOYEB+E9wgD0mW1l3r8qlI9Q==",
       "dependencies": {
-        "regenerator-runtime": "^0.13.4"
+        "regenerator-runtime": "^0.13.11"
       },
       "engines": {
         "node": ">=6.9.0"
@@ -15281,9 +15281,9 @@
       }
     },
     "node_modules/regenerator-runtime": {
-      "version": "0.13.7",
-      "resolved": "https://registry.npmjs.org/regenerator-runtime/-/regenerator-runtime-0.13.7.tgz",
-      "integrity": "sha512-a54FxoJDIr27pgf7IgeQGxmqUNYrcV338lf/6gH456HZ/PhX+5BcwHXG9ajESmwe6WRO0tAzRUrRmNONWgkrew=="
+      "version": "0.13.11",
+      "resolved": "https://registry.npmjs.org/regenerator-runtime/-/regenerator-runtime-0.13.11.tgz",
+      "integrity": "sha512-kY1AZVr2Ra+t+piVaJ4gxaFaReZVH40AKNo7UCX6W+dEwBo/2oZJzqfuN1qLq1oL45o56cPaTXELwrTh8Fpggg=="
     },
     "node_modules/regenerator-transform": {
       "version": "0.14.5",
@@ -19145,11 +19145,11 @@
       }
     },
     "@babel/runtime": {
-      "version": "7.16.3",
-      "resolved": "https://registry.npmjs.org/@babel/runtime/-/runtime-7.16.3.tgz",
-      "integrity": "sha512-WBwekcqacdY2e9AF/Q7WLFUWmdJGJTkbjqTjoMDgXkVZ3ZRUvOPsLb5KdwISoQVsbP+DQzVZW4Zhci0DvpbNTQ==",
+      "version": "7.21.5",
+      "resolved": "https://registry.npmjs.org/@babel/runtime/-/runtime-7.21.5.tgz",
+      "integrity": "sha512-8jI69toZqqcsnqGGqwGS4Qb1VwLOEp4hz+CXPywcvjs60u3B4Pom/U/7rm4W8tMOYEB+E9wgD0mW1l3r8qlI9Q==",
       "requires": {
-        "regenerator-runtime": "^0.13.4"
+        "regenerator-runtime": "^0.13.11"
       }
     },
     "@babel/template": {
@@ -29551,9 +29551,9 @@
       }
     },
     "regenerator-runtime": {
-      "version": "0.13.7",
-      "resolved": "https://registry.npmjs.org/regenerator-runtime/-/regenerator-runtime-0.13.7.tgz",
-      "integrity": "sha512-a54FxoJDIr27pgf7IgeQGxmqUNYrcV338lf/6gH456HZ/PhX+5BcwHXG9ajESmwe6WRO0tAzRUrRmNONWgkrew=="
+      "version": "0.13.11",
+      "resolved": "https://registry.npmjs.org/regenerator-runtime/-/regenerator-runtime-0.13.11.tgz",
+      "integrity": "sha512-kY1AZVr2Ra+t+piVaJ4gxaFaReZVH40AKNo7UCX6W+dEwBo/2oZJzqfuN1qLq1oL45o56cPaTXELwrTh8Fpggg=="
     },
     "regenerator-transform": {
       "version": "0.14.5",
diff --git a/web3.js/package.json b/web3.js/package.json
index ad9c321d3dff3d..ccb865688b41e0 100644
--- a/web3.js/package.json
+++ b/web3.js/package.json
@@ -58,7 +58,7 @@
     "test:live-with-test-validator": "start-server-and-test 'solana-test-validator --reset --quiet' http://localhost:8899/health test:live"
   },
   "dependencies": {
-    "@babel/runtime": "^7.12.5",
+    "@babel/runtime": "^7.21.5",
     "@ethersproject/sha2": "^5.5.0",
     "@solana/buffer-layout": "^3.0.0",
     "bn.js": "^5.0.0",