diff --git a/Cargo.lock b/Cargo.lock
index e4e3e1b84625c..41bfd053cc233 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1109,18 +1109,18 @@ checksum = "dcb25d077389e53838a8158c8e99174c5a9d902dee4904320db714f3c653ffba"
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "52056f6d0584484b57fa6c1a65c1fcb15f3780d8b6a758426d9e3084169b2ddd"
+checksum = "593b398dd0c5b1e2e3a9c3dae8584e287894ea84e361949ad506376e99196265"
 dependencies = [
  "cranelift-entity",
 ]
 
 [[package]]
 name = "cranelift-codegen"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "18fed94c8770dc25d01154c3ffa64ed0b3ba9d583736f305fed7beebe5d9cf74"
+checksum = "afc0d8faabd099ea15ab33d49d150e5572c04cfeb95d675fd41286739b754629"
 dependencies = [
  "arrayvec 0.7.2",
  "bumpalo",
@@ -1138,33 +1138,33 @@ dependencies = [
 
 [[package]]
 name = "cranelift-codegen-meta"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1c451b81faf237d11c7e4f3165eeb6bac61112762c5cfe7b4c0fb7241474358f"
+checksum = "1ac1669e42579476f001571d6ba4b825fac686282c97b88b18f8e34242066a81"
 dependencies = [
  "cranelift-codegen-shared",
 ]
 
 [[package]]
 name = "cranelift-codegen-shared"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e7c940133198426d26128f08be2b40b0bd117b84771fd36798969c4d712d81fc"
+checksum = "e2a1b1eef9640ab72c1e7b583ac678083855a509da34b4b4378bd99954127c20"
 
 [[package]]
 name = "cranelift-entity"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "87a0f1b2fdc18776956370cf8d9b009ded3f855350c480c1c52142510961f352"
+checksum = "eea4e17c3791fd8134640b26242a9ddbd7c67db78f0bad98cb778bf563ef81a0"
 dependencies = [
  "serde",
 ]
 
 [[package]]
 name = "cranelift-frontend"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "34897538b36b216cc8dd324e73263596d51b8cf610da6498322838b2546baf8a"
+checksum = "fca1474b5302348799656d43a40eacd716a3b46169405a3af812832c9edf77b4"
 dependencies = [
  "cranelift-codegen",
  "log",
@@ -1174,15 +1174,15 @@ dependencies = [
 
 [[package]]
 name = "cranelift-isle"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1b2629a569fae540f16a76b70afcc87ad7decb38dc28fa6c648ac73b51e78470"
+checksum = "77aa537f020ea43483100153278e7215d41695bdcef9eea6642d122675f64249"
 
 [[package]]
 name = "cranelift-native"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "20937dab4e14d3e225c5adfc9c7106bafd4ac669bdb43027b911ff794c6fb318"
+checksum = "8bdc6b65241a95b7d8eafbf4e114c082e49b80162a2dcd9c6bcc5989c3310c9e"
 dependencies = [
  "cranelift-codegen",
  "libc",
@@ -1191,9 +1191,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-wasm"
-version = "0.88.2"
+version = "0.89.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "80fc2288957a94fd342a015811479de1837850924166d1f1856d8406e6f3609b"
+checksum = "4eb6359f606a1c80ccaa04fae9dbbb504615ec7a49b6c212b341080fff7a65dd"
 dependencies = [
  "cranelift-codegen",
  "cranelift-entity",
@@ -7475,9 +7475,9 @@ dependencies = [
 
 [[package]]
 name = "regalloc2"
-version = "0.3.2"
+version = "0.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d43a209257d978ef079f3d446331d0f1794f5e0fc19b306a199983857833a779"
+checksum = "91b2eab54204ea0117fe9a060537e0b07a4e72f7c7d182361ecc346cab2240e5"
 dependencies = [
  "fxhash",
  "log",
@@ -11844,9 +11844,9 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.89.1"
+version = "0.92.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ab5d3e08b13876f96dd55608d03cd4883a0545884932d5adf11925876c96daef"
+checksum = "7da34cec2a8c23db906cdf8b26e988d7a7f0d549eb5d51299129647af61a1b37"
 dependencies = [
  "indexmap",
 ]
@@ -11862,9 +11862,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4ad5af6ba38311282f2a21670d96e78266e8c8e2f38cbcd52c254df6ccbc7731"
+checksum = "743d37c265fa134a76de653c7e66be22590eaccd03da13cee99f3ac7a59cb826"
 dependencies = [
  "anyhow",
  "bincode",
@@ -11890,18 +11890,18 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-asm-macros"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "45de63ddfc8b9223d1adc8f7b2ee5f35d1f6d112833934ad7ea66e4f4339e597"
+checksum = "de327cf46d5218315957138131ed904621e6f99018aa2da508c0dcf0c65f1bf2"
 dependencies = [
  "cfg-if",
 ]
 
