diff --git a/package/zstd/0001-Fix-zstd-dll-build-missing-dependencies-3496.patch b/package/zstd/0001-Fix-zstd-dll-build-missing-dependencies-3496.patch
new file mode 100644
index 0000000000..60737159c6
--- /dev/null
+++ b/package/zstd/0001-Fix-zstd-dll-build-missing-dependencies-3496.patch
@@ -0,0 +1,321 @@
+From e47c7c0d5a923dcdc3b302f9944eb4a70b7ee0be Mon Sep 17 00:00:00 2001
+From: Yonatan Komornik <11005061+yoniko@users.noreply.github.com>
+Date: Sun, 12 Feb 2023 12:32:31 -0800
+Subject: [PATCH] Fix zstd-dll build missing dependencies (#3496)
+
+* Fixes zstd-dll build (https://github.com/facebook/zstd/issues/3492):
+- Adds pool.o and threading.o dependency to the zstd-dll target
+- Moves custom allocation functions into header to avoid needing to add dependency on common.o
+- Adds test target for zstd-dll
+- Adds github workflow that buildis zstd-dll
+
+[nolange79: backport from upstream c78f434aa4f5f1097c8edb975f4c1635817a5a71]
+Signed-off-by: Norbert Lange <nolange79@gmail.com>
+---
+ .github/workflows/dev-short-tests.yml     |  9 +++-
+ contrib/linux-kernel/zstd_common_module.c |  3 --
+ lib/common/allocations.h                  | 55 +++++++++++++++++++++++
+ lib/common/pool.c                         |  2 +-
+ lib/common/zstd_common.c                  | 35 ---------------
+ lib/common/zstd_internal.h                |  5 ---
+ lib/compress/zstd_compress.c              |  1 +
+ lib/compress/zstd_cwksp.h                 |  1 +
+ lib/compress/zstdmt_compress.c            |  1 +
+ lib/decompress/zstd_ddict.c               |  1 +
+ lib/decompress/zstd_decompress.c          |  1 +
+ programs/Makefile                         |  2 +-
+ tests/Makefile                            |  8 +++-
+ 13 files changed, 76 insertions(+), 48 deletions(-)
+ create mode 100644 lib/common/allocations.h
+
+diff --git a/.github/workflows/dev-short-tests.yml b/.github/workflows/dev-short-tests.yml
+index 132dbb99..3ae2e9da 100644
+--- a/.github/workflows/dev-short-tests.yml
++++ b/.github/workflows/dev-short-tests.yml
+@@ -55,6 +55,14 @@ jobs:
+       run: |
+         make c89build V=1
+ 
++  build-zstd-dll:
++    runs-on: ubuntu-latest
++    steps:
++    - uses: actions/checkout@ac593985615ec2ede58e132d2e21d2b1cbd6127c # tag=v3
++    - name: build zstd bin against a dynamic lib (debuglevel for more dependencies)
++      run: |
++        make -C lib lib-mt-release 
++        DEBUGLEVEL=2 make -C programs zstd-dll
+ 
+   gcc-7-libzstd:
+     runs-on: ubuntu-latest
+@@ -328,7 +336,6 @@ jobs:
+         make -j -C programs allVariants MOREFLAGS=-O0
+         ./tests/test-variants.sh
+ 
+-
+   qemu-consistency:
+     name: QEMU ${{ matrix.name }}
+     runs-on: ubuntu-20.04
+diff --git a/contrib/linux-kernel/zstd_common_module.c b/contrib/linux-kernel/zstd_common_module.c
+index 2fead39e..466828e3 100644
+--- a/contrib/linux-kernel/zstd_common_module.c
++++ b/contrib/linux-kernel/zstd_common_module.c
+@@ -24,9 +24,6 @@ EXPORT_SYMBOL_GPL(HUF_readStats_wksp);
+ EXPORT_SYMBOL_GPL(ZSTD_isError);
+ EXPORT_SYMBOL_GPL(ZSTD_getErrorName);
+ EXPORT_SYMBOL_GPL(ZSTD_getErrorCode);
+-EXPORT_SYMBOL_GPL(ZSTD_customMalloc);
+-EXPORT_SYMBOL_GPL(ZSTD_customCalloc);
+-EXPORT_SYMBOL_GPL(ZSTD_customFree);
+ 
+ MODULE_LICENSE("Dual BSD/GPL");
+ MODULE_DESCRIPTION("Zstd Common");
+diff --git a/lib/common/allocations.h b/lib/common/allocations.h
+new file mode 100644
+index 00000000..a3153c4b
+--- /dev/null
++++ b/lib/common/allocations.h
+@@ -0,0 +1,55 @@
++/*
++ * Copyright (c) Meta Platforms, Inc. and affiliates.
