diff --git a/package/python-fonttools/python-fonttools.hash b/package/python-fonttools/python-fonttools.hash
index 58603f79a4..4b4751dc82 100644
--- a/package/python-fonttools/python-fonttools.hash
+++ b/package/python-fonttools/python-fonttools.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/fonttools/json
-md5  6cad81799e0491751cda0a98642b00eb  fonttools-4.37.3.zip
-sha256  f32ef6ec966cf0e7d2aa88601fed2e3a8f2851c26b5db2c80ccc8f82bee4eedc  fonttools-4.37.3.zip
+md5  f4775967d29b0da2f29ba499eed34f88  fonttools-4.38.0.zip
+sha256  2bb244009f9bf3fa100fc3ead6aeb99febe5985fa20afbfbaa2f8946c2fbdaf1  fonttools-4.38.0.zip
 # Locally computed sha256 checksums
 sha256  6787208f83f659ccbc2223b2fde952ffa6f7e8aca62f1a8a2bf5bc51bb1b2383  LICENSE
diff --git a/package/python-fonttools/python-fonttools.mk b/package/python-fonttools/python-fonttools.mk
index aad1765899..d31d3a2889 100644
--- a/package/python-fonttools/python-fonttools.mk
+++ b/package/python-fonttools/python-fonttools.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_FONTTOOLS_VERSION = 4.37.3
+PYTHON_FONTTOOLS_VERSION = 4.38.0
 PYTHON_FONTTOOLS_SOURCE = fonttools-$(PYTHON_FONTTOOLS_VERSION).zip
-PYTHON_FONTTOOLS_SITE = https://files.pythonhosted.org/packages/c1/0d/d41b9c2295e1896f4c89e6b213790eee8e8e641b3e9709518f2bddcdeffa
+PYTHON_FONTTOOLS_SITE = https://files.pythonhosted.org/packages/55/5c/a4a25cf6db42d113d8f626901bb156b2f7cf7c7564a6bbc7b5cd6f7cb484
 PYTHON_FONTTOOLS_SETUP_TYPE = setuptools
 PYTHON_FONTTOOLS_LICENSE = MIT
 PYTHON_FONTTOOLS_LICENSE_FILES = LICENSE