diff --git a/bindings/python/CHANGELOG.rst b/bindings/python/CHANGELOG.rst
index c99bc6102..7495e64cb 100644
--- a/bindings/python/CHANGELOG.rst
+++ b/bindings/python/CHANGELOG.rst
@@ -4,7 +4,7 @@ Changelog
 Changes in Version 1.19.0
 -------------------------
 
-- Bundle libmongocrypt 1.20.2 in release wheels.
+- Bundle libmongocrypt 1.20.3 in release wheels.
 - Renamed the ``text_opts`` parameter of ``ExplicitEncryptOpts`` and
   ``ExplicitEncrypter.encrypt`` to ``string_opts``, matching the "string"
   algorithm it configures. This is a breaking change.
diff --git a/bindings/python/sbom.json b/bindings/python/sbom.json
index be797eb39..38f70536e 100644
--- a/bindings/python/sbom.json
+++ b/bindings/python/sbom.json
@@ -1,31 +1,31 @@
 {
   "components": [
     {
-      "bom-ref": "pkg:github/mongodb/libmongocrypt@1.20.2",
+      "bom-ref": "pkg:github/mongodb/libmongocrypt@1.20.3",
       "externalReferences": [
         {
           "type": "distribution",
-          "url": "https://github.com/mongodb/libmongocrypt/archive/1.20.2.tar.gz"
+          "url": "https://github.com/mongodb/libmongocrypt/archive/1.20.3.tar.gz"
         },
         {
           "type": "website",
-          "url": "https://github.com/mongodb/libmongocrypt/tree/1.20.2"
+          "url": "https://github.com/mongodb/libmongocrypt/tree/1.20.3"
         }
       ],
       "group": "mongodb",
       "name": "libmongocrypt",
-      "purl": "pkg:github/mongodb/libmongocrypt@1.20.2",
+      "purl": "pkg:github/mongodb/libmongocrypt@1.20.3",
       "type": "library",
-      "version": "1.20.2"
+      "version": "1.20.3"
     }
   ],
   "dependencies": [
     {
-      "ref": "pkg:github/mongodb/libmongocrypt@1.20.2"
+      "ref": "pkg:github/mongodb/libmongocrypt@1.20.3"
     }
   ],
   "metadata": {
-    "timestamp": "2026-08-14T19:41:24.430909+00:00",
+    "timestamp": "2026-09-01T19:36:41.251137+00:00",
     "tools": [
       {
         "externalReferences": [
@@ -68,7 +68,7 @@
       }
     ]
   },
-  "serialNumber": "urn:uuid:fecaed8a-4f6b-41bf-87b1-977d29e6f44b",
+  "serialNumber": "urn:uuid:50e17ab8-6049-49b5-af28-3390a7aadc1e",
   "version": 1,
   "$schema": "http://cyclonedx.org/schema/bom-1.5.schema.json",
   "bomFormat": "CycloneDX",
diff --git a/bindings/python/scripts/libmongocrypt-version.txt b/bindings/python/scripts/libmongocrypt-version.txt
index 769e37e15..f5b00dc26 100644
--- a/bindings/python/scripts/libmongocrypt-version.txt
+++ b/bindings/python/scripts/libmongocrypt-version.txt
@@ -1 +1 @@
-1.20.2
+1.20.3