diff --git a/package/freescale-imx/imx-lib/imx-lib.hash b/package/freescale-imx/imx-lib/imx-lib.hash
index 8e4bd73eee..76dcb23f6f 100644
--- a/package/freescale-imx/imx-lib/imx-lib.hash
+++ b/package/freescale-imx/imx-lib/imx-lib.hash
@@ -1,2 +1,2 @@
 # locally computed
-sha256 2b4547ffb1de328cf8997a09a423c6f015d808493efd11a98a5d42c6497e3445  imx-lib-5.1.tar.gz
+sha256 8d12c4a0a44d29569f1ead3a36adc28402b9c4036b53e11dd3ebf2295e3ce1d0  imx-lib-5.4.tar.gz
diff --git a/package/freescale-imx/imx-lib/imx-lib.mk b/package/freescale-imx/imx-lib/imx-lib.mk
index b49357bd98..d3603ca919 100644
--- a/package/freescale-imx/imx-lib/imx-lib.mk
+++ b/package/freescale-imx/imx-lib/imx-lib.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-IMX_LIB_VERSION = 5.1
+IMX_LIB_VERSION = 5.4
 IMX_LIB_SITE = $(FREESCALE_IMX_SITE)
 IMX_LIB_LICENSE = LGPLv2.1+
 IMX_LIB_LICENSE_FILES = COPYING-LGPL-2.1