diff --git a/buildroot-external/package/hailo-pci/hailo-pci.hash b/buildroot-external/package/hailo-pci/hailo-pci.hash
index 13e5a59c2..6de428a01 100644
--- a/buildroot-external/package/hailo-pci/hailo-pci.hash
+++ b/buildroot-external/package/hailo-pci/hailo-pci.hash
@@ -1,3 +1,3 @@
 # Locally computed
 sha256  f9c375a1be4a41f7b70301dd83c91cb89e41567478859b77eef375a52d782505  LICENSE
-sha256  0c687d229968ba3092ee214ed45be8ccaedf005f8a2c4fb8f26c439608c960e9  hailo-pci-v4.19.0.tar.gz
+sha256  517683771d4d0c5e23a77d00167c46e633d322c4939adc39babbced97a658a5a  hailo-pci-v4.20.1.tar.gz
diff --git a/buildroot-external/package/hailo-pci/hailo-pci.mk b/buildroot-external/package/hailo-pci/hailo-pci.mk
index 3751e1030..1d390f3de 100644
--- a/buildroot-external/package/hailo-pci/hailo-pci.mk
+++ b/buildroot-external/package/hailo-pci/hailo-pci.mk
@@ -1,4 +1,4 @@
-HAILO_PCI_VERSION = v4.19.0
+HAILO_PCI_VERSION = v4.20.1
 HAILO_PCI_SITE = $(call github,hailo-ai,hailort-drivers,$(HAILO_PCI_VERSION))
 HAILO_PCI_LICENSE = GPL-2.0
 HAILO_PCI_LICENSE_FILES = LICENSE
diff --git a/buildroot-external/package/hailo8-firmware/hailo8-firmware.hash b/buildroot-external/package/hailo8-firmware/hailo8-firmware.hash
index cd4b59a41..fab4db90d 100644
--- a/buildroot-external/package/hailo8-firmware/hailo8-firmware.hash
+++ b/buildroot-external/package/hailo8-firmware/hailo8-firmware.hash
@@ -1 +1 @@
-sha256  160179e523b71aca4c1fabdcbb91e19b167d9c3f0c4d789180f8fc9ee82b4c5c  hailo8_fw.4.19.0.bin
+sha256  32e26fffa11f3909a07340ca3f4714e5f20ce734f497a893b129ef978cde2593  hailo8_fw.4.20.1.bin
diff --git a/buildroot-external/package/hailo8-firmware/hailo8-firmware.mk b/buildroot-external/package/hailo8-firmware/hailo8-firmware.mk
index 872e83ca1..24a206510 100644
--- a/buildroot-external/package/hailo8-firmware/hailo8-firmware.mk
+++ b/buildroot-external/package/hailo8-firmware/hailo8-firmware.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-HAILO8_FIRMWARE_VERSION = 4.19.0
+HAILO8_FIRMWARE_VERSION = 4.20.1
 HAILO8_FIRMWARE_LICENSE = PROPRIETARY
 HAILO8_FIRMWARE_SOURCE= hailo8_fw.$(HAILO8_FIRMWARE_VERSION).bin
 HAILO8_FIRMWARE_SITE="https://hailo-hailort.s3.eu-west-2.amazonaws.com/Hailo8/$(HAILO8_FIRMWARE_VERSION)/FW"