diff --git a/deps/v8/build/standalone.gypi b/deps/v8/build/standalone.gypi
index 6c88409dbee892..a9123cbae0343c 100644
--- a/deps/v8/build/standalone.gypi
+++ b/deps/v8/build/standalone.gypi
@@ -33,6 +33,7 @@
   'includes': ['toolchain.gypi'],
   'variables': {
     'component%': 'static_library',
+    'force_dynamic_crt%': 0,
     'clang_xcode%': 0,
     # Track where uninitialized memory originates from. From fastest to
     # slowest: 0 - no tracking, 1 - track only the initial allocation site, 2
diff --git a/deps/v8/build/toolchain.gypi b/deps/v8/build/toolchain.gypi
index 519779edb4f503..faecf8e43d5168 100644
--- a/deps/v8/build/toolchain.gypi
+++ b/deps/v8/build/toolchain.gypi
@@ -39,7 +39,6 @@
     'ubsan_vptr%': 0,
     'v8_target_arch%': '<(target_arch)',
     'v8_host_byteorder%': '<!(python -c "import sys; print sys.byteorder")',
-    'force_dynamic_crt%': 0,
     # Native Client builds currently use the V8 ARM JIT and
     # arm/simulator-arm.cc to defer the significant effort required
     # for NaCl JIT support. The nacl_target_arch variable provides
diff --git a/deps/v8/include/v8-version.h b/deps/v8/include/v8-version.h
index 32ead433947211..4723fe3b9d4a98 100644
--- a/deps/v8/include/v8-version.h
+++ b/deps/v8/include/v8-version.h
@@ -11,7 +11,7 @@
 #define V8_MAJOR_VERSION 5
 #define V8_MINOR_VERSION 1
 #define V8_BUILD_NUMBER 281
-#define V8_PATCH_LEVEL 87
+#define V8_PATCH_LEVEL 88
 
 // Use 1 for candidates and 0 otherwise.
 // (Boolean macro values are not supported by all preprocessors.)