diff --git a/package/python-psutil/python-psutil.hash b/package/python-psutil/python-psutil.hash
index 02bd2fcd89..a283b1ece2 100644
--- a/package/python-psutil/python-psutil.hash
+++ b/package/python-psutil/python-psutil.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/psutil/json
-md5  99dbbe92985d5e5a3a45574ea521af67  psutil-7.1.3.tar.gz
-sha256  6c86281738d77335af7aec228328e944b30930899ea760ecf33a4dba66be5e74  psutil-7.1.3.tar.gz
+md5  7d3ca5607f6810bec61293ff0845c06f  psutil-7.2.1.tar.gz
+sha256  f7583aec590485b43ca601dd9cea0dcd65bd7bb21d30ef4ddbf4ea6b5ed1bdd3  psutil-7.2.1.tar.gz
 # Locally computed sha256 checksums
 sha256  b89c063b3786e28e0c0a38f1931db61fed35e69dd2a2966fbecffee0f46c8d10  LICENSE
diff --git a/package/python-psutil/python-psutil.mk b/package/python-psutil/python-psutil.mk
index 2e20712f9a..26f19ed8e7 100644
--- a/package/python-psutil/python-psutil.mk
+++ b/package/python-psutil/python-psutil.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_PSUTIL_VERSION = 7.1.3
+PYTHON_PSUTIL_VERSION = 7.2.1
 PYTHON_PSUTIL_SOURCE = psutil-$(PYTHON_PSUTIL_VERSION).tar.gz
-PYTHON_PSUTIL_SITE = https://files.pythonhosted.org/packages/e1/88/bdd0a41e5857d5d703287598cbf08dad90aed56774ea52ae071bae9071b6
+PYTHON_PSUTIL_SITE = https://files.pythonhosted.org/packages/73/cb/09e5184fb5fc0358d110fc3ca7f6b1d033800734d34cac10f4136cfac10e
 PYTHON_PSUTIL_SETUP_TYPE = setuptools
 PYTHON_PSUTIL_LICENSE = BSD-3-Clause
 PYTHON_PSUTIL_LICENSE_FILES = LICENSE