diff --git a/Makefile b/Makefile
index 8c19aad4f39..b83d5d01eea 100644
--- a/Makefile
+++ b/Makefile
@@ -279,7 +279,7 @@ create-management-cluster: $(KUSTOMIZE) $(ENVSUBST) $(KUBECTL) $(KIND) ## Create
 	./hack/create-custom-cloud-provider-config.sh
 
 	# Deploy CAPI
-	curl --retry $(CURL_RETRIES) -sSL https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.1/cluster-api-components.yaml | $(ENVSUBST) | $(KUBECTL) apply -f -
+	curl --retry $(CURL_RETRIES) -sSL https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.3/cluster-api-components.yaml | $(ENVSUBST) | $(KUBECTL) apply -f -
 
 	# Deploy CAPZ
 	$(KIND) load docker-image $(CONTROLLER_IMG)-$(ARCH):$(TAG) --name=capz
@@ -684,7 +684,7 @@ test-e2e-skip-build-and-push:
 	MANAGER_IMAGE=$(CONTROLLER_IMG)-$(ARCH):$(TAG) \
 	$(MAKE) test-e2e-run
 
-CONFORMANCE_FLAVOR ?= 
+CONFORMANCE_FLAVOR ?=
 CONFORMANCE_E2E_ARGS ?= -kubetest.config-file=$(KUBETEST_CONF_PATH)
 CONFORMANCE_E2E_ARGS += $(E2E_ARGS)
 .PHONY: test-conformance
diff --git a/Tiltfile b/Tiltfile
index 95d0349cc31..1d94b94b991 100644
--- a/Tiltfile
+++ b/Tiltfile
@@ -19,7 +19,7 @@ settings = {
     "deploy_cert_manager": True,
     "preload_images_for_kind": True,
     "kind_cluster_name": "capz",
-    "capi_version": "v1.3.1",
+    "capi_version": "v1.3.3",
     "cert_manager_version": "v1.11.0",
     "kubernetes_version": "v1.24.6",
     "aks_kubernetes_version": "v1.24.6",
diff --git a/go.mod b/go.mod
index 1155c0ee7ee..c6e2250da77 100644
--- a/go.mod
+++ b/go.mod
@@ -47,8 +47,8 @@ require (
 	k8s.io/kubectl v0.25.0
 	k8s.io/utils v0.0.0-20220823124924-e9cbc92d1a73
 	sigs.k8s.io/cloud-provider-azure v1.25.5
-	sigs.k8s.io/cluster-api v1.3.1
-	sigs.k8s.io/cluster-api/test v1.3.1
+	sigs.k8s.io/cluster-api v1.3.3
+	sigs.k8s.io/cluster-api/test v1.3.3
 	sigs.k8s.io/controller-runtime v0.13.1
 	sigs.k8s.io/kind v0.17.0
 )
@@ -219,4 +219,4 @@ require (
 	sigs.k8s.io/yaml v1.3.0 // indirect
 )
 
