diff --git a/Dockerfile b/Dockerfile
index c0753853..10bb82a4 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -3,7 +3,7 @@ ARG GO_VERSION=1.19
 ARG XX_VERSION=1.1.2
 
 ARG LIBGIT2_IMG=ghcr.io/fluxcd/golang-with-libgit2-only
-ARG LIBGIT2_TAG=v0.2.0
+ARG LIBGIT2_TAG=v0.3.0
 
 FROM ${LIBGIT2_IMG}:${LIBGIT2_TAG} AS libgit2-libs
 
@@ -64,11 +64,11 @@ ENV CGO_ENABLED=1
 
 # Instead of using xx-go, (cross) compile with vanilla go leveraging musl tool chain.
 RUN export PKG_CONFIG_PATH="/usr/local/$(xx-info triple)/lib/pkgconfig" && \
-    export CGO_LDFLAGS="$(pkg-config --static --libs --cflags libgit2) -static -fuse-ld=lld" && \
-    xx-go build \
-        -ldflags "-s -w" \
-        -tags 'netgo,osusergo,static_build' \
-        -o /source-controller -trimpath main.go;
+  export CGO_LDFLAGS="$(pkg-config --static --libs --cflags libgit2) -static -fuse-ld=lld" && \
+  xx-go build \
+  -ldflags "-s -w" \
+  -tags 'netgo,osusergo,static_build' \
+  -o /source-controller -trimpath main.go;
 
 # Ensure that the binary was cross-compiled correctly to the target platform.
 RUN xx-verify --static /source-controller
diff --git a/Makefile b/Makefile
index a008d0e9..4207a121 100644
--- a/Makefile
+++ b/Makefile
@@ -4,7 +4,7 @@ TAG ?= latest
 
 # Base image used to build the Go binary
 LIBGIT2_IMG ?= ghcr.io/fluxcd/golang-with-libgit2-only
-LIBGIT2_TAG ?= v0.2.0
+LIBGIT2_TAG ?= v0.3.0
 
 # Allows for defining additional Go test args, e.g. '-tags integration'.
 GO_TEST_ARGS ?= -race
diff --git a/tests/fuzz/oss_fuzz_build.sh b/tests/fuzz/oss_fuzz_build.sh
index 2284cf57..beb70f1c 100755
--- a/tests/fuzz/oss_fuzz_build.sh
+++ b/tests/fuzz/oss_fuzz_build.sh
@@ -16,7 +16,7 @@
 
 set -euxo pipefail
 
-LIBGIT2_TAG="${LIBGIT2_TAG:-v0.2.0}"
+LIBGIT2_TAG="${LIBGIT2_TAG:-v0.3.0}"
 GOPATH="${GOPATH:-/root/go}"
 GO_SRC="${GOPATH}/src"
 PROJECT_PATH="github.com/fluxcd/source-controller"