diff --git a/package/gstreamer1/gstreamer1/gstreamer1.hash b/package/gstreamer1/gstreamer1/gstreamer1.hash
index dd379e6027..780bfddb25 100644
--- a/package/gstreamer1/gstreamer1/gstreamer1.hash
+++ b/package/gstreamer1/gstreamer1/gstreamer1.hash
@@ -1,3 +1,3 @@
-# From https://gstreamer.freedesktop.org/src/gstreamer/gstreamer-1.16.2.tar.xz.sha256sum
-sha256 e3f044246783fd685439647373fa13ba14f7ab0b346eadd06437092f8419e94e gstreamer-1.16.2.tar.xz
+# From https://gstreamer.freedesktop.org/src/gstreamer/gstreamer-1.16.3.tar.xz.sha256sum
+sha256 692f037968e454e508b0f71d9674e2e26c78475021407fcf8193b1c7e59543c7 gstreamer-1.16.3.tar.xz
 sha256 f445dc78b88496f7e20c7a2a461b95baba5865c8919b8289ac24ac0a80c6ce7a COPYING
diff --git a/package/gstreamer1/gstreamer1/gstreamer1.mk b/package/gstreamer1/gstreamer1/gstreamer1.mk
index 4eb3158b8f..9a3f9dbb52 100644
--- a/package/gstreamer1/gstreamer1/gstreamer1.mk
+++ b/package/gstreamer1/gstreamer1/gstreamer1.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-GSTREAMER1_VERSION = 1.16.2
+GSTREAMER1_VERSION = 1.16.3
 GSTREAMER1_SOURCE = gstreamer-$(GSTREAMER1_VERSION).tar.xz
 GSTREAMER1_SITE = https://gstreamer.freedesktop.org/src/gstreamer
 GSTREAMER1_INSTALL_STAGING = YES