diff --git a/istio.deps b/istio.deps
index e8ed33c82d22..d81cf20bee63 100644
--- a/istio.deps
+++ b/istio.deps
@@ -4,7 +4,7 @@
 		"name": "PROXY_REPO_SHA",
 		"repoName": "proxy",
 		"file": "",
-		"lastStableSHA": "e557f36997c551dba27a3140221397d9e14e14c8"
+		"lastStableSHA": "481d00ab40aee6ae74341e8f522d931bdd8e6951"
 	},
 	{
                 "_comment": "",