diff --git a/docker/prometheus/prometheus-elasticsearch-exporter/Dockerfile.j2 b/docker/prometheus/prometheus-elasticsearch-exporter/Dockerfile.j2
index 2ed2b7482b..ebef61ff14 100644
--- a/docker/prometheus/prometheus-elasticsearch-exporter/Dockerfile.j2
+++ b/docker/prometheus/prometheus-elasticsearch-exporter/Dockerfile.j2
@@ -6,7 +6,7 @@ LABEL maintainer="{{ maintainer }}" name="{{ image_name }}" build-date="{{ build
 {% block prometheus_elasticsearch_exporter_header %}{% endblock %}
 
 {% block prometheus_elasticsearch_exporter_repository_version %}
-ENV elasticsearch_exporter_version=1.1.0
+ENV elasticsearch_exporter_version=1.2.1
 {% endblock %}
 
 {% block prometheus_elasticsearch_exporter_install %}
diff --git a/releasenotes/notes/bug-1935015-385d6f20e32311eb.yml b/releasenotes/notes/bug-1935015-385d6f20e32311eb.yml
new file mode 100644
index 0000000000..b78a9f1731
--- /dev/null
+++ b/releasenotes/notes/bug-1935015-385d6f20e32311eb.yml
@@ -0,0 +1,10 @@
+---
+fixes:
+  - |
+    Upgrade the prometheus elasticsearch exporter from version 1.1.0 to 1.2.1
+    in order to fix a few metrics bugs such as:
+      - [BUGFIX] Fixed elasticsearch 7.13 node stats metrics.
+      - [BUGFIX] Fixed snapshot stats metrics for some snapshot
+        repository types.
+      - [BUGFIX] json parse error if the snapshot json contains failures.
+      - [BUGFIX] Remove credentials from URL in clusterinfo metrics.