++ * All rights reserved.
++ *
++ * This source code is licensed under both the BSD-style license (found in the
++ * LICENSE file in the root directory of this source tree) and the GPLv2 (found
++ * in the COPYING file in the root directory of this source tree).
++ * You may select, at your option, one of the above-listed licenses.
++ */
++
++/* This file provides custom allocation primitives
++ */
++
++#define ZSTD_DEPS_NEED_MALLOC
++#include "zstd_deps.h"   /* ZSTD_malloc, ZSTD_calloc, ZSTD_free, ZSTD_memset */
++
++#include "mem.h" /* MEM_STATIC */
++#define ZSTD_STATIC_LINKING_ONLY
++#include "../zstd.h" /* ZSTD_customMem */
++
++#ifndef ZSTD_ALLOCATIONS_H
++#define ZSTD_ALLOCATIONS_H
++
++/* custom memory allocation functions */
++
++MEM_STATIC void* ZSTD_customMalloc(size_t size, ZSTD_customMem customMem)
++{
++    if (customMem.customAlloc)
++        return customMem.customAlloc(customMem.opaque, size);
++    return ZSTD_malloc(size);
++}
++
++MEM_STATIC void* ZSTD_customCalloc(size_t size, ZSTD_customMem customMem)
++{
++    if (customMem.customAlloc) {
++        /* calloc implemented as malloc+memset;
++         * not as efficient as calloc, but next best guess for custom malloc */
++        void* const ptr = customMem.customAlloc(customMem.opaque, size);
++        ZSTD_memset(ptr, 0, size);
++        return ptr;
++    }
++    return ZSTD_calloc(1, size);
++}
++
++MEM_STATIC void ZSTD_customFree(void* ptr, ZSTD_customMem customMem)
++{
++    if (ptr!=NULL) {
++        if (customMem.customFree)
++            customMem.customFree(customMem.opaque, ptr);
++        else
++            ZSTD_free(ptr);
++    }
++}
++
++#endif /* ZSTD_ALLOCATIONS_H */
+diff --git a/lib/common/pool.c b/lib/common/pool.c
+index f3d9d085..d5ca5a78 100644
+--- a/lib/common/pool.c
++++ b/lib/common/pool.c
+@@ -10,9 +10,9 @@
+ 
+ 
+ /* ======   Dependencies   ======= */
++#include "../common/allocations.h"  /* ZSTD_customCalloc, ZSTD_customFree */
+ #include "zstd_deps.h" /* size_t */
+ #include "debug.h"     /* assert */
+-#include "zstd_internal.h"  /* ZSTD_customCalloc, ZSTD_customFree */
+ #include "pool.h"
+ 
+ /* ======   Compiler specifics   ====== */
+diff --git a/lib/common/zstd_common.c b/lib/common/zstd_common.c
+index 32085524..3f04c22a 100644
+--- a/lib/common/zstd_common.c
++++ b/lib/common/zstd_common.c
+@@ -14,7 +14,6 @@
+ *  Dependencies
+ ***************************************/
+ #define ZSTD_DEPS_NEED_MALLOC
+-#include "zstd_deps.h"   /* ZSTD_malloc, ZSTD_calloc, ZSTD_free, ZSTD_memset */
+ #include "error_private.h"
+ #include "zstd_internal.h"
+ 
+@@ -47,37 +46,3 @@ ZSTD_ErrorCode ZSTD_getErrorCode(size_t code) { return ERR_getErrorCode(code); }
+ /*! ZSTD_getErrorString() :
+  *  provides error code string from enum */
+ const char* ZSTD_getErrorString(ZSTD_ErrorCode code) { return ERR_getErrorString(code); }
+-
+-
+-
+-/*=**************************************************************
+-*  Custom allocator
+-****************************************************************/
+-void* ZSTD_customMalloc(size_t size, ZSTD_customMem customMem)
+-{
+-    if (customMem.customAlloc)
+-        return customMem.customAlloc(customMem.opaque, size);
+-    return ZSTD_malloc(size);
+-}
+-
+-void* ZSTD_customCalloc(size_t size, ZSTD_customMem customMem)
+-{
+-    if (customMem.customAlloc) {
+-        /* calloc implemented as malloc+memset;
+-         * not as efficient as calloc, but next best guess for custom malloc */
+-        void* const ptr = customMem.customAlloc(customMem.opaque, size);
+-        ZSTD_memset(ptr, 0, size);
+-        return ptr;
+-    }
+-    return ZSTD_calloc(1, size);
+-}
+-
+-void ZSTD_customFree(void* ptr, ZSTD_customMem customMem)
+-{
+-    if (ptr!=NULL) {
+-        if (customMem.customFree)
+-            customMem.customFree(customMem.opaque, ptr);
+-        else
+-            ZSTD_free(ptr);
+-    }
+-}
+diff --git a/lib/common/zstd_internal.h b/lib/common/zstd_internal.h
+index 37836dc7..1f942f27 100644
+--- a/lib/common/zstd_internal.h
++++ b/lib/common/zstd_internal.h
+@@ -350,11 +350,6 @@ typedef struct {
+ const seqStore_t* ZSTD_getSeqStore(const ZSTD_CCtx* ctx);   /* compress & dictBuilder */
+ int ZSTD_seqToCodes(const seqStore_t* seqStorePtr);   /* compress, dictBuilder, decodeCorpus (shouldn't get its definition from here) */
+ 
+-/* custom memory allocation functions */
+-void* ZSTD_customMalloc(size_t size, ZSTD_customMem customMem);
+-void* ZSTD_customCalloc(size_t size, ZSTD_customMem customMem);
+-void ZSTD_customFree(void* ptr, ZSTD_customMem customMem);
+-
+ 
+ /* ZSTD_invalidateRepCodes() :
+  * ensures next compression will not use repcodes from previous block.
