diff --git a/utils/docker-compose/Makefile b/utils/docker-compose/Makefile
index 2d8104be5e..0e1a9eea81 100644
--- a/utils/docker-compose/Makefile
+++ b/utils/docker-compose/Makefile
@@ -1,14 +1,14 @@
 include $(TOPDIR)/rules.mk
 
 PKG_NAME:=compose
-PKG_VERSION:=2.37.3
+PKG_VERSION:=2.38.0
 PKG_RELEASE:=1
 PKG_LICENSE:=Apache-2.0
 PKG_LICENSE_FILES:=LICENSE
 
 PKG_SOURCE:=$(PKG_NAME)-v$(PKG_VERSION).tar.gz
 PKG_SOURCE_URL:=https://codeload.github.com/docker/compose/tar.gz/v${PKG_VERSION}?
-PKG_HASH:=b5b21d1886f41cdefe6f4f089503047b60c3f66322b7130636b54f5ccf374441
+PKG_HASH:=4652699ab383b11ea570d9b3387820333263796fc77c66240194dc52d67b7e50
 
 PKG_MAINTAINER:=Javier Marcet <javier@marcet.info>