diff --git a/Makefile b/Makefile
index 1cff5c58a..a518eb91d 100644
--- a/Makefile
+++ b/Makefile
@@ -17,7 +17,7 @@ KUBECTL_VERSION := v1.28.3
 KUSTOMIZE_VERSION := v5.2.1
 OPERATOR_SDK_VERSION := v1.31.0
 PIPENV_VERSION := 2023.11.15
-YQ_VERSION := v4.35.2
+YQ_VERSION := v4.40.2
 
 # We don't vendor modules. Enforce that behavior
 export GOFLAGS := -mod=readonly