+diff --git a/lib/compress/zstd_compress.c b/lib/compress/zstd_compress.c
+index b55f684c..173ce242 100644
+--- a/lib/compress/zstd_compress.c
++++ b/lib/compress/zstd_compress.c
+@@ -11,6 +11,7 @@
+ /*-*************************************
+ *  Dependencies
+ ***************************************/
++#include "../common/allocations.h"  /* ZSTD_customMalloc, ZSTD_customCalloc, ZSTD_customFree */
+ #include "../common/zstd_deps.h"  /* INT_MAX, ZSTD_memset, ZSTD_memcpy */
+ #include "../common/mem.h"
+ #include "hist.h"           /* HIST_countFast_wksp */
+diff --git a/lib/compress/zstd_cwksp.h b/lib/compress/zstd_cwksp.h
+index 97676693..9113cdbd 100644
+--- a/lib/compress/zstd_cwksp.h
++++ b/lib/compress/zstd_cwksp.h
+@@ -14,6 +14,7 @@
+ /*-*************************************
+ *  Dependencies
+ ***************************************/
++#include "../common/allocations.h"  /* ZSTD_customMalloc, ZSTD_customFree */
+ #include "../common/zstd_internal.h"
+ 
+ #if defined (__cplusplus)
+diff --git a/lib/compress/zstdmt_compress.c b/lib/compress/zstdmt_compress.c
+index 7a2c7172..bf2de4a7 100644
+--- a/lib/compress/zstdmt_compress.c
++++ b/lib/compress/zstdmt_compress.c
+@@ -20,6 +20,7 @@
+ 
+ 
+ /* ======   Dependencies   ====== */
++#include "../common/allocations.h"  /* ZSTD_customMalloc, ZSTD_customCalloc, ZSTD_customFree */
+ #include "../common/zstd_deps.h"   /* ZSTD_memcpy, ZSTD_memset, INT_MAX, UINT_MAX */
+ #include "../common/mem.h"         /* MEM_STATIC */
+ #include "../common/pool.h"        /* threadpool */
+diff --git a/lib/decompress/zstd_ddict.c b/lib/decompress/zstd_ddict.c
+index ad5c34a7..309ec0d0 100644
+--- a/lib/decompress/zstd_ddict.c
++++ b/lib/decompress/zstd_ddict.c
+@@ -14,6 +14,7 @@
+ /*-*******************************************************
+ *  Dependencies
+ *********************************************************/
++#include "../common/allocations.h"  /* ZSTD_customMalloc, ZSTD_customFree */
+ #include "../common/zstd_deps.h"   /* ZSTD_memcpy, ZSTD_memmove, ZSTD_memset */
+ #include "../common/cpu.h"         /* bmi2 */
+ #include "../common/mem.h"         /* low level memory routines */
+diff --git a/lib/decompress/zstd_decompress.c b/lib/decompress/zstd_decompress.c
+index d487966c..3f3ca57c 100644
+--- a/lib/decompress/zstd_decompress.c
++++ b/lib/decompress/zstd_decompress.c
+@@ -55,6 +55,7 @@
+ /*-*******************************************************
+ *  Dependencies
+ *********************************************************/
++#include "../common/allocations.h"  /* ZSTD_customMalloc, ZSTD_customCalloc, ZSTD_customFree */
+ #include "../common/zstd_deps.h"   /* ZSTD_memcpy, ZSTD_memmove, ZSTD_memset */
+ #include "../common/mem.h"         /* low level memory routines */
