diff --git a/cpp/thirdparty/versions.txt b/cpp/thirdparty/versions.txt
index 2664775c0fbf4..dd3f5da84f777 100644
--- a/cpp/thirdparty/versions.txt
+++ b/cpp/thirdparty/versions.txt
@@ -115,8 +115,8 @@ ARROW_UTF8PROC_BUILD_VERSION=v2.7.0
 ARROW_UTF8PROC_BUILD_SHA256_CHECKSUM=4bb121e297293c0fd55f08f83afab6d35d48f0af4ecc07523ad8ec99aa2b12a1
 ARROW_XSIMD_BUILD_VERSION=9.0.1
 ARROW_XSIMD_BUILD_SHA256_CHECKSUM=b1bb5f92167fd3a4f25749db0be7e61ed37e0a5d943490f3accdcd2cd2918cc0
-ARROW_ZLIB_BUILD_VERSION=1.3
-ARROW_ZLIB_BUILD_SHA256_CHECKSUM=ff0ba4c292013dbc27530b3a81e1f9a813cd39de01ca5e0f8bf355702efa593e
+ARROW_ZLIB_BUILD_VERSION=1.3.1
+ARROW_ZLIB_BUILD_SHA256_CHECKSUM=9a93b2b7dfdac77ceba5a558a580e74667dd6fede4585b91eefb60f03b72df23
 ARROW_ZSTD_BUILD_VERSION=1.5.5
 ARROW_ZSTD_BUILD_SHA256_CHECKSUM=9c4396cc829cfae319a6e2615202e82aad41372073482fce286fac78646d3ee4