diff --git a/CMakeLists.txt b/CMakeLists.txt
index f97f96b5bf..f5e5d06d35 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -657,13 +657,13 @@ if(WITH_SYSTEM_BOOST)
   if(BOOST_ROOT AND CMAKE_LIBRARY_ARCHITECTURE)
     set(BOOST_LIBRARYDIR "${BOOST_ROOT}/lib/${CMAKE_LIBRARY_ARCHITECTURE}")
   endif()
-  find_package(Boost 1.67 COMPONENTS ${BOOST_COMPONENTS} REQUIRED)
+  find_package(Boost 1.70 COMPONENTS ${BOOST_COMPONENTS} REQUIRED)
 else()
   set(BOOST_J 1 CACHE STRING
     "max jobs for Boost build") # override w/-DBOOST_J=<n>
   set(Boost_USE_STATIC_LIBS ON)
   include(BuildBoost)
-  build_boost(1.67
+  build_boost(1.70
     COMPONENTS ${BOOST_COMPONENTS} ${BOOST_HEADER_COMPONENTS})
 endif()
 include_directories(BEFORE SYSTEM ${Boost_INCLUDE_DIRS})
diff --git a/cmake/modules/BuildBoost.cmake b/cmake/modules/BuildBoost.cmake
index f46cc0d485..4254508570 100644
--- a/cmake/modules/BuildBoost.cmake
+++ b/cmake/modules/BuildBoost.cmake
@@ -137,14 +137,14 @@ function(do_build_boost version)
     check_boost_version("${PROJECT_SOURCE_DIR}/src/boost" ${version})
     set(source_dir
       SOURCE_DIR "${PROJECT_SOURCE_DIR}/src/boost")
-  elseif(version VERSION_GREATER 1.67)
+  elseif(version VERSION_GREATER 1.70)
     message(FATAL_ERROR "Unknown BOOST_REQUESTED_VERSION: ${version}")
   else()
     message(STATUS "boost will be downloaded...")
     # NOTE: If you change this version number make sure the package is available
     # at the three URLs below (may involve uploading to download.ceph.com)
-    set(boost_version 1.67.0)
-    set(boost_sha256 2684c972994ee57fc5632e03bf044746f6eb45d4920c343937a465fd67a5adba)
+    set(boost_version 1.70.0)
+    set(boost_sha256 430ae8354789de4fd19ee52f3b1f739e1fba576f0aded0897c3c2bc00fb38778)
     string(REPLACE "." "_" boost_version_underscore ${boost_version} )
     set(boost_url
       https://dl.bintray.com/boostorg/release/${boost_version}/source/boost_${boost_version_underscore}.tar.bz2)
diff --git a/src/rgw/rgw_asio_frontend.cc b/src/rgw/rgw_asio_frontend.cc
index e4be074ec7..4af3695dc1 100644
--- a/src/rgw/rgw_asio_frontend.cc
+++ b/src/rgw/rgw_asio_frontend.cc
@@ -81,7 +81,8 @@ class StreamIO : public rgw::asio::ClientIO {
 using SharedMutex = ceph::async::SharedMutex<boost::asio::io_context::executor_type>;

 template <typename Stream>
-void handle_connection(RGWProcessEnv& env, Stream& stream,
+void handle_connection(boost::asio::io_context& context,
+                       RGWProcessEnv& env, Stream& stream,
                        boost::beast::flat_buffer& buffer, bool is_ssl,
                        SharedMutex& pause_mutex,
                        rgw::dmclock::Scheduler *scheduler,
@@ -152,7 +153,7 @@ void handle_connection(RGWProcessEnv& env, Stream& stream,
                                   rgw::io::add_conlen_controlling(
                                     &real_client))));
       RGWRestfulIO client(cct, &real_client_io);
-      auto y = optional_yield{socket.get_io_context(), yield};
+      auto y = optional_yield{context, yield};
       process_request(env.store, env.rest, &req, env.uri_prefix,
                       *env.auth_registry, &client, env.olog, y, scheduler);
     }
@@ -560,7 +561,7 @@ void AsioFrontend::accept(Listener& l, boost::system::error_code ec)
           return;
         }
         buffer.consume(bytes);
-        handle_connection(env, stream, buffer, true, pause_mutex,
+        handle_connection(context, env, stream, buffer, true, pause_mutex,
                           scheduler.get(), ec, yield);
         if (!ec) {
           // ssl shutdown (ignoring errors)
@@ -578,7 +579,7 @@ void AsioFrontend::accept(Listener& l, boost::system::error_code ec)
         auto c = connections.add(conn);
         boost::beast::flat_buffer buffer;
         boost::system::error_code ec;
-        handle_connection(env, s, buffer, false, pause_mutex,
+        handle_connection(context, env, s, buffer, false, pause_mutex,
                           scheduler.get(), ec, yield);
         s.shutdown(tcp::socket::shutdown_both, ec);
       });
diff --git a/src/rgw/rgw_dmclock_async_scheduler.h b/src/rgw/rgw_dmclock_async_scheduler.h
index 70487a5253..1d454acd2e 100644
--- a/src/rgw/rgw_dmclock_async_scheduler.h
+++ b/src/rgw/rgw_dmclock_async_scheduler.h
@@ -82,7 +82,12 @@ class AsyncScheduler : public md_config_obs_t, public Scheduler {
   using Completion = async::Completion<Signature, async::AsBase<Request>>;

   using Clock = ceph::coarse_real_clock;
+#if BOOST_VERSION < 107000
   using Timer = boost::asio::basic_waitable_timer<Clock>;
+#else
+  using Timer = boost::asio::basic_waitable_timer<Clock,
+        boost::asio::wait_traits<Clock>, executor_type>;
+#endif
   Timer timer; //< timer for the next scheduled request

   CephContext *const cct;
diff --git a/src/rgw/rgw_reshard.h b/src/rgw/rgw_reshard.h
index d99a6ff68d..213fc238d2 100644
--- a/src/rgw/rgw_reshard.h
+++ b/src/rgw/rgw_reshard.h
@@ -183,7 +183,14 @@ class RGWReshardWait {
   ceph::condition_variable cond;

   struct Waiter : boost::intrusive::list_base_hook<> {
-    boost::asio::basic_waitable_timer<Clock> timer;
+#if BOOST_VERSION < 107000
+    using Timer = boost::asio::basic_waitable_timer<Clock>;
+#else
+    using Executor = boost::asio::io_context::executor_type;
+    using Timer = boost::asio::basic_waitable_timer<Clock,
+          boost::asio::wait_traits<Clock>, Executor>;
+#endif
+    Timer timer;
     explicit Waiter(boost::asio::io_context& ioc) : timer(ioc) {}
   };
   boost::intrusive::list<Waiter> waiters;