 [[package]]
 name = "wasmtime-cache"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bcd849399d17d2270141cfe47fa0d91ee52d5f8ea9b98cf7ddde0d53e5f79882"
+checksum = "42bd53d27df1076100519b680b45d8209aed62b4bbaf0913732810cb216f7b2b"
 dependencies = [
  "anyhow",
  "base64",
@@ -11919,9 +11919,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-cranelift"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4bd91339b742ff20bfed4532a27b73c86b5bcbfedd6bea2dcdf2d64471e1b5c6"
+checksum = "017c3605ccce867b3ba7f71d95e5652acc22b9dc2971ad6a6f9df4a8d7af2648"
 dependencies = [
  "anyhow",
  "cranelift-codegen",
@@ -11940,9 +11940,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-environ"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ebb881c61f4f627b5d45c54e629724974f8a8890d455bcbe634330cc27309644"
+checksum = "6aec5c1f81aab9bb35997113c171b6bb9093afc90e3757c55e0c08dc9ac612e4"
 dependencies = [
  "anyhow",
  "cranelift-entity",
@@ -11959,9 +11959,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1985c628011fe26adf5e23a5301bdc79b245e0e338f14bb58b39e4e25e4d8681"
+checksum = "08c683893dbba3986aa71582a5332b87157fb95d34098de2e5f077c7f078726d"
 dependencies = [
  "addr2line 0.17.0",
  "anyhow",
@@ -11984,9 +11984,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit-debug"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f671b588486f5ccec8c5a3dba6b4c07eac2e66ab8c60e6f4e53717c77f709731"
+checksum = "b2f8f15a81292eec468c79a4f887a37a3d02eb0c610f34ddbec607d3e9022f18"
 dependencies = [
  "object 0.29.0",
  "once_cell",
@@ -11995,9 +11995,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-runtime"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ee8f92ad4b61736339c29361da85769ebc200f184361959d1792832e592a1afd"
+checksum = "09af6238c962e8220424c815a7b1a9a6d0ba0694f0ab0ae12a6cda1923935a0d"
 dependencies = [
  "anyhow",
  "cc",
@@ -12020,9 +12020,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-types"
-version = "1.0.2"
+version = "2.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d23d61cb4c46e837b431196dd06abb11731541021916d03476a178b54dc07aeb"
+checksum = "5dc3dd9521815984b35d6362f79e6b9c72475027cd1c71c44eb8df8fbf33a9fb"
 dependencies = [
  "cranelift-entity",
  "serde",
diff --git a/client/executor/wasmtime/Cargo.toml b/client/executor/wasmtime/Cargo.toml
index 7e38929f05a13..361b5d58b6729 100644
--- a/client/executor/wasmtime/Cargo.toml
+++ b/client/executor/wasmtime/Cargo.toml
@@ -19,7 +19,7 @@ log = "0.4.17"
 
 # When bumping wasmtime do not forget to also bump rustix
 # to exactly the same version as used by wasmtime!
-wasmtime = { version = "1.0.0", default-features = false, features = [
+wasmtime = { version = "2.0.2", default-features = false, features = [
 	"cache",
 	"cranelift",
 	"jitdump",
diff --git a/primitives/wasm-interface/Cargo.toml b/primitives/wasm-interface/Cargo.toml
index 1822ae43edb68..71f38638d0539 100644
--- a/primitives/wasm-interface/Cargo.toml
+++ b/primitives/wasm-interface/Cargo.toml
@@ -18,7 +18,7 @@ codec = { package = "parity-scale-codec", version = "3.0.0", default-features =
 impl-trait-for-tuples = "0.2.2"
 log = { version = "0.4.17", optional = true }
 wasmi = { version = "0.13", optional = true }
-wasmtime = { version = "1.0.0", default-features = false, optional = true }
+wasmtime = { version = "2.0.2", default-features = false, optional = true }
 sp-std = { version = "5.0.0", default-features = false, path = "../std" }
 
 [features]