diff --git a/packages/rancher-istio/rancher-tracing/charts/Chart.yaml b/packages/rancher-istio/rancher-tracing/charts/Chart.yaml
index dbc567390..ccbd256c1 100644
--- a/packages/rancher-istio/rancher-tracing/charts/Chart.yaml
+++ b/packages/rancher-istio/rancher-tracing/charts/Chart.yaml
@@ -5,8 +5,8 @@ annotations:
   catalog.rancher.io/namespace: istio-system
   catalog.rancher.io/release-name: rancher-tracing
 apiVersion: v1
-appVersion: 1.27.0
+appVersion: 1.31.0
 description: A quick start Jaeger Tracing installation using the all-in-one demo.
   This is not production qualified. Refer to https://www.jaegertracing.io/ for details.
 name: rancher-tracing
-version: 1.27.0
+version: 1.31.0
diff --git a/packages/rancher-istio/rancher-tracing/charts/values.yaml b/packages/rancher-istio/rancher-tracing/charts/values.yaml
index 025da7301..df6e93630 100644
--- a/packages/rancher-istio/rancher-tracing/charts/values.yaml
+++ b/packages/rancher-istio/rancher-tracing/charts/values.yaml
@@ -29,7 +29,7 @@ global:
 
 jaeger:
   repository: rancher/mirrored-jaegertracing-all-in-one
-  tag: 1.27.0
+  tag: 1.31.0
   # spanStorageType value can be "memory" and "badger" for all-in-one image
   spanStorageType: badger
   resources: