diff --git a/package/libcamera/libcamera.hash b/package/libcamera/libcamera.hash
index 8c845d0e21..9f897e023f 100644
--- a/package/libcamera/libcamera.hash
+++ b/package/libcamera/libcamera.hash
@@ -1,4 +1,4 @@
-sha256  0b45861dc0430074bf10aaa78a69439b319e9df4ed041496fd5f95e546c8f575  libcamera-v0.4.0-git4.tar.gz
+sha256  cea3b5eebc01aa97930ae64989447ca00bad42ff1e0ce71d90d337650dd9e374  libcamera-v0.5.0-git4.tar.gz
 
 # license files
 sha256  fd38b2c053c0cce46d9c5ef3545a6e34d157a240ba99c9b8dca5d37a8147da6c  LICENSES/BSD-2-Clause.txt
diff --git a/package/libcamera/libcamera.mk b/package/libcamera/libcamera.mk
index 449f66ee36..d732424015 100644
--- a/package/libcamera/libcamera.mk
+++ b/package/libcamera/libcamera.mk
@@ -5,7 +5,7 @@
 ################################################################################
 
 LIBCAMERA_SITE = https://git.linuxtv.org/libcamera.git
-LIBCAMERA_VERSION = v0.4.0
+LIBCAMERA_VERSION = v0.5.0
 LIBCAMERA_SITE_METHOD = git
 LIBCAMERA_DEPENDENCIES = \
 	host-openssl \
@@ -51,9 +51,7 @@ LIBCAMERA_CONF_OPTS += -Dpycamera=enabled
 endif
 
 ifeq ($(BR2_PACKAGE_LIBCAMERA_V4L2),y)
-LIBCAMERA_CONF_OPTS += -Dv4l2=true
-else
-LIBCAMERA_CONF_OPTS += -Dv4l2=false
+LIBCAMERA_CONF_OPTS += -Dv4l2=enabled
 endif
 
 LIBCAMERA_PIPELINES-$(BR2_PACKAGE_LIBCAMERA_PIPELINE_IMX8_ISI) += imx8-isi