diff --git a/charts/crossplane-provider/templates/opentofu/opentofu-provider.yaml b/charts/crossplane-provider/templates/opentofu/opentofu-provider.yaml
index b5eb93f1..397bb5a0 100644
--- a/charts/crossplane-provider/templates/opentofu/opentofu-provider.yaml
+++ b/charts/crossplane-provider/templates/opentofu/opentofu-provider.yaml
@@ -4,4 +4,4 @@ metadata:
   name: provider-opentofu
 spec:
   # crossplane 1.20 changes default registry from xpkg.upbound.io to xpkg.crossplane.io
-  package: xpkg.upbound.io/upbound/provider-opentofu:v0.2.7 # renovate: datasource=github-releases depName=upbound/provider-opentofu
+  package: xpkg.upbound.io/upbound/provider-opentofu:v1.0.3 # renovate: datasource=github-releases depName=upbound/provider-opentofu