+ #define FSE_STATIC_LINKING_ONLY
+diff --git a/programs/Makefile b/programs/Makefile
+index fcff41dc..8507abef 100644
+--- a/programs/Makefile
++++ b/programs/Makefile
+@@ -225,7 +225,7 @@ zstd-noxz : zstd
+ .PHONY: zstd-dll
+ zstd-dll : LDFLAGS+= -L$(LIBZSTD)
+ zstd-dll : LDLIBS += -lzstd
+-zstd-dll : ZSTDLIB_LOCAL_SRC = xxhash.c
++zstd-dll : ZSTDLIB_LOCAL_SRC = xxhash.c pool.c threading.c
+ zstd-dll : zstd
+ 
+ 
+diff --git a/tests/Makefile b/tests/Makefile
+index 3eed19ea..778c7d67 100644
+--- a/tests/Makefile
++++ b/tests/Makefile
+@@ -95,7 +95,7 @@ allnothread: fullbench fuzzer paramgrill datagen decodecorpus
+ dll: fuzzer-dll zstreamtest-dll
+ 
+ .PHONY: zstd zstd32 zstd-nolegacy  # only external makefile knows how to build or update them
+-zstd zstd32 zstd-nolegacy:
++zstd zstd32 zstd-nolegacy zstd-dll:
+ 	$(MAKE) -C $(PRGDIR) $@ MOREFLAGS+="$(DEBUGFLAGS)"
+ 
+ .PHONY: libzstd
+@@ -328,13 +328,17 @@ test-all: test test32 test-decodecorpus-cli
+ test-zstd: ZSTD = $(PRGDIR)/zstd
+ test-zstd: zstd
+ 
++.PHONY: test-zstd-dll
++test-zstd-dll: ZSTD = $(PRGDIR)/zstd
++test-zstd-dll: zstd-dll
++
+ test-zstd32: ZSTD = $(PRGDIR)/zstd32
+ test-zstd32: zstd32
+ 
+ test-zstd-nolegacy: ZSTD = $(PRGDIR)/zstd-nolegacy
+ test-zstd-nolegacy: zstd-nolegacy
+ 
+-test-zstd test-zstd32 test-zstd-nolegacy: datagen
++test-zstd test-zstd32 test-zstd-nolegacy test-zstd-dll: datagen
+ 	file $(ZSTD)
+ 	EXE_PREFIX="$(QEMU_SYS)" ZSTD_BIN="$(ZSTD)" DATAGEN_BIN=./datagen ./playTests.sh $(ZSTDRTTEST)
+ 
+-- 
+2.39.1
+
diff --git a/package/zstd/zstd.hash b/package/zstd/zstd.hash
index eca44b89f0..ca4e2fa0b9 100644
--- a/package/zstd/zstd.hash
+++ b/package/zstd/zstd.hash
@@ -1,6 +1,6 @@
-# From https://github.com/facebook/zstd/releases/download/v1.5.2/zstd-1.5.2.tar.gz.sha256
-sha256  7c42d56fac126929a6a85dbc73ff1db2411d04f104fae9bdea51305663a83fd0  zstd-1.5.2.tar.gz
+# From https://github.com/facebook/zstd/releases/download/v1.5.4/zstd-1.5.4.tar.gz.sha256
+sha256  0f470992aedad543126d06efab344dc5f3e171893810455787d38347343a4424  zstd-1.5.4.tar.gz
 
 # License files (locally computed)
-sha256  2c1a7fa704df8f3a606f6fc010b8b5aaebf403f3aeec339a12048f1ba7331a0b  LICENSE
+sha256  7055266497633c9025b777c78eb7235af13922117480ed5c674677adc381c9d8  LICENSE
 sha256  f9c375a1be4a41f7b70301dd83c91cb89e41567478859b77eef375a52d782505  COPYING
diff --git a/package/zstd/zstd.mk b/package/zstd/zstd.mk
index 73bb97a793..45e8bf1bc2 100644
--- a/package/zstd/zstd.mk
+++ b/package/zstd/zstd.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-ZSTD_VERSION = 1.5.2
+ZSTD_VERSION = 1.5.4
 ZSTD_SITE = https://github.com/facebook/zstd/releases/download/v$(ZSTD_VERSION)
 ZSTD_INSTALL_STAGING = YES
 ZSTD_LICENSE = BSD-3-Clause or GPL-2.0