diff --git a/cpp/thirdparty/versions.txt b/cpp/thirdparty/versions.txt
index 7ba1f4f876b..fd596f9a24d 100644
--- a/cpp/thirdparty/versions.txt
+++ b/cpp/thirdparty/versions.txt
@@ -99,8 +99,11 @@ ARROW_PROTOBUF_BUILD_SHA256_CHECKSUM=2f723218f6cb709ae4cdc4fb5ed56a5951fc5d466f0
 # warnings.
 ARROW_RAPIDJSON_BUILD_VERSION=232389d4f1012dddec4ef84861face2d2ba85709
 ARROW_RAPIDJSON_BUILD_SHA256_CHECKSUM=b9290a9a6d444c8e049bd589ab804e0ccf2b05dc5984a19ed5ae75d090064806
-ARROW_RE2_BUILD_VERSION=2022-06-01
-ARROW_RE2_BUILD_SHA256_CHECKSUM=f89c61410a072e5cbcf8c27e3a778da7d6fd2f2b5b1445cd4f4508bee946ab0f
+# RE2 2023-03-01 is pinned to avoid Abseil dependency. Versions after 2023-06-01
+# require Abseil, which would add significant build time and complexity, particularly
+# for CRAN builds. This version includes musl libc support (GH-48010).
+ARROW_RE2_BUILD_VERSION=2023-03-01
+ARROW_RE2_BUILD_SHA256_CHECKSUM=7a9a4824958586980926a300b4717202485c4b4115ac031822e29aa4ef207e48
 ARROW_SNAPPY_BUILD_VERSION=1.2.2
 ARROW_SNAPPY_BUILD_SHA256_CHECKSUM=90f74bc1fbf78a6c56b3c4a082a05103b3a56bb17bca1a27e052ea11723292dc
 ARROW_SUBSTRAIT_BUILD_VERSION=v0.44.0