diff --git a/package/python-fastapi/Config.in b/package/python-fastapi/Config.in
index 21997daf9a..0dd4499a3f 100644
--- a/package/python-fastapi/Config.in
+++ b/package/python-fastapi/Config.in
@@ -1,6 +1,7 @@
 config BR2_PACKAGE_PYTHON_FASTAPI
 	bool "python-fastapi"
 	depends on BR2_PACKAGE_HOST_RUSTC_TARGET_ARCH_SUPPORTS # python-pydantic -> python-pydantic-core
+	select BR2_PACKAGE_PYTHON_ANNOTATED_DOC # runtime
 	select BR2_PACKAGE_PYTHON_PYDANTIC # runtime
 	select BR2_PACKAGE_PYTHON_STARLETTE # runtime
 	select BR2_PACKAGE_PYTHON_TYPING_EXTENSIONS # runtime
diff --git a/package/python-fastapi/python-fastapi.hash b/package/python-fastapi/python-fastapi.hash
index 34bfe22c87..7ef8628579 100644
--- a/package/python-fastapi/python-fastapi.hash
+++ b/package/python-fastapi/python-fastapi.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/fastapi/json
-md5  5d539db8065d3579430ed00577e8a86b  fastapi-0.119.1.tar.gz
-sha256  a5e3426edce3fe221af4e1992c6d79011b247e3b03cc57999d697fe76cbf8ae0  fastapi-0.119.1.tar.gz
+md5  b72bd92dd17ba585f8fc3cf37f95c6f2  fastapi-0.123.9.tar.gz
+sha256  ab33d672d8e1cc6e0b49777eb73c32ccf20761011f5ca16755889ab406fd1de0  fastapi-0.123.9.tar.gz
 # Locally computed sha256 checksums
 sha256  4ec89ffc81485b97fec584b2d4a961032eeffe834453894fd9c1274906cc744e  LICENSE
diff --git a/package/python-fastapi/python-fastapi.mk b/package/python-fastapi/python-fastapi.mk
index 4a067494a7..207dc88d8f 100644
--- a/package/python-fastapi/python-fastapi.mk
+++ b/package/python-fastapi/python-fastapi.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_FASTAPI_VERSION = 0.119.1
+PYTHON_FASTAPI_VERSION = 0.123.9
 PYTHON_FASTAPI_SOURCE = fastapi-$(PYTHON_FASTAPI_VERSION).tar.gz
-PYTHON_FASTAPI_SITE = https://files.pythonhosted.org/packages/a6/f4/152127681182e6413e7a89684c434e19e7414ed7ac0c632999c3c6980640
+PYTHON_FASTAPI_SITE = https://files.pythonhosted.org/packages/2c/01/c3fb48c0135d89586a03c3e2c5bc04540dda52079a1af5cac4a63598efb9
 PYTHON_FASTAPI_SETUP_TYPE = pep517
 PYTHON_FASTAPI_LICENSE = MIT
 PYTHON_FASTAPI_LICENSE_FILES = LICENSE