diff --git a/Cargo.lock b/Cargo.lock
index 729e0397748f1..74b99b5684db9 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2275,9 +2275,9 @@ checksum = "62aca2aba2d62b4a7f5b33f3712cb1b0692779a56fb510499d5c0aa594daeaf3"
 
 [[package]]
 name = "handlebars"
-version = "3.5.2"
+version = "4.2.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "964d0e99a61fe9b1b347389b77ebf8b7e1587b70293676aaca7d27e59b9073b2"
+checksum = "25546a65e5cf1f471f3438796fc634650b31d7fcde01d444c309aeb28b92e3a8"
 dependencies = [
  "log",
  "pest",
diff --git a/utils/frame/benchmarking-cli/Cargo.toml b/utils/frame/benchmarking-cli/Cargo.toml
index 51290e5f44ab7..2159f6ce64774 100644
--- a/utils/frame/benchmarking-cli/Cargo.toml
+++ b/utils/frame/benchmarking-cli/Cargo.toml
@@ -27,7 +27,7 @@ codec = { version = "2.0.0", package = "parity-scale-codec" }
 structopt = "0.3.8"
 chrono = "0.4"
 serde = "1.0.116"
-handlebars = "3.5.0"
+handlebars = "4.2.1"
 Inflector = "0.11.4"
 
 [features]