diff --git a/Tiltfile b/Tiltfile
index 2f4b354e6b..6e96228193 100644
--- a/Tiltfile
+++ b/Tiltfile
@@ -15,7 +15,7 @@ settings = {
     "kind_cluster_name": "capm3",
     "capi_version": "$CAPIRELEASE",
     "kubernetes_version": "$KUBERNETES_VERSION",
-    "cert_manager_version": "v1.11.1",
+    "cert_manager_version": "v1.12.3",
     "enable_providers": [],
 }
 
diff --git a/examples/generate.sh b/examples/generate.sh
index 4b6bfce6e0..c6da06679c 100755
--- a/examples/generate.sh
+++ b/examples/generate.sh
@@ -115,7 +115,7 @@ echo "Generated ${METAL3PLANE_GENERATED_FILE}"
 echo "Generated ${MACHINEDEPLOYMENT_GENERATED_FILE}"
 
 # Get Cert-manager provider components file
-curl --fail -Ss -L -o "${COMPONENTS_CERT_MANAGER_GENERATED_FILE}" https://github.com/cert-manager/cert-manager/releases/download/v1.11.1/cert-manager.yaml
+curl --fail -Ss -L -o "${COMPONENTS_CERT_MANAGER_GENERATED_FILE}" https://github.com/cert-manager/cert-manager/releases/download/v1.12.3/cert-manager.yaml
 echo "Downloaded ${COMPONENTS_CERT_MANAGER_GENERATED_FILE}"
 
 # Generate Cluster API provider components file.
diff --git a/hack/gen_tilt_settings.sh b/hack/gen_tilt_settings.sh
index 9315d77322..5ea9d7d394 100755
--- a/hack/gen_tilt_settings.sh
+++ b/hack/gen_tilt_settings.sh
@@ -47,7 +47,7 @@ export CAPIRELEASE="${CAPIRELEASE:-$(get_latest_release "${CAPIRELEASEPATH}" "v1
 cat <<EOF >tilt-settings.json
 {
     "capi_version": "${CAPIRELEASE}",
-    "cert_manager_version": "v1.11.1",
+    "cert_manager_version": "v1.12.3",
     "kubernetes_version": "${KUBERNETES_VERSION:-v1.28.1}"
 }
 EOF
diff --git a/test/e2e/config/e2e_conf.yaml b/test/e2e/config/e2e_conf.yaml
index b6fcc025e9..ff6f3f6cf8 100644
--- a/test/e2e/config/e2e_conf.yaml
+++ b/test/e2e/config/e2e_conf.yaml
@@ -134,7 +134,7 @@ variables:
   # Pin Calico version
   CALICO_PATCH_RELEASE: "v3.25.1"
   # Pin CertManager for upgrade tests
-  CERT_MANAGER_RELEASE: v1.11.1
+  CERT_MANAGER_RELEASE: v1.12.3
   # Default vars for the template, those values could be overridden by the env-vars.
   CAPI_VERSION: "v1beta1"
   CAPM3_VERSION: "v1beta1"