diff --git a/package/python-yarl/Config.in b/package/python-yarl/Config.in
index 84e14ce92e..48ed07cfde 100644
--- a/package/python-yarl/Config.in
+++ b/package/python-yarl/Config.in
@@ -1,7 +1,8 @@
 config BR2_PACKAGE_PYTHON_YARL
 	bool "python-yarl"
-	select BR2_PACKAGE_PYTHON_MULTIDICT
-	select BR2_PACKAGE_PYTHON_IDNA
+	select BR2_PACKAGE_PYTHON_IDNA # runtime
+	select BR2_PACKAGE_PYTHON_MULTIDICT # runtime
+	select BR2_PACKAGE_PYTHON_PROPCACHE # runtime
 	help
 	  Yet another URL library.
 
diff --git a/package/python-yarl/python-yarl.hash b/package/python-yarl/python-yarl.hash
index 624297aeba..766541bc94 100644
--- a/package/python-yarl/python-yarl.hash
+++ b/package/python-yarl/python-yarl.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/yarl/json
-md5  4e46a0c7078d34d9734a7c5d182dee92  yarl-1.9.2.tar.gz
-sha256  04ab9d4b9f587c06d801c2abfe9317b77cdf996c65a90d5e84ecc45010823571  yarl-1.9.2.tar.gz
+md5  23595f461eb3eeba689e3567f60cd07a  yarl-1.16.0.tar.gz
+sha256  b6f687ced5510a9a2474bbae96a4352e5ace5fa34dc44a217b0537fec1db00b4  yarl-1.16.0.tar.gz
 # Locally computed sha256 checksums
 sha256  cfc7749b96f63bd31c3c42b5c471bf756814053e847c10f3eb003417bc523d30  LICENSE
diff --git a/package/python-yarl/python-yarl.mk b/package/python-yarl/python-yarl.mk
index e4424ff577..78f5082bce 100644
--- a/package/python-yarl/python-yarl.mk
+++ b/package/python-yarl/python-yarl.mk
@@ -4,11 +4,14 @@
 #
 ################################################################################
 
-PYTHON_YARL_VERSION = 1.9.2
+PYTHON_YARL_VERSION = 1.16.0
 PYTHON_YARL_SOURCE = yarl-$(PYTHON_YARL_VERSION).tar.gz
-PYTHON_YARL_SITE = https://files.pythonhosted.org/packages/5f/3f/04b3c5e57844fb9c034b09c5cb6d2b43de5d64a093c30529fd233e16cf09
+PYTHON_YARL_SITE = https://files.pythonhosted.org/packages/23/52/e9766cc6c2eab7dd1e9749c52c9879317500b46fb97d4105223f86679f93
 PYTHON_YARL_LICENSE = Apache-2.0
 PYTHON_YARL_LICENSE_FILES = LICENSE
 PYTHON_YARL_SETUP_TYPE = setuptools
+PYTHON_YARL_DEPENDENCIES = \
+	host-python-cython \
+	host-python-expandvars
 
 $(eval $(python-package))