diff --git a/libs/libwebp/Makefile b/libs/libwebp/Makefile
index a3f075558be214..58dc70ac247fb9 100644
--- a/libs/libwebp/Makefile
+++ b/libs/libwebp/Makefile
@@ -1,12 +1,12 @@
 include $(TOPDIR)/rules.mk
 
 PKG_NAME:=libwebp
-PKG_VERSION:=1.4.0
+PKG_VERSION:=1.5.0
 PKG_RELEASE:=1
 
 PKG_SOURCE:=$(PKG_NAME)-$(PKG_VERSION).tar.gz
 PKG_SOURCE_URL:=https://storage.googleapis.com/downloads.webmproject.org/releases/webp
-PKG_HASH:=61f873ec69e3be1b99535634340d5bde750b2e4447caa1db9f61be3fd49ab1e5
+PKG_HASH:=7d6fab70cf844bf6769077bd5d7a74893f8ffd4dfb42861745750c63c2a5c92c
 
 PKG_MAINTAINER:=Alexandru Ardelean <ardeleanalex@gmail.com>
 PKG_LICENSE:=BSD-3-Clause