diff --git a/homeassistant/components/esphome/manifest.json b/homeassistant/components/esphome/manifest.json
index 01e04df6db8..9099af63ad9 100644
--- a/homeassistant/components/esphome/manifest.json
+++ b/homeassistant/components/esphome/manifest.json
@@ -17,7 +17,7 @@
   "mqtt": ["esphome/discover/#"],
   "quality_scale": "platinum",
   "requirements": [
-    "aioesphomeapi==34.1.0",
+    "aioesphomeapi==34.2.0",
     "esphome-dashboard-api==1.3.0",
     "bleak-esphome==2.16.0"
   ],
diff --git a/requirements_all.txt b/requirements_all.txt
index 11c2f3d3787..1b14f4b4b2d 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -247,7 +247,7 @@ aioelectricitymaps==0.4.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==34.1.0
+aioesphomeapi==34.2.0
 
 # homeassistant.components.flo
 aioflo==2021.11.0
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index eb03b87f5cc..06b78118f78 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -235,7 +235,7 @@ aioelectricitymaps==0.4.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==34.1.0
+aioesphomeapi==34.2.0
 
 # homeassistant.components.flo
 aioflo==2021.11.0