diff --git a/Cargo.lock b/Cargo.lock
index 0b7ea71a5365d5bbccbb4aa5cedd24b7354ba148..7eaf3e44a1b6bd65d2ee859064e87c7280081b33 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -6256,9 +6256,9 @@ checksum = "eabb4a44450da02c90444cf74558da904edde8fb4e9035a9a6a4e15445af0bd7"
 
 [[package]]
 name = "handlebars"
-version = "4.3.7"
+version = "5.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "83c3372087601b532857d332f5957cbae686da52bb7810bf038c3e3c3cc2fa0d"
+checksum = "ab283476b99e66691dee3f1640fea91487a8d81f50fb5ecc75538f8f8879a1e4"
 dependencies = [
  "log",
  "pest",
diff --git a/substrate/utils/frame/benchmarking-cli/Cargo.toml b/substrate/utils/frame/benchmarking-cli/Cargo.toml
index a2db83052c54508b14e37805cbb4b004542c6f30..a25ab3a8f5b159f600cdc088365ca8f970aa6a7f 100644
--- a/substrate/utils/frame/benchmarking-cli/Cargo.toml
+++ b/substrate/utils/frame/benchmarking-cli/Cargo.toml
@@ -21,7 +21,7 @@ chrono = "0.4"
 clap = { version = "4.5.1", features = ["derive"] }
 codec = { package = "parity-scale-codec", version = "3.6.1" }
 comfy-table = { version = "7.1.0", default-features = false }
-handlebars = "4.2.2"
+handlebars = "5.1.0"
 Inflector = "0.11.4"
 itertools = "0.10.3"
 lazy_static = "1.4.0"