diff --git a/package/protobuf/protobuf.hash b/package/protobuf/protobuf.hash
index 7211fa7c87..fe1084b640 100644
--- a/package/protobuf/protobuf.hash
+++ b/package/protobuf/protobuf.hash
@@ -1,3 +1,3 @@
 # Locally calculated
 sha256  6e5e117324afd944dcf67f36cf329843bc1a92229a8cd9bb573d7a83130fea7d  LICENSE
-sha256  c6c7c27fadc19d40ab2eaa23ff35debfe01f6494a8345559b9bb285ce4144dd1  protobuf-33.5.tar.gz
+sha256  e540aae70d3b4f758846588768c9e39090fab880bc3233a1f42a8ab8d3781efd  protobuf-34.0.tar.gz
diff --git a/package/protobuf/protobuf.mk b/package/protobuf/protobuf.mk
index b2046e057b..1d110fdbf0 100644
--- a/package/protobuf/protobuf.mk
+++ b/package/protobuf/protobuf.mk
@@ -7,7 +7,7 @@
 # When bumping this package, make sure to also verify if the
 # python-protobuf package still works and to update its hash,
 # as they share the same version/site variables.
-PROTOBUF_VERSION = 33.5
+PROTOBUF_VERSION = 34.0
 PROTOBUF_SITE = https://github.com/protocolbuffers/protobuf/releases/download/v$(PROTOBUF_VERSION)
 PROTOBUF_LICENSE = BSD-3-Clause
 PROTOBUF_LICENSE_FILES = LICENSE
diff --git a/package/python-protobuf/python-protobuf.hash b/package/python-protobuf/python-protobuf.hash
index 1141edf396..1d84f02292 100644
--- a/package/python-protobuf/python-protobuf.hash
+++ b/package/python-protobuf/python-protobuf.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/protobuf/json
-md5  5d9230257cd63f6f94ca3a7303b22413  protobuf-6.33.5.tar.gz
-sha256  6ddcac2a081f8b7b9642c09406bc6a4290128fce5f471cddd165960bb9119e5c  protobuf-6.33.5.tar.gz
+md5  f8ad7dac46884ad2ac3929eecfcafb0a  protobuf-7.34.0.tar.gz
+sha256  3871a3df67c710aaf7bb8d214cc997342e63ceebd940c8c7fc65c9b3d697591a  protobuf-7.34.0.tar.gz
 # Locally computed sha256 checksums
 sha256  6e5e117324afd944dcf67f36cf329843bc1a92229a8cd9bb573d7a83130fea7d  LICENSE
diff --git a/package/python-protobuf/python-protobuf.mk b/package/python-protobuf/python-protobuf.mk
index 167b94a646..84a6c3a8a6 100644
--- a/package/python-protobuf/python-protobuf.mk
+++ b/package/python-protobuf/python-protobuf.mk
@@ -5,8 +5,8 @@
 ################################################################################
 
 PYTHON_PROTOBUF_VERSION = $(PROTOBUF_VERSION)
-PYTHON_PROTOBUF_SOURCE = protobuf-6.$(PYTHON_PROTOBUF_VERSION).tar.gz
-PYTHON_PROTOBUF_SITE = https://files.pythonhosted.org/packages/ba/25/7c72c307aafc96fa87062aa6291d9f7c94836e43214d43722e86037aac02
+PYTHON_PROTOBUF_SOURCE = protobuf-7.$(PYTHON_PROTOBUF_VERSION).tar.gz
+PYTHON_PROTOBUF_SITE = https://files.pythonhosted.org/packages/f2/00/04a2ab36b70a52d0356852979e08b44edde0435f2115dc66e25f2100f3ab
 
 PYTHON_PROTOBUF_LICENSE = BSD-3-Clause
 PYTHON_PROTOBUF_LICENSE_FILES = LICENSE