diff --git a/Cargo.lock b/Cargo.lock
index ee78c31645b43..7c784d5a3c541 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2339,9 +2339,9 @@ checksum = "62aca2aba2d62b4a7f5b33f3712cb1b0692779a56fb510499d5c0aa594daeaf3"
 
 [[package]]
 name = "handlebars"
-version = "3.5.3"
+version = "4.1.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cdb0867bbc5a3da37a753e78021d5fcf8a4db00e18dd2dd90fd36e24190e162d"
+checksum = "259c65b04c7f45d8cb793c29dae7e4ed0022a70779f33bc8957950b33fc700d7"
 dependencies = [
  "log",
  "pest",
diff --git a/utils/frame/benchmarking-cli/Cargo.toml b/utils/frame/benchmarking-cli/Cargo.toml
index 51290e5f44ab7..341f69ca7414c 100644
--- a/utils/frame/benchmarking-cli/Cargo.toml
+++ b/utils/frame/benchmarking-cli/Cargo.toml
@@ -27,7 +27,7 @@ codec = { version = "2.0.0", package = "parity-scale-codec" }
 structopt = "0.3.8"
 chrono = "0.4"
 serde = "1.0.116"
-handlebars = "3.5.0"
+handlebars = "4.1.1"
 Inflector = "0.11.4"
 
 [features]