diff --git a/pyproject.toml b/pyproject.toml
index b2732627..e10b2dff 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -59,7 +59,7 @@ dependencies = [
     "setuptools>=70.3.0",
     "substrate-interface==1.7.4",
     "types-aiofiles==23.2.0.20240403",
-    "ujson==5.1.0",  # required by aiocache
+    "ujson==5.4.0",  # required by aiocache
     "urllib3==2.0.7",
     "uvloop==0.19.0",
     "web3==6.11.2",