diff --git a/package/gstreamer1/gstreamer1/gstreamer1.mk b/package/gstreamer1/gstreamer1/gstreamer1.mk
index cf2a86d83..a9c2ff43e 100644
--- a/package/gstreamer1/gstreamer1/gstreamer1.mk
+++ b/package/gstreamer1/gstreamer1/gstreamer1.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-GSTREAMER1_VERSION = 1.2.2
+GSTREAMER1_VERSION = 1.2.3
 GSTREAMER1_SOURCE = gstreamer-$(GSTREAMER1_VERSION).tar.xz
 GSTREAMER1_SITE = http://gstreamer.freedesktop.org/src/gstreamer
 GSTREAMER1_INSTALL_STAGING = YES