diff --git a/package/php/php.hash b/package/php/php.hash
index d60164d96f..14576cf506 100644
--- a/package/php/php.hash
+++ b/package/php/php.hash
@@ -1,5 +1,5 @@
 # From https://www.php.net/downloads.php
-sha256  9b859c65f0cf7b3eff9d4a28cfab719fb3d36a1db3c20d874a79b5ec44d43cb8  php-7.4.15.tar.xz
+sha256  1c16cefaf88ded4c92eed6a8a41eb682bb2ef42429deb55f1c4ba159053fb98b  php-7.4.16.tar.xz
 
 # License file
-sha256  0967ad6cf4b7fe81d38709d7aaef3fecb3bd685be7eebb37b864aa34c991baa7  LICENSE
+sha256  a188db807d711536f71e27b7d36879d63480f7994dc18adc08e624b3c5430fff  LICENSE
diff --git a/package/php/php.mk b/package/php/php.mk
index 5ae2467a78..4987f6f3bb 100644
--- a/package/php/php.mk
+++ b/package/php/php.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-PHP_VERSION = 7.4.15
+PHP_VERSION = 7.4.16
 PHP_SITE = http://www.php.net/distributions
 PHP_SOURCE = php-$(PHP_VERSION).tar.xz
 PHP_INSTALL_STAGING = YES