diff --git a/package/python-alembic/python-alembic.hash b/package/python-alembic/python-alembic.hash
index c84c46c84c..df1f4fba02 100644
--- a/package/python-alembic/python-alembic.hash
+++ b/package/python-alembic/python-alembic.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/alembic/json
-md5  de9d9f92a49a5e3ae5a978018927f474  alembic-1.10.2.tar.gz
-sha256  457eafbdc0769d855c2c92cbafe6b7f319f916c80cf4ed02b8f394f38b51b89d  alembic-1.10.2.tar.gz
+md5  642d563af853b317f018026f3edd5dba  alembic-1.12.1.tar.gz
+sha256  bca5877e9678b454706347bc10b97cb7d67f300320fa5c3a94423e8266e2823f  alembic-1.12.1.tar.gz
 # Locally computed sha256 checksums
 sha256  b285268a86f4416eaf4d05b2ae3880c156f7c59a8f935a402bc056eafb33af08  LICENSE
diff --git a/package/python-alembic/python-alembic.mk b/package/python-alembic/python-alembic.mk
index 4f605b8f60..fd41e0df66 100644
--- a/package/python-alembic/python-alembic.mk
+++ b/package/python-alembic/python-alembic.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_ALEMBIC_VERSION = 1.10.2
+PYTHON_ALEMBIC_VERSION = 1.12.1
 PYTHON_ALEMBIC_SOURCE = alembic-$(PYTHON_ALEMBIC_VERSION).tar.gz
-PYTHON_ALEMBIC_SITE = https://files.pythonhosted.org/packages/d6/02/66ed327f944f3f85423096c438d7d290da5af21a7aecf9e5b9f09d9e34b2
+PYTHON_ALEMBIC_SITE = https://files.pythonhosted.org/packages/44/b4/253fe31261d9f5d603d89bd9e6fba1625494a6d761d319902dfe4db59016
 PYTHON_ALEMBIC_SETUP_TYPE = setuptools
 PYTHON_ALEMBIC_LICENSE = MIT
 PYTHON_ALEMBIC_LICENSE_FILES = LICENSE