diff --git a/chart/values.yaml b/chart/values.yaml
index 21bec4e89be6763e705c69f9102825d5dd575ec1..38214519fa092758c210831114e60cb7737fd4c0 100644
--- a/chart/values.yaml
+++ b/chart/values.yaml
@@ -1742,11 +1742,11 @@ addons:
     git:
       repo: https://repo1.dso.mil/big-bang/product/packages/velero.git
       path: "./chart"
-      tag: "7.1.5-bb.0"
+      tag: "7.2.1-bb.0"
     helmRepo:
       repoName: "registry1"
       chartName: "velero"
-      tag: "7.1.5-bb.0"
+      tag: "7.2.1-bb.0"
 
     # -- Flux reconciliation overrides specifically for the Velero Package
     flux: {}