diff --git a/cmake/dependencies.cmake b/cmake/dependencies.cmake
index 20c6d2ed28a..e2f941fcd99 100644
--- a/cmake/dependencies.cmake
+++ b/cmake/dependencies.cmake
@@ -28,12 +28,12 @@ if(COMMAND get_linux_name)
 endif()
 
 if(CMAKE_CROSSCOMPILING AND CMAKE_HOST_SYSTEM_NAME MATCHES Linux AND CMAKE_HOST_SYSTEM_PROCESSOR MATCHES "amd64.*|x86_64.*|AMD64.*")
-    set(protoc_version "3.9.2")
+    set(protoc_version "3.18.2")
 
     RESOLVE_DEPENDENCY(SYSTEM_PROTOC_ROOT
         ARCHIVE_LIN "protoc-${protoc_version}-linux-x86_64.tar.gz"
         TARGET_PATH "${TEMP}/protoc-${protoc_version}-linux-x86_64"
-        SHA256 "1d6da1d97d0cbfcd333558afe24533eb3cb48dc1e0ab5e971aa1e50ede8bcf45"
+        SHA256 "42fde2b6044c1f74c7e86d4e03b43aac87128ddf57ac6ed8c4eab7a1e21bbf21"
     )
     debug_message(STATUS "host protoc-${protoc_version} root path = " ${SYSTEM_PROTOC_ROOT})
 
diff --git a/thirdparty/CMakeLists.txt b/thirdparty/CMakeLists.txt
index 65ef2238c0a..2d61c5fd7a2 100644
--- a/thirdparty/CMakeLists.txt
+++ b/thirdparty/CMakeLists.txt
@@ -88,7 +88,7 @@ if(ENABLE_OV_PADDLE_FRONTEND OR ENABLE_OV_ONNX_FRONTEND OR ENABLE_OV_TF_FRONTEND
         if(VERBOSE_BUILD)
             set(Protobuf_DEBUG ON)
         endif()
-        find_package(Protobuf 3.9.0 REQUIRED)
+        find_package(Protobuf 3.18.2 REQUIRED)
         set(Protobuf_LITE_LIBRARIES protobuf::libprotobuf-lite)
         set(Protobuf_LIBRARIES protobuf::libprotobuf)
         set(SYSTEM_PROTOC protobuf::protoc)
diff --git a/thirdparty/protobuf/CMakeLists.txt b/thirdparty/protobuf/CMakeLists.txt
index f26c0a0d28f..f15c3cc3495 100644
--- a/thirdparty/protobuf/CMakeLists.txt
+++ b/thirdparty/protobuf/CMakeLists.txt
@@ -16,6 +16,11 @@ if(OV_COMPILER_IS_CLANG)
     set(CMAKE_CXX_FLAGS "${CMAKE_CXX_FLAGS} -Wno-inconsistent-missing-override")
 endif()
 
+if(CMAKE_CXX_COMPILER_ID STREQUAL "MSVC")
+    # protobuf\src\google\protobuf\descriptor.cc(822) : error C4703: potentially uninitialized local pointer variable 'to_use' used
+    add_definitions("/wd4703")
+endif()
+
 set(protobuf_VERBOSE ON)
 set(protobuf_BUILD_TESTS OFF CACHE BOOL "Build tests" FORCE)
 set(protobuf_BUILD_SHARED_LIBS OFF CACHE BOOL "Build shared libs" FORCE)
diff --git a/thirdparty/protobuf/protobuf b/thirdparty/protobuf/protobuf
index 52b2447247f..6c6b0778b70 160000
--- a/thirdparty/protobuf/protobuf
+++ b/thirdparty/protobuf/protobuf
@@ -1 +1 @@
-Subproject commit 52b2447247f535663ac1c292e088b4b27d2910ef
+Subproject commit 6c6b0778b70f35f93c2f0dee30e5d12ad2a83eea