diff --git a/package/python-ml-dtypes/Config.in b/package/python-ml-dtypes/Config.in
index 7dce2fea42..a8b351d2e3 100644
--- a/package/python-ml-dtypes/Config.in
+++ b/package/python-ml-dtypes/Config.in
@@ -5,7 +5,7 @@ config BR2_PACKAGE_PYTHON_ML_DTYPES
 	depends on BR2_TOOLCHAIN_USES_GLIBC || BR2_TOOLCHAIN_USES_MUSL # python-numpy
 	depends on BR2_TOOLCHAIN_GCC_AT_LEAST_9 # python-numpy
 	depends on BR2_HOST_GCC_AT_LEAST_9 # host-python-numpy
-	select BR2_PACKAGE_PYTHON_NUMPY
+	select BR2_PACKAGE_PYTHON_NUMPY # runtime
 	help
 	  ml_dtypes is a stand-alone implementation of several NumPy
 	  dtype extensions used in machine learning libraries.
diff --git a/package/python-ml-dtypes/python-ml-dtypes.hash b/package/python-ml-dtypes/python-ml-dtypes.hash
index 9f81056cd0..2c5e3a0f75 100644
--- a/package/python-ml-dtypes/python-ml-dtypes.hash
+++ b/package/python-ml-dtypes/python-ml-dtypes.hash
@@ -1,5 +1,5 @@
-# md5, sha256 from https://pypi.org/pypi/ml_dtypes/json
-md5  410474c03a1754e6b5197a24040e3f3c  ml_dtypes-0.5.1.tar.gz
-sha256  ac5b58559bb84a95848ed6984eb8013249f90b6bab62aa5acbad876e256002c9  ml_dtypes-0.5.1.tar.gz
+# md5, sha256 from https://pypi.org/pypi/ml-dtypes/json
+md5  bfecfff98424dc51007956eb14ce500d  ml_dtypes-0.5.4.tar.gz
+sha256  8ab06a50fb9bf9666dd0fe5dfb4676fa2b0ac0f31ecff72a6c3af8e22c063453  ml_dtypes-0.5.4.tar.gz
 # Locally computed sha256 checksums
 sha256  cfc7749b96f63bd31c3c42b5c471bf756814053e847c10f3eb003417bc523d30  LICENSE
diff --git a/package/python-ml-dtypes/python-ml-dtypes.mk b/package/python-ml-dtypes/python-ml-dtypes.mk
index ab50069696..e83131c993 100644
--- a/package/python-ml-dtypes/python-ml-dtypes.mk
+++ b/package/python-ml-dtypes/python-ml-dtypes.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_ML_DTYPES_VERSION = 0.5.1
+PYTHON_ML_DTYPES_VERSION = 0.5.4
 PYTHON_ML_DTYPES_SOURCE = ml_dtypes-$(PYTHON_ML_DTYPES_VERSION).tar.gz
-PYTHON_ML_DTYPES_SITE = https://files.pythonhosted.org/packages/32/49/6e67c334872d2c114df3020e579f3718c333198f8312290e09ec0216703a
+PYTHON_ML_DTYPES_SITE = https://files.pythonhosted.org/packages/0e/4a/c27b42ed9b1c7d13d9ba8b6905dece787d6259152f2309338aed29b2447b
 PYTHON_ML_DTYPES_LICENSE = Apache-2.0
 PYTHON_ML_DTYPES_LICENSE_FILES = LICENSE
 PYTHON_ML_DTYPES_SETUP_TYPE = setuptools