diff --git a/package/devel/binutils/Makefile b/package/devel/binutils/Makefile
index 522a971051d..75fdd320cdb 100644
--- a/package/devel/binutils/Makefile
+++ b/package/devel/binutils/Makefile
@@ -8,13 +8,13 @@
 include $(TOPDIR)/rules.mk
 
 PKG_NAME:=binutils
-PKG_VERSION:=2.37
-PKG_RELEASE:=2
+PKG_VERSION:=2.38
+PKG_RELEASE:=1
 
 PKG_SOURCE_URL:=@GNU/binutils
 PKG_SOURCE:=$(PKG_NAME)-$(PKG_VERSION).tar.xz
 PKG_VERSION:=$(PKG_VERSION)
-PKG_HASH:=820d9724f020a3e69cb337893a0b63c2db161dadcb0e06fc11dc29eb1e84a32c
+PKG_HASH:=e316477a914f567eccc34d5d29785b8b0f5a10208d36bbacedcc39048ecfe024
 
 PKG_FIXUP:=patch-libtool
 PKG_LIBTOOL_PATHS:=. gas bfd opcodes gprof binutils ld libiberty gold intl