-replace sigs.k8s.io/cluster-api => sigs.k8s.io/cluster-api v1.3.1
+replace sigs.k8s.io/cluster-api => sigs.k8s.io/cluster-api v1.3.3
diff --git a/go.sum b/go.sum
index 9fe19e1ee41..837ec2884ce 100644
--- a/go.sum
+++ b/go.sum
@@ -1292,10 +1292,10 @@ rsc.io/quote/v3 v3.1.0/go.mod h1:yEA65RcK8LyAZtP9Kv3t0HmxON59tX3rD+tICJqUlj0=
 rsc.io/sampler v1.3.0/go.mod h1:T1hPZKmBbMNahiBKFy5HrXp6adAjACjK9JXDnKaTXpA=
 sigs.k8s.io/cloud-provider-azure v1.25.5 h1:YRq/wStyUtxgtMrAuRg+4FS0Gylt6MRatA8z5uag0/s=
 sigs.k8s.io/cloud-provider-azure v1.25.5/go.mod h1:estRnm6TL3dWLQTVoej4+0ygXyhIZmpszBXipHrfuZ0=
-sigs.k8s.io/cluster-api v1.3.1 h1:sFd/ayOhQxd4YZX1qw8HC2xO7eKRBNRL+mlCKwdVhvY=
-sigs.k8s.io/cluster-api v1.3.1/go.mod h1:ef5vvtp2PyhEHTYCw8niaVPlOX5Ntvrh+8oBZt0PJ08=
-sigs.k8s.io/cluster-api/test v1.3.1 h1:5j0EJi58qgP6Ga9W0fI/T0rW+CeKPq1BoOg30Yx9zfI=
-sigs.k8s.io/cluster-api/test v1.3.1/go.mod h1:aK8zSbF7gQyoM2FaPVFcE0o125feyRXVKlw03Ok+feA=
+sigs.k8s.io/cluster-api v1.3.3 h1:sHRAbuev6+bz3OAySmdmT62md/D/UUIy0EYwvP38H/4=
+sigs.k8s.io/cluster-api v1.3.3/go.mod h1:nnXmR51rHshpMEXmB4LZIwdiXWKXV6yaooB1KzrL0Qs=
+sigs.k8s.io/cluster-api/test v1.3.3 h1:AzX6zWneNOv3umK9PnhON5kjt2MJaw0jvFl39ReWL28=
+sigs.k8s.io/cluster-api/test v1.3.3/go.mod h1:HKkh1O4lALo51GsXVIJ1rQNyLRE+CbEVcA+f/1gU5Rw=
 sigs.k8s.io/controller-runtime v0.13.1 h1:tUsRCSJVM1QQOOeViGeX3GMT3dQF1eePPw6sEE3xSlg=
 sigs.k8s.io/controller-runtime v0.13.1/go.mod h1:Zbz+el8Yg31jubvAEyglRZGdLAjplZl+PgtYNI6WNTI=
 sigs.k8s.io/json v0.0.0-20220713155537-f223a00ba0e2 h1:iXTIw73aPyC+oRdyqqvVJuloN1p0AC/kzH07hu3NE+k=
diff --git a/test/e2e/config/azure-dev.yaml b/test/e2e/config/azure-dev.yaml
index ae1f2a0866b..271e371b38a 100644
--- a/test/e2e/config/azure-dev.yaml
+++ b/test/e2e/config/azure-dev.yaml
@@ -3,11 +3,11 @@ managementClusterName: capz-e2e
 images:
   - name: ${MANAGER_IMAGE}
     loadBehavior: mustLoad
-  - name: registry.k8s.io/cluster-api/cluster-api-controller:v1.3.1
+  - name: registry.k8s.io/cluster-api/cluster-api-controller:v1.3.3
     loadBehavior: tryLoad
-  - name: registry.k8s.io/cluster-api/kubeadm-bootstrap-controller:v1.3.1
+  - name: registry.k8s.io/cluster-api/kubeadm-bootstrap-controller:v1.3.3
     loadBehavior: tryLoad
-  - name: registry.k8s.io/cluster-api/kubeadm-control-plane-controller:v1.3.1
+  - name: registry.k8s.io/cluster-api/kubeadm-control-plane-controller:v1.3.3
     loadBehavior: tryLoad
 
 providers:
@@ -23,8 +23,8 @@ providers:
           new: --metrics-addr=:8080
       files:
         - sourcePath: "../data/shared/v1alpha4/metadata.yaml"
-    - name: v1.3.1
-      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.1/core-components.yaml
+    - name: v1.3.3
+      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.3/core-components.yaml
       type: url
       contract: v1beta1
       files:
@@ -46,8 +46,8 @@ providers:
           new: --metrics-addr=:8080
       files:
         - sourcePath: "../data/shared/v1alpha4/metadata.yaml"
-    - name: v1.3.1
-      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.1/bootstrap-components.yaml
+    - name: v1.3.3
+      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.3/bootstrap-components.yaml
       type: url
       contract: v1beta1
       files:
@@ -68,8 +68,8 @@ providers:
           new: --metrics-addr=:8080
       files:
         - sourcePath: "../data/shared/v1alpha4/metadata.yaml"
-    - name: v1.3.1
-      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.0/control-plane-components.yaml
+    - name: v1.3.3
+      value: https://github.com/kubernetes-sigs/cluster-api/releases/download/v1.3.3/control-plane-components.yaml
       type: url
       contract: v1beta1
       files: