diff --git a/CHANGELOG.md b/CHANGELOG.md
index f5b1f8c348a0..f8cfbec64910 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -41,7 +41,11 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 * [\#9860](https://github.com/cosmos/cosmos-sdk/pull/9860) Emit transaction fee in ante handler fee decorator. The event type is `tx` and the attribute is `fee`.
 
- ### Deprecated
+### Improvements
+
+* (deps) [\#9956](https://github.com/cosmos/cosmos-sdk/pull/9956) Bump Tendermint to [v0.34.12](https://github.com/tendermint/tendermint/releases/tag/v0.34.12).
+
+### Deprecated
 
 * (x/upgrade) [\#9906](https://github.com/cosmos/cosmos-sdk/pull/9906) Deprecate `UpgradeConsensusState` gRPC query since this functionality is only used for IBC, which now has its own [IBC replacement](https://github.com/cosmos/ibc-go/blob/2c880a22e9f9cc75f62b527ca94aa75ce1106001/proto/ibc/core/client/v1/query.proto#L54)
 
diff --git a/go.mod b/go.mod
index 16ff3d039235..943a61164ba7 100644
--- a/go.mod
+++ b/go.mod
@@ -44,7 +44,7 @@ require (
 	github.com/tendermint/btcd v0.1.1
 	github.com/tendermint/crypto v0.0.0-20191022145703-50d29ede1e15
 	github.com/tendermint/go-amino v0.16.0
-	github.com/tendermint/tendermint v0.34.11
+	github.com/tendermint/tendermint v0.34.12
 	github.com/tendermint/tm-db v0.6.4
 	golang.org/x/crypto v0.0.0-20201221181555-eec23a3978ad
 	google.golang.org/genproto v0.0.0-20210602131652-f16073e35f0c
diff --git a/go.sum b/go.sum
index 9d5eba51d90c..f43bd78b8f57 100644
--- a/go.sum
+++ b/go.sum
@@ -750,8 +750,8 @@ github.com/tendermint/tendermint v0.34.0-rc4/go.mod h1:yotsojf2C1QBOw4dZrTcxbyxm
 github.com/tendermint/tendermint v0.34.0-rc6/go.mod h1:ugzyZO5foutZImv0Iyx/gOFCX6mjJTgbLHTwi17VDVg=
 github.com/tendermint/tendermint v0.34.0/go.mod h1:Aj3PIipBFSNO21r+Lq3TtzQ+uKESxkbA3yo/INM4QwQ=
 github.com/tendermint/tendermint v0.34.10/go.mod h1:aeHL7alPh4uTBIJQ8mgFEE8VwJLXI1VD3rVOmH2Mcy0=
-github.com/tendermint/tendermint v0.34.11 h1:q1Yh76oG4QbS07xhmIJh5iAE0fYpJ8P8YKYtjnWfJRY=
-github.com/tendermint/tendermint v0.34.11/go.mod h1:aeHL7alPh4uTBIJQ8mgFEE8VwJLXI1VD3rVOmH2Mcy0=
+github.com/tendermint/tendermint v0.34.12 h1:m+kUYNhONedhJfHmHG8lqsdZvbR5t6vmhaok1yXjpKg=
+github.com/tendermint/tendermint v0.34.12/go.mod h1:aeHL7alPh4uTBIJQ8mgFEE8VwJLXI1VD3rVOmH2Mcy0=
 github.com/tendermint/tm-db v0.6.2/go.mod h1:GYtQ67SUvATOcoY8/+x6ylk8Qo02BQyLrAs+yAcLvGI=
 github.com/tendermint/tm-db v0.6.3/go.mod h1:lfA1dL9/Y/Y8wwyPp2NMLyn5P5Ptr/gvDFNWtrCWSf8=
 github.com/tendermint/tm-db v0.6.4 h1:3N2jlnYQkXNQclQwd/eKV/NzlqPlfK21cpRRIx80XXQ=