diff --git a/bazel/grpc_deps.bzl b/bazel/grpc_deps.bzl
index b7145f930ed30..927975ff79255 100644
--- a/bazel/grpc_deps.bzl
+++ b/bazel/grpc_deps.bzl
@@ -87,11 +87,11 @@ def grpc_deps():
         # bazel run @com_google_fuzztest//bazel:setup_configs > tools/fuzztest.bazelrc
         http_archive(
             name = "com_google_fuzztest",
-            sha256 = "cdf8d8cd3cdc77280a7c59b310edf234e489a96b6e727cb271e7dfbeb9bcca8d",
-            strip_prefix = "fuzztest-4ecaeb5084a061a862af8f86789ee184cd3d3f18",
+            sha256 = "c31d122e8b06d1e9cf1edb59d7c6a66ed232101fb9074ad6b74d6282a5768a32",
+            strip_prefix = "fuzztest-b1d0067a853ff9320d7abe5b2761201b586f66dc",
             urls = [
                 # 2023-05-16
-                "https://github.com/google/fuzztest/archive/4ecaeb5084a061a862af8f86789ee184cd3d3f18.tar.gz",
+                "https://github.com/google/fuzztest/archive/b1d0067a853ff9320d7abe5b2761201b586f66dc.tar.gz",
             ],
         )
 
diff --git a/tools/bazel.rc b/tools/bazel.rc
index ecd4ad531cb95..69dbe29c5c253 100644
--- a/tools/bazel.rc
+++ b/tools/bazel.rc
@@ -15,6 +15,10 @@ common --incompatible_disallow_struct_provider_syntax=false
 # for platform-appropriate cxxopts
 common --enable_platform_specific_config
 
+# avoid riegeli use for gRPC: fuzztest wants to use it by default, but we don't need
+# it in any open source build.
+common --@com_google_fuzztest//fuzztest:use_riegeli=false
+
 build:windows --cxxopt='/std:c++17'
 build:windows --host_cxxopt='/std:c++17'
 build:linux   --cxxopt='-std=c++17'
diff --git a/tools/fuzztest.bazelrc b/tools/fuzztest.bazelrc
index 1721cf56bde72..5e04855165886 100644
--- a/tools/fuzztest.bazelrc
+++ b/tools/fuzztest.bazelrc
@@ -8,16 +8,11 @@
 #
 #  try-import %workspace%/fuzztest.bazelrc
 
-
 ### Common options.
 #
 # Do not use directly.
 
-# Compile and link with Address Sanitizer (ASAN).
-build:fuzztest-common --linkopt=-fsanitize=address
-build:fuzztest-common --copt=-fsanitize=address
-
-# Standard define for "ifdef-ing" any fuzz test specific code.
+# Standard define for \"ifdef-ing\" any fuzz test specific code.
 build:fuzztest-common --copt=-DFUZZING_BUILD_MODE_UNSAFE_FOR_PRODUCTION
 
 # In fuzz tests, we want to catch assertion violations even in optimized builds.
@@ -27,22 +22,64 @@ build:fuzztest-common --copt=-UNDEBUG
 # See https://libcxx.llvm.org/UsingLibcxx.html#enabling-the-safe-libc-mode
 build:fuzztest-common --copt=-D_LIBCPP_ENABLE_ASSERTIONS=1
 
+### ASan (Address Sanitizer) build configuration.
+#
+# Use with: --config=asan
+
+build:asan --linkopt=-fsanitize=address
+build:asan --copt=-fsanitize=address
+
+# We rely on the following flag instead of the compiler provided
+# __has_feature(address_sanitizer) to know that we have an ASAN build even in
+# the uninstrumented runtime.
+build:asan --copt=-DADDRESS_SANITIZER
 
 ### FuzzTest build configuration.
 #
 # Use with: --config=fuzztest
+#
+# Note that this configuration includes the ASan configuration.
 
+build:fuzztest --config=asan
 build:fuzztest --config=fuzztest-common
 
 # Link statically.
 build:fuzztest --dynamic_mode=off
 
-# We rely on the following flag instead of the compiler provided
-# __has_feature(address_sanitizer) to know that we have an ASAN build even in
-# the uninstrumented runtime.
-build:fuzztest --copt=-DADDRESS_SANITIZER
+# We apply coverage tracking instrumentation to everything but Centipede and the
+# FuzzTest framework itself (including GoogleTest and GoogleMock).
+build:fuzztest --copt=-fsanitize-coverage=inline-8bit-counters,trace-cmp,pc-table
+build:fuzztest --per_file_copt=common/.*,fuzztest/.*,centipede/.*,-centipede/.*fuzz_target,googletest/.*,googlemock/.*@-fsanitize-coverage=0
+
+### Experimental FuzzTest build configuration.
+#
+# Use with: --config=fuzztest-experimental
+#
+# Use this instead of --config=fuzztest when building test binaries to run with
+# Centipede. Eventually, this will be consolidated with --config=fuzztest.
+# Note that this configuration doesn't include the ASan configuration. If you
+# want to use both, you can use --config=fuzztest-experimental --config=asan.
+
+build:fuzztest-experimental --config=fuzztest-common
+build:fuzztest-experimental --@com_google_fuzztest//fuzztest:centipede_integration
+
+# Generate line tables for debugging.
+build:fuzztest-experimental --copt=-gline-tables-only
+build:fuzztest-experimental --strip=never
+
+# Prevent memcmp & co from being inlined.
+build:fuzztest-experimental --copt=-fno-builtin
+
+# Disable heap checking.
+build:fuzztest-experimental --copt=-DHEAPCHECK_DISABLE
+
+# Link statically.
+build:fuzztest-experimental --dynamic_mode=off
 
-# We apply coverage tracking instrumentation to everything but the
+# We apply coverage tracking instrumentation to everything but Centipede and the
 # FuzzTest framework itself (including GoogleTest and GoogleMock).
-build:fuzztest --per_file_copt=+//,-fuzztest/.*,-googletest/.*,-googlemock/.*@-fsanitize-coverage=inline-8bit-counters,-fsanitize-coverage=trace-cmp
+# TODO(b/374840534): Add -fsanitize-coverage=control-flow once we start building
+# with clang 16+.
+build:fuzztest-experimental --copt=-fsanitize-coverage=trace-pc-guard,pc-table,trace-loads,trace-cmp
+build:fuzztest-experimental --per_file_copt=common/.*,fuzztest/.*,centipede/.*,-centipede/.*fuzz_target,googletest/.*,googlemock/.*@-fsanitize-coverage=0