diff --git a/tools/mtools/Makefile b/tools/mtools/Makefile
index b7fdcb388d..5e3c950ba3 100644
--- a/tools/mtools/Makefile
+++ b/tools/mtools/Makefile
@@ -7,11 +7,11 @@
 include $(TOPDIR)/rules.mk
 
 PKG_NAME:=mtools
-PKG_VERSION:=4.0.24
+PKG_VERSION:=4.0.35
 
 PKG_SOURCE:=$(PKG_NAME)-$(PKG_VERSION).tar.bz2
 PKG_SOURCE_URL:=@GNU/$(PKG_NAME)
-PKG_HASH:=24f4a2da9219f98498eb1b340cd96db7ef9b684c067d1bdeb6e85efdd13b2fb9
+PKG_HASH:=34769e173751d2f0d891a08c76c80427e929b8ee43438019b8666cc3d7a44749
 
 HOST_BUILD_PARALLEL:=1