diff --git a/Cargo.lock b/Cargo.lock
index d5937c45ba..b69f0e6068 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -3844,7 +3844,7 @@ dependencies = [
  "parity-scale-codec",
  "pretty_assertions",
  "scale-info",
- "schemars 0.8.22",
+ "schemars 1.2.0",
  "serde",
  "serde_json",
 ]
@@ -6503,7 +6503,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "3fbf2ae1b8bc8e02df939598064d22402220cd5bbcca1c76f7d6a310974d5615"
 dependencies = [
  "dyn-clone",
- "schemars_derive",
+ "schemars_derive 0.8.22",
  "serde",
  "serde_json",
 ]
@@ -6528,6 +6528,7 @@ checksum = "54e910108742c57a770f492731f99be216a52fadd361b06c8fb59d74ccc267d2"
 dependencies = [
  "dyn-clone",
  "ref-cast",
+ "schemars_derive 1.2.0",
  "serde",
  "serde_json",
 ]
@@ -6544,6 +6545,18 @@ dependencies = [
  "syn 2.0.114",
 ]
 
+[[package]]
+name = "schemars_derive"
+version = "1.2.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4908ad288c5035a8eb12cfdf0d49270def0a268ee162b75eeee0f85d155a7c45"
+dependencies = [
+ "proc-macro2",
+ "quote",
+ "serde_derive_internals",
+ "syn 2.0.114",
+]
+
 [[package]]
 name = "schnellru"
 version = "0.2.4"
diff --git a/Cargo.toml b/Cargo.toml
index e25f91893a..145a94ff36 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -61,7 +61,7 @@ scale = { package = "parity-scale-codec", version = "3.7.4", default-features =
 scale-decode = { version = "0.16.2", default-features = false }
 scale-encode = { version = "0.10.0", default-features = false }
 scale-info = { version = "2.11", default-features = false }
-schemars = { version = "0.8" }
+schemars = { version = "1.2" }
 secp256k1 = { version = "0.31.1" }
 serde = { version = "1.0.215", default-features = false }
 serde_json = { version = "1.0.145" }