diff --git a/chart/values.yaml b/chart/values.yaml
index 33c3dd35f2d0784fb355e10f00e6a07526d8e429..eeac82b159833d7ebfb04d5a720ae324370a2030 100644
--- a/chart/values.yaml
+++ b/chart/values.yaml
@@ -147,7 +147,7 @@ istio:
   git:
     repo: https://repo1.dso.mil/platform-one/big-bang/apps/core/istio-controlplane.git
     path: "./chart"
-    tag: "1.16.1-bb.2"
+    tag: "1.16.2-bb.0"
 
   # -- Tetrate Istio Distribution - Tetrate provides FIPs verified Istio and Envoy software and support,
   # validated through the FIPs Boring Crypto module. Find out more from Tetrate - https://www.tetrate.io/tetrate-istio-subscription
@@ -263,7 +263,7 @@ istiooperator:
   git:
     repo: https://repo1.dso.mil/platform-one/big-bang/apps/core/istio-operator.git
     path: "./chart"
-    tag: "1.16.1-bb.1"
+    tag: "1.16.2-bb.0"
 
   # -- Flux reconciliation overrides specifically for the Istio Operator Package
   flux: {}