diff --git a/package/tbtools/tbtools.hash b/package/tbtools/tbtools.hash
index 25879c2780..58793dee0c 100644
--- a/package/tbtools/tbtools.hash
+++ b/package/tbtools/tbtools.hash
@@ -1,3 +1,3 @@
 # Locally calculated
-sha256  6ec94630bc4e1afec1342cfd635d1c7da7d82f6c5f00adac61d164505c2a0717  tbtools-0.4.2-cargo2.tar.gz
+sha256  377d2fab96cf78d24dfd1b16b737afb4e47f0b712e13abb7ac1443fc2aa0931a  tbtools-0.5.0-cargo2.tar.gz
 sha256  9b16a3add311d607af8d9b348a842a37840d0f47dfcc6cf2a7756ee02c24ed69  LICENSE
diff --git a/package/tbtools/tbtools.mk b/package/tbtools/tbtools.mk
index 13b2ee65f9..1200e1c669 100644
--- a/package/tbtools/tbtools.mk
+++ b/package/tbtools/tbtools.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-TBTOOLS_VERSION = 0.4.2
+TBTOOLS_VERSION = 0.5.0
 TBTOOLS_SITE = $(call github,intel,tbtools,v$(TBTOOLS_VERSION))
 TBTOOLS_LICENSE = MIT
 TBTOOLS_LICENSE_FILES = LICENSE