diff --git a/configure.ac b/configure.ac
index 7a8be3b6faea..a063bd38e4ef 100644
--- a/configure.ac
+++ b/configure.ac
@@ -2152,6 +2152,13 @@ fi
     [])
     AC_MSG_RESULT(yes)
 
+    # Set the version of the "time" dependency based on what version
+    # of Rust we have.
+    AS_VERSION_COMPARE([$rustc_version], [1.67.0],
+        [AC_SUBST([RUST_TIME_VERSION], [=0.3.20])],
+        [AC_SUBST([RUST_TIME_VERSION], [=0.3.35])],
+        [AC_SUBST([RUST_TIME_VERSION], [=0.3.35])])
+
     RUST_FEATURES=""
 
     rust_vendor_comment="# "
diff --git a/rust/Cargo.toml.in b/rust/Cargo.toml.in
index f750765d13c3..f865318495f3 100644
--- a/rust/Cargo.toml.in
+++ b/rust/Cargo.toml.in
@@ -62,8 +62,11 @@ base64 = "~0.13.0"
 bendy = { version = "~0.3.3", default-features = false }
 asn1-rs = { version = "~0.6.1" }
 
-# last version to work with MSRV 1.63
-time = "=0.3.20"
+# The version of the time crate will be set by configure based on the
+# version of rustc.
+# - 0.3.20 for rust older than 1.67.
+# - something newer for newer rust
+time = "@RUST_TIME_VERSION@"
 
 suricata-derive = { path = "./derive", version = "@PACKAGE_VERSION@" }