diff --git a/NOTICE.txt b/NOTICE.txt
index f83a353885c..8bdadfec79f 100644
--- a/NOTICE.txt
+++ b/NOTICE.txt
@@ -20089,11 +20089,11 @@ limitations under the License.
 
 --------------------------------------------------------------------------------
 Dependency : github.com/elastic/opentelemetry-lib
-Version: v0.3.0
+Version: v0.4.0
 Licence type (autodetected): Apache-2.0
 --------------------------------------------------------------------------------
 
-Contents of probable licence file $GOMODCACHE/github.com/elastic/opentelemetry-lib@v0.3.0/LICENSE:
+Contents of probable licence file $GOMODCACHE/github.com/elastic/opentelemetry-lib@v0.4.0/LICENSE:
 
                                  Apache License
                            Version 2.0, January 2004
diff --git a/go.mod b/go.mod
index 711cfd62e26..a2137de4d2f 100644
--- a/go.mod
+++ b/go.mod
@@ -148,7 +148,7 @@ require (
 	github.com/elastic/go-structform v0.0.10 // indirect
 	github.com/elastic/go-windows v1.0.1 // indirect
 	github.com/elastic/gosigar v0.14.3 // indirect
-	github.com/elastic/opentelemetry-lib v0.3.0 // indirect
+	github.com/elastic/opentelemetry-lib v0.4.0 // indirect
 	github.com/elastic/pkcs8 v1.0.0 // indirect
 	github.com/emicklei/go-restful/v3 v3.11.0 // indirect
 	github.com/evanphx/json-patch v5.6.0+incompatible // indirect
diff --git a/go.sum b/go.sum
index 8b5fb7d19b5..007b18b8011 100644
--- a/go.sum
+++ b/go.sum
@@ -853,8 +853,8 @@ github.com/elastic/mock-es v0.0.0-20240605193845-b5546a703d6f h1:qo0Nn9G+p7HbG+C
 github.com/elastic/mock-es v0.0.0-20240605193845-b5546a703d6f/go.mod h1:mVdKBYYwt30xRFjCegbcURHh+3LWOCkQM33fgWbUiRI=
 github.com/elastic/opentelemetry-collector-components/processor/elasticinframetricsprocessor v0.2.0 h1:hNc32QRR4oSpDWdB0CotjS57i0Cy22N4+TcUCCYP+Vs=
 github.com/elastic/opentelemetry-collector-components/processor/elasticinframetricsprocessor v0.2.0/go.mod h1:5VmwVI4VxoS5mM16eeculPuWbjNdnCqDGvWfipi6yXs=
-github.com/elastic/opentelemetry-lib v0.3.0 h1:5wmnCqEajieIae71vh4oET0P0LX6Tb+pY09D9dDv1wA=
-github.com/elastic/opentelemetry-lib v0.3.0/go.mod h1:/kKvHbJLVo/NcKMPHI8/RZKL64fushmnRUzn+arQpjg=
+github.com/elastic/opentelemetry-lib v0.4.0 h1:e+N00oKXnv8EIXDVjHXPjkxox98JVm1b4kHVMp1NcTA=
+github.com/elastic/opentelemetry-lib v0.4.0/go.mod h1:/kKvHbJLVo/NcKMPHI8/RZKL64fushmnRUzn+arQpjg=
 github.com/elastic/package-spec/v2 v2.6.0/go.mod h1:ks9/FaVOS+vCrGRQcDvXAd2FlmB84mrLikbRiO6ACuk=
 github.com/elastic/pkcs8 v1.0.0 h1:HhitlUKxhN288kcNcYkjW6/ouvuwJWd9ioxpjnD9jVA=
 github.com/elastic/pkcs8 v1.0.0/go.mod h1:ipsZToJfq1MxclVTwpG7U/bgeDtf+0HkUiOxebk95+0=