diff --git a/internal/signalfx-agent/bundle/Dockerfile b/internal/signalfx-agent/bundle/Dockerfile
index 08514c82c6..7434856e50 100644
--- a/internal/signalfx-agent/bundle/Dockerfile
+++ b/internal/signalfx-agent/bundle/Dockerfile
@@ -15,8 +15,8 @@
 ARG ARCH=amd64
 ARG JDK_VERSION=11.0.22_7
 ARG MAVEN_VERSION=3.6.0
-ARG PYTHON_VERSION=3.11.8
-ARG PIP_VERSION=21.0.1
+ARG PYTHON_VERSION=3.12.2
+ARG PIP_VERSION=24.0.0
 ARG COLLECTD_VERSION=5.8.0-sfx0
 ARG COLLECTD_COMMIT=4d3327b14cf4359029613baf4f90c4952702105e
 ARG DOCKER_REPO=docker.io
@@ -265,9 +265,9 @@ RUN DISABLE_XENCPU=""; if [ "$ARCH" = "ppc64le" ]; then DISABLE_XENCPU="--disabl
         --disable-silent-rules \
         --disable-static \
         --with-java=${JAVA_HOME} \
-        LIBPYTHON_LDFLAGS="$(python3.11-config --ldflags) -lpython3.11" \
-        LIBPYTHON_CPPFLAGS="$(python3.11-config --includes)/cpython" \
-        LIBPYTHON_LIBS="$(python3.11-config --libs) -lpython3.11"
+        LIBPYTHON_LDFLAGS="$(python3.12-config --ldflags) -lpython3.12" \
+        LIBPYTHON_CPPFLAGS="$(python3.12-config --includes)/cpython" \
+        LIBPYTHON_LIBS="$(python3.12-config --libs) -lpython3.12"
 
 # Compile all of collectd first, including plugins
 RUN make -j`nproc` &&\
@@ -293,12 +293,11 @@ COPY scripts/get-collectd-plugins.py /opt/scripts/
 COPY scripts/requirements.txt /opt/
 COPY collectd-plugins.yaml /opt/
 
+RUN /usr/local/bin/python3 -m pip install -r /opt/requirements.txt
+
 # workaround for https://github.com/yaml/pyyaml/issues/724
-RUN /usr/local/bin/python3 -m pip install 'wheel==0.40.0'
 RUN /usr/local/bin/python3 -m pip install 'Cython<3.0' 'PyYaml~=5.0' --no-build-isolation
 
-RUN /usr/local/bin/python3 -m pip install -r /opt/requirements.txt
-
 RUN mkdir -p /opt/collectd-python &&\
     /usr/local/bin/python3 -u /opt/scripts/get-collectd-plugins.py /opt/collectd-python
 
@@ -317,15 +316,15 @@ RUN /usr/local/bin/python3 -m pip list
 # Remove pip to avoid usage in python monitor and in exec'd container
 RUN /usr/local/bin/python3 -m pip uninstall pip -y
 # Delete all bundled wheels
-RUN find /usr/local/lib/python3.11 -name "*.whl" -delete
+RUN find /usr/local/lib/python3.12 -name "*.whl" -delete
 
 # Delete all compiled python to save space
-RUN find /usr/local/lib/python3.11 -name "*.pyc" -o -name "*.pyo" | xargs rm
+RUN find /usr/local/lib/python3.12 -name "*.pyc" -o -name "*.pyo" | xargs rm
 # We don't support compiling extension modules so don't need this directory
-RUN rm -rf /usr/local/lib/python3.11/config-*-linux-gnu
+RUN rm -rf /usr/local/lib/python3.12/config-*-linux-gnu
 
-RUN find /usr/local/lib/python3.11 -type d -name __pycache__ | xargs rm -rf {} \;
-RUN find /usr/local/lib/python3.11 -wholename "*test*.key" -delete -or -wholename "*test*.pem" -delete
+RUN find /usr/local/lib/python3.12 -type d -name __pycache__ | xargs rm -rf {} \;
+RUN find /usr/local/lib/python3.12 -wholename "*test*.key" -delete -or -wholename "*test*.pem" -delete
 
 
 ######## Extra packages that don't make sense to pull down in any other stage ########
@@ -378,9 +377,9 @@ RUN mkdir -p /opt/root/bin &&\
 COPY --from=collectd /usr/local/bin/patchelf /usr/bin/
 
 # Gather Python dependencies
-COPY --from=python-plugins /usr/local/lib/python3.11 /opt/root/lib/python3.11
-COPY --from=python-plugins /usr/local/lib/libpython3.11.so.1.0 /opt/root/lib
-COPY --from=python-plugins /usr/local/bin/python3.11 /opt/root/bin/python
+COPY --from=python-plugins /usr/local/lib/python3.12 /opt/root/lib/python3.12
+COPY --from=python-plugins /usr/local/lib/libpython3.12.so.1.0 /opt/root/lib
+COPY --from=python-plugins /usr/local/bin/python3.12 /opt/root/bin/python
 
 # Gather compiled collectd plugin libraries
 COPY --from=collectd /usr/sbin/collectd /opt/root/bin/collectd
diff --git a/internal/signalfx-agent/bundle/scripts/requirements.txt b/internal/signalfx-agent/bundle/scripts/requirements.txt
index 0d0db9fcb9..a504017e83 100644
--- a/internal/signalfx-agent/bundle/scripts/requirements.txt
+++ b/internal/signalfx-agent/bundle/scripts/requirements.txt
@@ -1,4 +1,4 @@
-PyYAML~=5.0
 WMI==1.5.1; sys_platform == "win32"
 dbus-python==1.3.2; sys_platform == "linux"
-setuptools==69.2.0
+setuptools==69.0.3
+wheel==0.41.2
diff --git a/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1 b/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1
index 521c8daaaf..2f0a88df22 100644
--- a/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1
+++ b/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1
@@ -18,8 +18,8 @@ $repoDir = "$scriptDir\..\..\..\..\.."
 . $scriptDir\common.ps1
 
 $BUILD_DIR="$repoDir\build"
-$PYTHON_VERSION="3.11.8"
-$PIP_VERSION="21.0.1"
+$PYTHON_VERSION="3.12.2"
+$PIP_VERSION="24.0.0"
 $NUGET_URL="https://aka.ms/nugetclidl"
 $NUGET_EXE="nuget.exe"