diff --git a/package/python-cachetools/python-cachetools.hash b/package/python-cachetools/python-cachetools.hash
index 7b6b939191..fb16cb492b 100644
--- a/package/python-cachetools/python-cachetools.hash
+++ b/package/python-cachetools/python-cachetools.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/cachetools/json
-md5  5317c13b69c4021e925a2fbbc199bcc9  cachetools-5.3.2.tar.gz
-sha256  086ee420196f7b2ab9ca2db2520aca326318b68fe5ba8bc4d49cca91add450f2  cachetools-5.3.2.tar.gz
+md5  d589387a314eed031e97348a73b8cf91  cachetools-5.5.0.tar.gz
+sha256  2cc24fb4cbe39633fb7badd9db9ca6295d766d9c2995f245725a46715d050f2a  cachetools-5.5.0.tar.gz
 # Locally computed sha256 checksums
-sha256  76260c1370a7d41d5fac71a27d781f3add5d7249adfbbfa930846d2d9e47dbd5  LICENSE
+sha256  2f4d2ff05f05c5da3879f40292b7600332d775dc7ed320d43dd42f3cd7d92c9b  LICENSE
diff --git a/package/python-cachetools/python-cachetools.mk b/package/python-cachetools/python-cachetools.mk
index c841e0761f..38a2313d59 100644
--- a/package/python-cachetools/python-cachetools.mk
+++ b/package/python-cachetools/python-cachetools.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_CACHETOOLS_VERSION = 5.3.2
+PYTHON_CACHETOOLS_VERSION = 5.5.0
 PYTHON_CACHETOOLS_SOURCE = cachetools-$(PYTHON_CACHETOOLS_VERSION).tar.gz
-PYTHON_CACHETOOLS_SITE = https://files.pythonhosted.org/packages/10/21/1b6880557742c49d5b0c4dcf0cf544b441509246cdd71182e0847ac859d5
+PYTHON_CACHETOOLS_SITE = https://files.pythonhosted.org/packages/c3/38/a0f315319737ecf45b4319a8cd1f3a908e29d9277b46942263292115eee7
 PYTHON_CACHETOOLS_SETUP_TYPE = setuptools
 PYTHON_CACHETOOLS_LICENSE = MIT
 PYTHON_CACHETOOLS_LICENSE_FILES = LICENSE