diff --git a/config/overlays/odh/params.env b/config/overlays/odh/params.env
index a349ff8fb63..5e0e28503ad 100644
--- a/config/overlays/odh/params.env
+++ b/config/overlays/odh/params.env
@@ -2,4 +2,4 @@ kserve-controller=quay.io/opendatahub/kserve-controller:v0.14-latest
 kserve-agent=quay.io/opendatahub/kserve-agent:v0.14-latest
 kserve-router=quay.io/opendatahub/kserve-router:v0.14-latest
 kserve-storage-initializer=quay.io/opendatahub/kserve-storage-initializer:v0.14-latest
-oauth-proxy=registry.redhat.io/openshift4/ose-oauth-proxy@sha256:234af927030921ab8f7333f61f967b4b4dee37a1b3cf85689e9e63240dd62800
+oauth-proxy=registry.redhat.io/openshift4/ose-oauth-proxy@sha256:8507daed246d4d367704f7d7193233724acf1072572e1226ca063c066b858ecf
diff --git a/pkg/constants/constants.go b/pkg/constants/constants.go
index b66debabe43..5dc45adde2d 100644
--- a/pkg/constants/constants.go
+++ b/pkg/constants/constants.go
@@ -460,7 +460,7 @@ const (
 	OauthProxyResourceCPULimit      = "200m"
 	OauthProxyResourceMemoryRequest = "64Mi"
 	OauthProxyResourceCPURequest    = "100m"
-	OauthProxyImage                 = "registry.redhat.io/openshift4/ose-oauth-proxy@sha256:234af927030921ab8f7333f61f967b4b4dee37a1b3cf85689e9e63240dd62800"
+	OauthProxyImage                 = "registry.redhat.io/openshift4/ose-oauth-proxy@sha256:8507daed246d4d367704f7d7193233724acf1072572e1226ca063c066b858ecf"
 	DefaultServiceAccount           = "default"
 )
 
diff --git a/pkg/controller/v1beta1/inferenceservice/rawkube_controller_test.go b/pkg/controller/v1beta1/inferenceservice/rawkube_controller_test.go
index 13e04bdd2e6..be33fcdba51 100644
--- a/pkg/controller/v1beta1/inferenceservice/rawkube_controller_test.go
+++ b/pkg/controller/v1beta1/inferenceservice/rawkube_controller_test.go
@@ -2252,7 +2252,7 @@ var _ = Describe("v1beta1 inference service controller", func() {
 	})
 	Context("When creating an inferenceservice with raw kube predictor and ODH auth enabled", func() {
 		configs := map[string]string{
-			"oauthProxy":         `{"image": "registry.redhat.io/openshift4/ose-oauth-proxy@sha256:234af927030921ab8f7333f61f967b4b4dee37a1b3cf85689e9e63240dd62800", "memoryRequest": "64Mi", "memoryLimit": "128Mi", "cpuRequest": "100m", "cpuLimit": "200m"}`,
+			"oauthProxy":         `{"image": "registry.redhat.io/openshift4/ose-oauth-proxy@sha256:8507daed246d4d367704f7d7193233724acf1072572e1226ca063c066b858ecf", "memoryRequest": "64Mi", "memoryLimit": "128Mi", "cpuRequest": "100m", "cpuLimit": "200m"}`,
 			"ingress":            `{"ingressGateway": "knative-serving/knative-ingress-gateway", "ingressService": "test-destination", "localGateway": "knative-serving/knative-local-gateway", "localGatewayService": "knative-local-gateway.istio-system.svc.cluster.local"}`,
 			"storageInitializer": `{"image": "kserve/storage-initializer:latest", "memoryRequest": "100Mi", "memoryLimit": "1Gi", "cpuRequest": "100m", "cpuLimit": "1", "CaBundleConfigMapName": "", "caBundleVolumeMountPath": "/etc/ssl/custom-certs", "enableDirectPvcVolumeMount": false}`,
 		}