diff --git a/package/python-async-timeout/python-async-timeout.hash b/package/python-async-timeout/python-async-timeout.hash
index 68cdbc3ca8..451c07de5d 100644
--- a/package/python-async-timeout/python-async-timeout.hash
+++ b/package/python-async-timeout/python-async-timeout.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/async-timeout/json
-md5  1507a6758b30c673d01ac9db6beec95e  async_timeout-5.0.0.tar.gz
-sha256  49675ec889daacfe65ff66d2dde7dd1447a6f4b2f23721022e4ba121f8772a85  async_timeout-5.0.0.tar.gz
+md5  566a39011e87cb8044ee75369e69b327  async_timeout-5.0.1.tar.gz
+sha256  d9321a7a3d5a6a5e187e824d2fa0793ce379a202935782d555d6e9d2735677d3  async_timeout-5.0.1.tar.gz
 # Locally computed sha256 checksums
 sha256  e18d7bb8f513e2c46bb585c94b585bd30720dd3ccb21ddb0786f72d16658f92c  LICENSE
diff --git a/package/python-async-timeout/python-async-timeout.mk b/package/python-async-timeout/python-async-timeout.mk
index eda75c4277..2835368003 100644
--- a/package/python-async-timeout/python-async-timeout.mk
+++ b/package/python-async-timeout/python-async-timeout.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_ASYNC_TIMEOUT_VERSION = 5.0.0
+PYTHON_ASYNC_TIMEOUT_VERSION = 5.0.1
 PYTHON_ASYNC_TIMEOUT_SOURCE = async_timeout-$(PYTHON_ASYNC_TIMEOUT_VERSION).tar.gz
-PYTHON_ASYNC_TIMEOUT_SITE = https://files.pythonhosted.org/packages/61/1f/44d9efc904bbe4d9967433522b691a9c4f1e81c2c64fbe44bad63d5de646
+PYTHON_ASYNC_TIMEOUT_SITE = https://files.pythonhosted.org/packages/a5/ae/136395dfbfe00dfc94da3f3e136d0b13f394cba8f4841120e34226265780
 PYTHON_ASYNC_TIMEOUT_LICENSE = Apache-2.0
 PYTHON_ASYNC_TIMEOUT_LICENSE_FILES = LICENSE
 PYTHON_ASYNC_TIMEOUT_SETUP_TYPE = setuptools