diff --git a/package/python-boto3/python-boto3.hash b/package/python-boto3/python-boto3.hash
index 4036519183..833ec24b26 100644
--- a/package/python-boto3/python-boto3.hash
+++ b/package/python-boto3/python-boto3.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/boto3/json
-md5  a8f7a881ac754a889490c65cad7aa97b  boto3-1.36.3.tar.gz
-sha256  53a5307f6a3526ee2f8590e3c45efa504a3ea4532c1bfe4926c0c19bf188d141  boto3-1.36.3.tar.gz
+md5  2b530f972284ee12cd0fc7a829a65d67  boto3-1.37.34.tar.gz
+sha256  94ca07328474db3fa605eb99b011512caa73f7161740d365a1f00cfebfb6dd90  boto3-1.37.34.tar.gz
 # Locally computed sha256 checksums
 sha256  0d542e0c8804e39aa7f37eb00da5a762149dc682d7829451287e11b938e94594  LICENSE
diff --git a/package/python-boto3/python-boto3.mk b/package/python-boto3/python-boto3.mk
index 3d8a7852ea..2373a6bb8f 100644
--- a/package/python-boto3/python-boto3.mk
+++ b/package/python-boto3/python-boto3.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_BOTO3_VERSION = 1.36.3
+PYTHON_BOTO3_VERSION = 1.37.34
 PYTHON_BOTO3_SOURCE = boto3-$(PYTHON_BOTO3_VERSION).tar.gz
-PYTHON_BOTO3_SITE = https://files.pythonhosted.org/packages/07/12/b9ad4c3dd6e6044243d08bae076795e41357651683f4fad99d5828c4291c
+PYTHON_BOTO3_SITE = https://files.pythonhosted.org/packages/39/5d/6b1ca20ba4da350799509a69f2d295ae11d5ec08a98e82f74b5708a8180c
 PYTHON_BOTO3_SETUP_TYPE = setuptools
 PYTHON_BOTO3_LICENSE = Apache-2.0
 PYTHON_BOTO3_LICENSE_FILES = LICENSE
diff --git a/support/testing/tests/package/test_python_boto3.py b/support/testing/tests/package/test_python_boto3.py
index 02a1f69d40..e5fbc386b9 100644
--- a/support/testing/tests/package/test_python_boto3.py
+++ b/support/testing/tests/package/test_python_boto3.py
@@ -12,7 +12,7 @@ class TestPythonPy3Boto3(TestPythonPackageBase):
         BR2_TARGET_ROOTFS_EXT2_SIZE="250M"
         """
     sample_scripts = ["tests/package/sample_python_boto3.py"]
-    timeout = 10
+    timeout = 20
 
     def login(self):
         ext2_file = os.path.join(self.builddir, "images", "rootfs.ext2")