diff --git a/cpp/cmake_modules/ThirdpartyToolchain.cmake b/cpp/cmake_modules/ThirdpartyToolchain.cmake
index 28d9b350b3c..03e4a73b7ba 100644
--- a/cpp/cmake_modules/ThirdpartyToolchain.cmake
+++ b/cpp/cmake_modules/ThirdpartyToolchain.cmake
@@ -622,10 +622,8 @@ endif()
 if(DEFINED ENV{ARROW_CARES_URL})
   set(CARES_SOURCE_URL "$ENV{ARROW_CARES_URL}")
 else()
-  string(REPLACE "." "_" ARROW_CARES_BUILD_VERSION_UNDERSCORES
-                 ${ARROW_CARES_BUILD_VERSION})
   set_urls(CARES_SOURCE_URL
-           "https://github.com/c-ares/c-ares/releases/download/cares-${ARROW_CARES_BUILD_VERSION_UNDERSCORES}/c-ares-${ARROW_CARES_BUILD_VERSION}.tar.gz"
+           "https://github.com/c-ares/c-ares/releases/download/v${ARROW_CARES_BUILD_VERSION}/c-ares-${ARROW_CARES_BUILD_VERSION}.tar.gz"
            "${THIRDPARTY_MIRROR_URL}/cares-${ARROW_CARES_BUILD_VERSION}.tar.gz")
 endif()
 
diff --git a/cpp/thirdparty/versions.txt b/cpp/thirdparty/versions.txt
index 3af4a10a50a..2895247e9fc 100644
--- a/cpp/thirdparty/versions.txt
+++ b/cpp/thirdparty/versions.txt
@@ -62,8 +62,8 @@ ARROW_BROTLI_BUILD_VERSION=v1.0.9
 ARROW_BROTLI_BUILD_SHA256_CHECKSUM=f9e8d81d0405ba66d181529af42a3354f838c939095ff99930da6aa9cdf6fe46
 ARROW_BZIP2_BUILD_VERSION=1.0.8
 ARROW_BZIP2_BUILD_SHA256_CHECKSUM=ab5a03176ee106d3f0fa90e381da478ddae405918153cca248e682cd0c4a2269
-ARROW_CARES_BUILD_VERSION=1.17.2
-ARROW_CARES_BUILD_SHA256_CHECKSUM=4803c844ce20ce510ef0eb83f8ea41fa24ecaae9d280c468c582d2bb25b3913d
+ARROW_CARES_BUILD_VERSION=1.34.6
+ARROW_CARES_BUILD_SHA256_CHECKSUM=912dd7cc3b3e8a79c52fd7fb9c0f4ecf0aaa73e45efda880266a2d6e26b84ef5
 ARROW_GBENCHMARK_BUILD_VERSION=v1.8.3
 ARROW_GBENCHMARK_BUILD_SHA256_CHECKSUM=6bc180a57d23d4d9515519f92b0c83d61b05b5bab188961f36ac7b06b0d9e9ce
 ARROW_GFLAGS_BUILD_VERSION=v2.2.2
@@ -147,7 +147,7 @@ DEPENDENCIES=(
   "ARROW_BOOST_URL boost-${ARROW_BOOST_BUILD_VERSION}-cmake.tar.gz https://github.com/boostorg/boost/releases/download/boost-${ARROW_BOOST_BUILD_VERSION}/boost-${ARROW_BOOST_BUILD_VERSION}-cmake.tar.gz"
   "ARROW_BROTLI_URL brotli-${ARROW_BROTLI_BUILD_VERSION}.tar.gz https://github.com/google/brotli/archive/${ARROW_BROTLI_BUILD_VERSION}.tar.gz"
   "ARROW_BZIP2_URL bzip2-${ARROW_BZIP2_BUILD_VERSION}.tar.gz https://sourceware.org/pub/bzip2/bzip2-${ARROW_BZIP2_BUILD_VERSION}.tar.gz"
-  "ARROW_CARES_URL cares-${ARROW_CARES_BUILD_VERSION}.tar.gz https://github.com/c-ares/c-ares/releases/download/cares-${ARROW_CARES_BUILD_VERSION//./_}/c-ares-${ARROW_CARES_BUILD_VERSION}.tar.gz"
+  "ARROW_CARES_URL cares-${ARROW_CARES_BUILD_VERSION}.tar.gz https://github.com/c-ares/c-ares/releases/download/v${ARROW_CARES_BUILD_VERSION}/c-ares-${ARROW_CARES_BUILD_VERSION}.tar.gz"
   "ARROW_GBENCHMARK_URL gbenchmark-${ARROW_GBENCHMARK_BUILD_VERSION}.tar.gz https://github.com/google/benchmark/archive/${ARROW_GBENCHMARK_BUILD_VERSION}.tar.gz"
   "ARROW_GFLAGS_URL gflags-${ARROW_GFLAGS_BUILD_VERSION}.tar.gz https://github.com/gflags/gflags/archive/${ARROW_GFLAGS_BUILD_VERSION}.tar.gz"
   "ARROW_GLOG_URL glog-${ARROW_GLOG_BUILD_VERSION}.tar.gz https://github.com/google/glog/archive/${ARROW_GLOG_BUILD_VERSION}.tar.gz"