diff --git a/Cargo.lock b/Cargo.lock
index b4501b5d7512..1212c3c54885 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1469,8 +1469,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "93f2635620bf0b9d4576eb7bb9a38a55df78bd1205d26fa994b25911a69f212f"
 dependencies = [
  "bitcoin_hashes",
- "rand 0.7.3",
- "rand_core 0.5.1",
+ "rand 0.8.5",
+ "rand_core 0.6.4",
  "serde",
  "unicode-normalization",
 ]
@@ -5222,11 +5222,12 @@ dependencies = [
 
 [[package]]
 name = "fdlimit"
-version = "0.2.1"
+version = "0.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2c4c9e43643f5a3be4ca5b67d26b98031ff9db6806c3440ae32e02e3ceac3f1b"
+checksum = "e182f7dbc2ef73d9ef67351c5fbbea084729c48362d3ce9dd44c28e32e277fe5"
 dependencies = [
  "libc",
+ "thiserror",
 ]
 
 [[package]]
@@ -18968,9 +18969,9 @@ checksum = "222a222a5bfe1bba4a77b45ec488a741b3cb8872e5e499451fd7d0129c9c7c3d"
 
 [[package]]
 name = "thiserror"
-version = "1.0.48"
+version = "1.0.50"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9d6d7a740b8a666a7e828dd00da9c0dc290dff53154ea77ac109281de90589b7"
+checksum = "f9a7210f5c9a7156bb50aa36aed4c95afb51df0df00713949448cf9e97d382d2"
 dependencies = [
  "thiserror-impl",
 ]
@@ -18997,9 +18998,9 @@ dependencies = [
 
 [[package]]
 name = "thiserror-impl"
-version = "1.0.48"
+version = "1.0.50"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "49922ecae66cc8a249b77e68d1d0623c1b2c514f0060c27cdc68bd62a1219d35"
+checksum = "266b2e40bc00e5a6c09c3584011e08b06f123c00362c92b975ba9843aaaa14b8"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/substrate/client/cli/Cargo.toml b/substrate/client/cli/Cargo.toml
index 5a98b43f43c2..4fd402d044fa 100644
--- a/substrate/client/cli/Cargo.toml
+++ b/substrate/client/cli/Cargo.toml
@@ -16,7 +16,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 array-bytes = "6.1"
 chrono = "0.4.27"
 clap = { version = "4.4.6", features = ["derive", "string", "wrap_help"] }
-fdlimit = "0.2.1"
+fdlimit = "0.3.0"
 futures = "0.3.21"
 itertools = "0.10.3"
 libp2p-identity = { version = "0.1.3", features = ["peerid", "ed25519"]}
diff --git a/substrate/client/cli/src/config.rs b/substrate/client/cli/src/config.rs
index 4f14569174b4..b842df5a690a 100644
--- a/substrate/client/cli/src/config.rs
+++ b/substrate/client/cli/src/config.rs
@@ -605,29 +605,19 @@ pub trait CliConfiguration<DCV: DefaultConfigurationValues = ()>: Sized {
 
 		logger.init()?;
 
-		match std::panic::catch_unwind(fdlimit::raise_fd_limit) {
-			Ok(Some(new_limit)) =>
-				if new_limit < RECOMMENDED_OPEN_FILE_DESCRIPTOR_LIMIT {
+		match fdlimit::raise_fd_limit() {
+			Ok(fdlimit::Outcome::LimitRaised { to, .. }) =>
+				if to < RECOMMENDED_OPEN_FILE_DESCRIPTOR_LIMIT {
 					warn!(
 						"Low open file descriptor limit configured for the process. \
 						Current value: {:?}, recommended value: {:?}.",
-						new_limit, RECOMMENDED_OPEN_FILE_DESCRIPTOR_LIMIT,
+						to, RECOMMENDED_OPEN_FILE_DESCRIPTOR_LIMIT,
 					);
 				},
-			Ok(None) => {
+			Ok(fdlimit::Outcome::Unsupported) => {
 				// Unsupported platform (non-Linux)
 			},
 			Err(error) => {
-				let error = if let Some(error) = error.downcast_ref::<&str>() {
-					*error
-				} else if let Some(error) = error.downcast_ref::<String>() {
-					error
-				} else {
-					unreachable!(
-						"Should be unreachable as `fdlimit` uses panic macro, \
-						which should return either `&str` or `String`"
-					)
-				};
 				warn!(
 					"Failed to configure file descriptor limit for the process: \
 					{}, recommended value: {:?}.",
diff --git a/substrate/client/service/test/Cargo.toml b/substrate/client/service/test/Cargo.toml
index 670312e4161a..c6091f97d637 100644
--- a/substrate/client/service/test/Cargo.toml
+++ b/substrate/client/service/test/Cargo.toml
@@ -14,7 +14,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 [dependencies]
 async-channel = "1.8.0"
 array-bytes = "6.1"
-fdlimit = "0.2.1"
+fdlimit = "0.3.0"
 futures = "0.3.21"
 log = "0.4.17"
 parity-scale-codec = "3.6.1"
diff --git a/substrate/client/service/test/src/lib.rs b/substrate/client/service/test/src/lib.rs
index 9700c7643c48..456df73459a3 100644
--- a/substrate/client/service/test/src/lib.rs
+++ b/substrate/client/service/test/src/lib.rs
@@ -285,7 +285,7 @@ where
 		base_port: u16,
 	) -> TestNet<G, E, F, U> {
 		sp_tracing::try_init_simple();
-		fdlimit::raise_fd_limit();
+		fdlimit::raise_fd_limit().unwrap();
 		let runtime = Runtime::new().expect("Error creating tokio runtime");
 		let mut net = TestNet {
 			runtime,