diff --git a/package/valgrind/valgrind.mk b/package/valgrind/valgrind.mk
index 2b1c4a362f..d4083e2c4e 100644
--- a/package/valgrind/valgrind.mk
+++ b/package/valgrind/valgrind.mk
@@ -4,7 +4,7 @@
 #
 #############################################################
 
-VALGRIND_VERSION=3.2.1
+VALGRIND_VERSION=3.2.3
 VALGRIND_SITE:=http://valgrind.org/downloads/
 VALGRIND_DIR:=$(BUILD_DIR)/valgrind-$(VALGRIND_VERSION)
 VALGRIND_SOURCE:=valgrind-$(VALGRIND_VERSION).tar.bz2