diff --git a/cpp/cmake_modules/ThirdpartyToolchain.cmake b/cpp/cmake_modules/ThirdpartyToolchain.cmake
index 5b89a831ff7fe..d2a2812983fdc 100644
--- a/cpp/cmake_modules/ThirdpartyToolchain.cmake
+++ b/cpp/cmake_modules/ThirdpartyToolchain.cmake
@@ -2881,7 +2881,7 @@ macro(build_absl)
   set(ABSL_PREFIX "${CMAKE_CURRENT_BINARY_DIR}/absl_ep-install")
   set(ABSL_INCLUDE_DIR "${ABSL_PREFIX}/include")
   set(ABSL_CMAKE_ARGS "${EP_COMMON_CMAKE_ARGS}" -DABSL_RUN_TESTS=OFF
-                      "-DCMAKE_INSTALL_PREFIX=${ABSL_PREFIX}")
+                      "-DCMAKE_INSTALL_PREFIX=${ABSL_PREFIX}" -DABSL_PROPAGATE_CXX_STD=ON)
   set(ABSL_BUILD_BYPRODUCTS)
   set(ABSL_LIBRARIES)
 
@@ -3690,6 +3690,7 @@ macro(build_absl)
                         absl::strings
                         absl::cord
                         absl::str_format
+                        absl::strerror
                         absl::optional)
   set_property(TARGET absl::statusor
                PROPERTY INTERFACE_LINK_LIBRARIES
diff --git a/cpp/thirdparty/versions.txt b/cpp/thirdparty/versions.txt
index ab988badec145..9fa9f4a3df611 100644
--- a/cpp/thirdparty/versions.txt
+++ b/cpp/thirdparty/versions.txt
@@ -23,8 +23,8 @@
 # `DEPENDENCIES` array (see the comment on top of the declaration for the
 # format).
 
-ARROW_ABSL_BUILD_VERSION=20211102.0
-ARROW_ABSL_BUILD_SHA256_CHECKSUM=dcf71b9cba8dc0ca9940c4b316a0c796be8fab42b070bb6b7cab62b48f0e66c4
+ARROW_ABSL_BUILD_VERSION=20220623.2
+ARROW_ABSL_BUILD_SHA256_CHECKSUM=773652c0fc276bcd5c461668dc112d0e3b6cde499600bfe3499c5fdda4ed4a5b
 ARROW_AWS_C_AUTH_BUILD_VERSION=v0.6.22
 ARROW_AWS_C_AUTH_BUILD_SHA256_CHECKSUM=691a6b4418afcd3dc141351b6ad33fccd8e3ff84df0e9e045b42295d284ee14c
 ARROW_AWS_C_CAL_BUILD_VERSION=v0.5.20