diff --git a/.pipelines/nuget_config/x64/packages.config b/.pipelines/nuget_config/x64/packages.config
index 8eef0b5bac..2ac650b0e6 100644
--- a/.pipelines/nuget_config/x64/packages.config
+++ b/.pipelines/nuget_config/x64/packages.config
@@ -1,6 +1,6 @@
 <?xml version="1.0" encoding="utf-8"?>
 <packages>
   <package id="python" version="3.9.7" targetFramework="native" />
-  <package id="Microsoft.AI.DirectML" version="1.12.0" targetFramework="native" />
+  <package id="Microsoft.AI.DirectML" version="1.12.1" targetFramework="native" />
   <package id="Microsoft.Windows.CppWinRT" version="2.0.201201.7" targetFramework="native" />
 </packages>
diff --git a/.pipelines/nuget_config/x86/packages.config b/.pipelines/nuget_config/x86/packages.config
index 81f97948f1..f80f96194a 100644
--- a/.pipelines/nuget_config/x86/packages.config
+++ b/.pipelines/nuget_config/x86/packages.config
@@ -1,6 +1,6 @@
 <?xml version="1.0" encoding="utf-8"?>
 <packages>
   <package id="pythonx86" version="3.9.7" targetFramework="native" />
-  <package id="Microsoft.AI.DirectML" version="1.12.0" targetFramework="native" />
+  <package id="Microsoft.AI.DirectML" version="1.12.1" targetFramework="native" />
   <package id="Microsoft.Windows.CppWinRT" version="2.0.201201.7" targetFramework="native" />
 </packages>
diff --git a/cmake/external/dml.cmake b/cmake/external/dml.cmake
index f446c2be98..5d25b9529e 100644
--- a/cmake/external/dml.cmake
+++ b/cmake/external/dml.cmake
@@ -41,7 +41,7 @@ if (NOT onnxruntime_USE_CUSTOM_DIRECTML)
   set(NUGET_CONFIG ${PROJECT_SOURCE_DIR}/../NuGet.config)
   set(PACKAGES_CONFIG ${PROJECT_SOURCE_DIR}/../packages.config)
   get_filename_component(PACKAGES_DIR ${CMAKE_CURRENT_BINARY_DIR}/../packages ABSOLUTE)
-  set(DML_PACKAGE_DIR ${PACKAGES_DIR}/Microsoft.AI.DirectML.1.12.0)
+  set(DML_PACKAGE_DIR ${PACKAGES_DIR}/Microsoft.AI.DirectML.1.12.1)
 
   # Restore nuget packages, which will pull down the DirectML redist package.
   add_custom_command(
diff --git a/packages.config b/packages.config
index b2c918c414..da61a10adf 100644
--- a/packages.config
+++ b/packages.config
@@ -1,6 +1,6 @@
 <?xml version="1.0" encoding="utf-8"?>
 <packages>
-  <package id="Microsoft.AI.DirectML" version="1.12.0" targetFramework="native" />
+  <package id="Microsoft.AI.DirectML" version="1.12.1" targetFramework="native" />
   <package id="Microsoft.Windows.CppWinRT" version="2.0.201201.7" targetFramework="native" />
   <package id="google.protobuf.tools" version="3.21.12" targetFramework="native" />
 </packages>
diff --git a/tools/nuget/generate_nuspec_for_native_nuget.py b/tools/nuget/generate_nuspec_for_native_nuget.py
index fc85d87c7d..9dc36633a5 100644
--- a/tools/nuget/generate_nuspec_for_native_nuget.py
+++ b/tools/nuget/generate_nuspec_for_native_nuget.py
@@ -190,7 +190,7 @@ def generate_repo_url(line_list, repo_url, commit_id):
 
 
 def generate_dependencies(xml_text, package_name, version):
-    dml_dependency = '<dependency id="Microsoft.AI.DirectML" version="1.12.0"/>'
+    dml_dependency = '<dependency id="Microsoft.AI.DirectML" version="1.12.1"/>'
 
     if package_name == "Microsoft.AI.MachineLearning":
         xml_text.append("<dependencies>")