diff --git a/cmake/LYPython.cmake b/cmake/LYPython.cmake
index a8095fbc95..b83520d2ff 100644
--- a/cmake/LYPython.cmake
+++ b/cmake/LYPython.cmake
@@ -20,20 +20,20 @@ include(cmake/LySet.cmake)
 
 # CMAKE_HOST_SYSTEM_NAME is  "Windows", "Darwin", or "Linux" in our cases..
 if (${CMAKE_HOST_SYSTEM_NAME} STREQUAL "Linux" )
-    ly_set(LY_PYTHON_VERSION 3.7.10)
+    ly_set(LY_PYTHON_VERSION 3.7.12)
     ly_set(LY_PYTHON_VERSION_MAJOR_MINOR 3.7)
-    ly_set(LY_PYTHON_PACKAGE_NAME python-3.7.10-rev2-linux)
-    ly_set(LY_PYTHON_PACKAGE_HASH 6b9cf455e6190ec38836194f4454bb9db6bfc6890b4baff185cc5520aa822f05)
+    ly_set(LY_PYTHON_PACKAGE_NAME python-3.7.12-rev1-linux)
+    ly_set(LY_PYTHON_PACKAGE_HASH 8c902f1550600af9a12983b73e46a7d0e5ed04e761ce88475e1dc661850ff42a)
 elseif  (${CMAKE_HOST_SYSTEM_NAME} STREQUAL "Darwin" )
-    ly_set(LY_PYTHON_VERSION 3.7.10)
+    ly_set(LY_PYTHON_VERSION 3.7.12)
     ly_set(LY_PYTHON_VERSION_MAJOR_MINOR 3.7)
-    ly_set(LY_PYTHON_PACKAGE_NAME python-3.7.10-rev1-darwin)
-    ly_set(LY_PYTHON_PACKAGE_HASH 3f65801894e4e44b5faa84dd85ef80ecd772dcf728cdd2d668a6e75978a32695)
+    ly_set(LY_PYTHON_PACKAGE_NAME python-3.7.12-rev1-darwin)
+    ly_set(LY_PYTHON_PACKAGE_HASH fb8292c0ec52cb66676eb14ce7989523ba4b973690319573e5eb78cf221dae4f)
 elseif  (${CMAKE_HOST_SYSTEM_NAME} STREQUAL "Windows" )
-    ly_set(LY_PYTHON_VERSION 3.7.10)
+    ly_set(LY_PYTHON_VERSION 3.7.12)
     ly_set(LY_PYTHON_VERSION_MAJOR_MINOR 3.7)
-    ly_set(LY_PYTHON_PACKAGE_NAME python-3.7.10-rev2-windows)
-    ly_set(LY_PYTHON_PACKAGE_HASH 06d97488a2dbabe832ecfa832a42d3e8a7163ba95e975f032727331b0f49d280)
+    ly_set(LY_PYTHON_PACKAGE_NAME python-3.7.12-rev1-windows)
+    ly_set(LY_PYTHON_PACKAGE_HASH bda55564b2b2232d3d72dec8b0cfd6ede551515475dbbdf371e054e4ed5a0e60)
 endif()
 
 # settings and globals
diff --git a/python/python.cmd b/python/python.cmd
index 28138fd699..f607fac154 100644
--- a/python/python.cmd
+++ b/python/python.cmd
@@ -17,7 +17,7 @@ SETLOCAL
 SET CMD_DIR=%~dp0
 SET CMD_DIR=%CMD_DIR:~0,-1%
 
-SET PYTHONHOME=%CMD_DIR%\runtime\python-3.7.10-rev2-windows\python
+SET PYTHONHOME=%CMD_DIR%\runtime\python-3.7.12-rev1-windows\python
 
 IF EXIST "%PYTHONHOME%" GOTO PYTHONHOME_EXISTS
 
diff --git a/python/python.sh b/python/python.sh
index 642878485b..dfb79c03af 100755
--- a/python/python.sh
+++ b/python/python.sh
@@ -17,11 +17,11 @@ done
 DIR="$( cd -P "$( dirname "$SOURCE" )" && pwd )"
 
 if [[ "$OSTYPE" == *"darwin"* ]]; then
-    PYTHON=$DIR/runtime/python-3.7.10-rev1-darwin/Python.framework/Versions/3.7/bin/python3
+    PYTHON=$DIR/runtime/python-3.7.12-rev1-darwin/Python.framework/Versions/3.7/bin/python3
 elif [[ "$OSTYPE" == "msys" ]]; then
-    PYTHON=$DIR/runtime/python-3.7.10-rev2-windows/python/python.exe
+    PYTHON=$DIR/runtime/python-3.7.12-rev1-windows/python/python.exe
 else
-    PYTHON=$DIR/runtime/python-3.7.10-rev2-linux/python/bin/python
+    PYTHON=$DIR/runtime/python-3.7.12-rev1-linux/python/bin/python
 fi
 
 if [[ -e "$PYTHON" ]];