diff --git a/package/python-termcolor/python-termcolor.hash b/package/python-termcolor/python-termcolor.hash
index 4bed487025..d73588d22c 100644
--- a/package/python-termcolor/python-termcolor.hash
+++ b/package/python-termcolor/python-termcolor.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/termcolor/json
-md5  26f496075070852b5d39762bbd14ec46  termcolor-2.5.0.tar.gz
-sha256  998d8d27da6d48442e8e1f016119076b690d962507531df4890fcd2db2ef8a6f  termcolor-2.5.0.tar.gz
+md5  50ce238ff23fb53077f746b751b7ba7b  termcolor-3.2.0.tar.gz
+sha256  610e6456feec42c4bcd28934a8c87a06c3fa28b01561d46aa09a9881b8622c58  termcolor-3.2.0.tar.gz
 # Locally computed sha256 checksums
 sha256  e79b6bd82962c1330caaa7c42278567b08667777673f8e2371a624d5715d4c0e  COPYING.txt
diff --git a/package/python-termcolor/python-termcolor.mk b/package/python-termcolor/python-termcolor.mk
index e2492ab3c4..e0a6677241 100644
--- a/package/python-termcolor/python-termcolor.mk
+++ b/package/python-termcolor/python-termcolor.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_TERMCOLOR_VERSION = 2.5.0
+PYTHON_TERMCOLOR_VERSION = 3.2.0
 PYTHON_TERMCOLOR_SOURCE = termcolor-$(PYTHON_TERMCOLOR_VERSION).tar.gz
-PYTHON_TERMCOLOR_SITE = https://files.pythonhosted.org/packages/37/72/88311445fd44c455c7d553e61f95412cf89054308a1aa2434ab835075fc5
+PYTHON_TERMCOLOR_SITE = https://files.pythonhosted.org/packages/87/56/ab275c2b56a5e2342568838f0d5e3e66a32354adcc159b495e374cda43f5
 PYTHON_TERMCOLOR_SETUP_TYPE = hatch
 PYTHON_TERMCOLOR_LICENSE = MIT
 PYTHON_TERMCOLOR_LICENSE_FILES = COPYING.txt