diff --git a/homeassistant/components/elgato/manifest.json b/homeassistant/components/elgato/manifest.json
index 1da98a41211..9a166b86b8e 100644
--- a/homeassistant/components/elgato/manifest.json
+++ b/homeassistant/components/elgato/manifest.json
@@ -3,7 +3,7 @@
   "name": "Elgato Key Light",
   "config_flow": true,
   "documentation": "https://www.home-assistant.io/integrations/elgato",
-  "requirements": ["elgato==1.0.0"],
+  "requirements": ["elgato==2.0.1"],
   "zeroconf": ["_elg._tcp.local."],
   "codeowners": ["@frenck"],
   "quality_scale": "platinum"
diff --git a/requirements_all.txt b/requirements_all.txt
index c31341addb1..7714669102a 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -524,7 +524,7 @@ ecoaliface==0.4.0
 eebrightbox==0.0.4
 
 # homeassistant.components.elgato
-elgato==1.0.0
+elgato==2.0.1
 
 # homeassistant.components.eliqonline
 eliqonline==1.2.2
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 19bb8af0718..248dade5e63 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -279,7 +279,7 @@ dynalite_devices==0.1.46
 eebrightbox==0.0.4
 
 # homeassistant.components.elgato
-elgato==1.0.0
+elgato==2.0.1
 
 # homeassistant.components.elkm1
 elkm1-lib==0.8.10