diff --git a/Dockerfile b/Dockerfile
index 463e1753ba..860757208b 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -192,7 +192,7 @@ RUN git init . && git remote add origin "https://github.com/containerd/container
 # When updating the binary version you may also need to update the vendor
 # version to pick up bug fixes or new APIs, however, usually the Go packages
 # are built from a commit from the master branch.
-ARG CONTAINERD_VERSION=v1.7.0-beta.1
+ARG CONTAINERD_VERSION=v1.7.0-beta.3
 RUN git fetch -q --depth 1 origin "${CONTAINERD_VERSION}" +refs/tags/*:refs/tags/* && git checkout -q FETCH_HEAD
 
 FROM base AS containerd-build
diff --git a/Dockerfile.windows b/Dockerfile.windows
index d63edca611..ba6e9f6ffe 100644
--- a/Dockerfile.windows
+++ b/Dockerfile.windows
@@ -168,7 +168,7 @@ SHELL ["powershell", "-Command", "$ErrorActionPreference = 'Stop'; $ProgressPref
 ARG GO_VERSION=1.19.5
 ARG GOTESTSUM_VERSION=v1.8.2
 ARG GOWINRES_VERSION=v0.3.0
-ARG CONTAINERD_VERSION=v1.7.0-beta.1
+ARG CONTAINERD_VERSION=v1.7.0-beta.3
 
 # Environment variable notes:
 #  - GO_VERSION must be consistent with 'Dockerfile' used by Linux.
diff --git a/hack/dockerfile/install/containerd.installer b/hack/dockerfile/install/containerd.installer
index 7d74368493..6d935d857f 100755
--- a/hack/dockerfile/install/containerd.installer
+++ b/hack/dockerfile/install/containerd.installer
@@ -15,7 +15,7 @@ set -e
 # the binary version you may also need to update the vendor version to pick up
 # bug fixes or new APIs, however, usually the Go packages are built from a
 # commit from the master branch.
-: "${CONTAINERD_VERSION:=v1.7.0-beta.1}"
+: "${CONTAINERD_VERSION:=v1.7.0-beta.3}"
 
 install_containerd() (
 	echo "Install containerd version $CONTAINERD_VERSION"