diff --git a/package/php-memcached/php-memcached.hash b/package/php-memcached/php-memcached.hash
index 162d25f795..08a90f13b4 100644
--- a/package/php-memcached/php-memcached.hash
+++ b/package/php-memcached/php-memcached.hash
@@ -1,5 +1,5 @@
 # Locally calculated
-sha256  2a41143a7b29f4a962a3805b77aa207a99e4566e2d314ce98a051cd24d6e9636  memcached-3.2.0.tgz
+sha256  c163434eb0da97c8f45c7ad41d979d381f8b81c49402b1b90b063987fb37972e  memcached-3.4.0.tgz
 sha256  24e8e3a9529204ead9422fa17cf3ddd75d292a8763b87fdb20591964f2e6ebe0  LICENSE
 sha256  a453a7a272fbd24105b39959f76996d50dad80b22d1c310f6c67f74f62ae4054  fastlz/LICENSE
 sha256  bba8cb50c660842c5ca459c5004395bdef8f01c1b64f97a9978f1053f173cb82  g_fmt.h
diff --git a/package/php-memcached/php-memcached.mk b/package/php-memcached/php-memcached.mk
index f92a8ddf4c..e45390e5a2 100644
--- a/package/php-memcached/php-memcached.mk
+++ b/package/php-memcached/php-memcached.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-PHP_MEMCACHED_VERSION = 3.2.0
+PHP_MEMCACHED_VERSION = 3.4.0
 PHP_MEMCACHED_SOURCE = memcached-$(PHP_MEMCACHED_VERSION).tgz
 PHP_MEMCACHED_SITE = https://pecl.php.net/get
 PHP_MEMCACHED_CONF_OPTS = --with-php-config=$(STAGING_DIR)/usr/bin/php-config \