diff --git a/graphics/libavif/Makefile b/graphics/libavif/Makefile
index 31ef23b6d3b7..017ba6065bf8 100644
--- a/graphics/libavif/Makefile
+++ b/graphics/libavif/Makefile
@@ -1,62 +1,62 @@
 PORTNAME=	libavif
 DISTVERSIONPREFIX=	v
-DISTVERSION=	1.0.2
+DISTVERSION=	1.0.3
 CATEGORIES=	graphics
 
 MAINTAINER=	jbeich@FreeBSD.org
 COMMENT=	Library for encoding and decoding .avif files
 WWW=		https://github.com/AOMediaCodec/libavif
 
 LICENSE=	BSD2CLAUSE
 LICENSE_FILE=	${WRKSRC}/LICENSE
 
 LIB_DEPENDS=	libpng.so:graphics/png
 TEST_DEPENDS=	googletest>0:devel/googletest \
 		bash:shells/bash
 
 USES=		cmake:testing compiler:c11 cpe jpeg pkgconfig
 CPE_VENDOR=	aomedia
 USE_GITHUB=	yes
 USE_LDCONFIG=	yes
 GH_ACCOUNT=	AOMediaCodec
 CMAKE_ON=	AVIF_BUILD_APPS
 CMAKE_TESTING_ON=	AVIF_BUILD_TESTS
 
 OPTIONS_DEFINE=	AOM DAV1D GAV1 LIBSHARPYUV LIBYUV PIXBUF RAV1E SVTAV1
 OPTIONS_DEFAULT=AOM DAV1D PIXBUF
 OPTIONS_SUB=	yes
 
 AOM_DESC=		AV1 encoding/decoding via libaom
 AOM_LIB_DEPENDS=	libaom.so:multimedia/aom
 AOM_CMAKE_BOOL=		AVIF_CODEC_AOM
 
 DAV1D_DESC=		AV1 decoding via libdav1d
 DAV1D_LIB_DEPENDS=	libdav1d.so:multimedia/dav1d
 DAV1D_CMAKE_BOOL=	AVIF_CODEC_DAV1D
 
 GAV1_DESC=		AV1 decoding via libgav1
 GAV1_LIB_DEPENDS=	libgav1.so:multimedia/libgav1
 GAV1_CMAKE_BOOL=	AVIF_CODEC_LIBGAV1
 
 LIBSHARPYUV_DESC=		Colorspace conversion via libsharpyuv
 LIBSHARPYUV_LIB_DEPENDS=	libsharpyuv.so:graphics/webp
 LIBSHARPYUV_CMAKE_BOOL_OFF=	CMAKE_DISABLE_FIND_PACKAGE_libsharpyuv
 
 LIBYUV_DESC=		Colorspace conversion via libyuv
 LIBYUV_BUILD_DEPENDS=	libyuv>=0.0.1774:graphics/libyuv
 LIBYUV_LIB_DEPENDS=	libyuv.so:graphics/libyuv
 LIBYUV_CMAKE_BOOL_OFF=	CMAKE_DISABLE_FIND_PACKAGE_libyuv
 
 PIXBUF_USES=		gnome
 PIXBUF_USE=		GNOME=gdkpixbuf2
 PIXBUF_CMAKE_BOOL=	AVIF_BUILD_GDK_PIXBUF
 
 RAV1E_DESC=		AV1 encoding via librav1e
 RAV1E_LIB_DEPENDS=	librav1e.so:multimedia/librav1e
 RAV1E_CMAKE_BOOL=	AVIF_CODEC_RAV1E
 
 SVTAV1_DESC=		AV1 encoding via SVT-AV1
 SVTAV1_LIB_DEPENDS=	libSvtAv1Enc.so:multimedia/svt-av1
 SVTAV1_CMAKE_BOOL=	AVIF_CODEC_SVT
 
 .include <bsd.port.mk>
diff --git a/graphics/libavif/distinfo b/graphics/libavif/distinfo
index 4d91b9ee26af..1008fa4ef5d7 100644
--- a/graphics/libavif/distinfo
+++ b/graphics/libavif/distinfo
@@ -1,3 +1,3 @@
-TIMESTAMP = 1700174288
-SHA256 (AOMediaCodec-libavif-v1.0.2_GH0.tar.gz) = de8bf79488c5b523b77358df8b85ae69c3078e6b3f1636fc1f313f952269ad20
-SIZE (AOMediaCodec-libavif-v1.0.2_GH0.tar.gz) = 10576546
+TIMESTAMP = 1701717070
+SHA256 (AOMediaCodec-libavif-v1.0.3_GH0.tar.gz) = 35e3cb3cd7158209dcc31d3bf222036de5b9597e368a90e18449ecc89bb86a19
+SIZE (AOMediaCodec-libavif-v1.0.3_GH0.tar.gz) = 10573846
diff --git a/graphics/libavif/pkg-plist b/graphics/libavif/pkg-plist
index 7136ccf26b66..ad2028c30da4 100644
--- a/graphics/libavif/pkg-plist
+++ b/graphics/libavif/pkg-plist
@@ -1,12 +1,12 @@
 bin/avifdec
 bin/avifenc
 include/avif/avif.h
 lib/cmake/libavif/libavif-config-%%CMAKE_BUILD_TYPE%%.cmake
 lib/cmake/libavif/libavif-config-version.cmake
 lib/cmake/libavif/libavif-config.cmake
 %%PIXBUF%%lib/gdk-pixbuf-2.0/%%GTK2_VERSION%%/loaders/libpixbufloader-avif.so
 lib/libavif.so
 lib/libavif.so.16
-lib/libavif.so.16.0.2
+lib/libavif.so.16.0.3
 libdata/pkgconfig/libavif.pc
 %%PIXBUF%%share/thumbnailers/avif.thumbnailer