diff --git a/package/python-socketio/Config.in b/package/python-socketio/Config.in
index 096e75a623..89d23b6ddf 100644
--- a/package/python-socketio/Config.in
+++ b/package/python-socketio/Config.in
@@ -1,7 +1,7 @@
 config BR2_PACKAGE_PYTHON_SOCKETIO
 	bool "python-socketio"
 	depends on BR2_PACKAGE_PYTHON3
-	select BR2_PACKAGE_PYTHON_SIX # runtime
+	select BR2_PACKAGE_PYTHON_BIDICT # runtime
 	select BR2_PACKAGE_PYTHON_ENGINEIO # runtime
 	help
 	  Socket.IO server.
diff --git a/package/python-socketio/python-socketio.hash b/package/python-socketio/python-socketio.hash
index d0d8a87dcf..40e74cef96 100644
--- a/package/python-socketio/python-socketio.hash
+++ b/package/python-socketio/python-socketio.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/python-socketio/json
-md5	86cd47dddea1785ce7a6c72f55c93fe7  python-socketio-4.3.1.tar.gz
-sha256	506b2cf7a520b40ea0b3f25e1272eff8de134dce6f471c1f6bc0de8c90fe8c57  python-socketio-4.3.1.tar.gz
+md5  0507825ca4bd6527cbaed81ec5767bfe  python-socketio-5.4.0.tar.gz
+sha256  ca807c9e1f168e96dea412d64dd834fb47c470d27fd83da0504aa4b248ba2544  python-socketio-5.4.0.tar.gz
 # Locally computed sha256 checksums
-sha256	c9e97d3dbc1fbbcdb4f7808b282cd646db887aff4f5313fe6bbe8d4c31405a9c  LICENSE
+sha256  c9e97d3dbc1fbbcdb4f7808b282cd646db887aff4f5313fe6bbe8d4c31405a9c  LICENSE
diff --git a/package/python-socketio/python-socketio.mk b/package/python-socketio/python-socketio.mk
index 73dab26f3c..f23342b776 100644
--- a/package/python-socketio/python-socketio.mk
+++ b/package/python-socketio/python-socketio.mk
@@ -4,20 +4,10 @@
 #
 ################################################################################
 
-PYTHON_SOCKETIO_VERSION = 4.3.1
-PYTHON_SOCKETIO_SITE = https://files.pythonhosted.org/packages/36/87/e9128a4da04df991fbdb01f44dc4d6dd8f6c03bfd4d1f42dcd6779fd975a
+PYTHON_SOCKETIO_VERSION = 5.4.0
+PYTHON_SOCKETIO_SITE = https://files.pythonhosted.org/packages/72/70/9b992f4b8adfcbf0724c079c18629d83f20b36fb0eb64d4fdf874054becf
 PYTHON_SOCKETIO_SETUP_TYPE = setuptools
 PYTHON_SOCKETIO_LICENSE = MIT
 PYTHON_SOCKETIO_LICENSE_FILES = LICENSE
 
-ifeq ($(BR2_PACKAGE_PYTHON),y)
-# only needed/valid for python 3.x
-define PYTHON_SOCKETIO_RM_PY3_FILES
-	rm -f $(TARGET_DIR)/usr/lib/python*/site-packages/socketio/asgi.py \
-		$(TARGET_DIR)/usr/lib/python*/site-packages/socketio/asyncio_*.py
-endef
-
-PYTHON_SOCKETIO_POST_INSTALL_TARGET_HOOKS += PYTHON_SOCKETIO_RM_PY3_FILES
-endif
-
 $(eval $(python-package))