diff --git a/cpp/thirdparty/versions.txt b/cpp/thirdparty/versions.txt
index 369a49744b4..5d8ccb86106 100644
--- a/cpp/thirdparty/versions.txt
+++ b/cpp/thirdparty/versions.txt
@@ -90,8 +90,8 @@ ARROW_OPENTELEMETRY_BUILD_VERSION=v1.13.0
 ARROW_OPENTELEMETRY_BUILD_SHA256_CHECKSUM=7735cc56507149686e6019e06f588317099d4522480be5f38a2a09ec69af1706
 ARROW_OPENTELEMETRY_PROTO_BUILD_VERSION=v0.17.0
 ARROW_OPENTELEMETRY_PROTO_BUILD_SHA256_CHECKSUM=f269fbcb30e17b03caa1decd231ce826e59d7651c0f71c3b28eb5140b4bb5412
-ARROW_ORC_BUILD_VERSION=2.0.1
-ARROW_ORC_BUILD_SHA256_CHECKSUM=1ffac0228aa83f04a1b1cf2788a3af5953e82587ae3a77c41900e99f2557132d
+ARROW_ORC_BUILD_VERSION=2.0.3
+ARROW_ORC_BUILD_SHA256_CHECKSUM=082cba862b5a8a0d14c225404d0b51cd8d1b64ca81b8f1e500322ce8922cb86d
 ARROW_PROTOBUF_BUILD_VERSION=v21.3
 ARROW_PROTOBUF_BUILD_SHA256_CHECKSUM=2f723218f6cb709ae4cdc4fb5ed56a5951fc5d466f0128ce4c946b8c78c8c49f
 # Because of https://github.com/Tencent/rapidjson/pull/1323, we require