diff --git a/Cargo.lock b/Cargo.lock
index d8eceef351a1..08515f0f4a6e 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -3270,9 +3270,9 @@ checksum = "d36fab90f82edc3c747f9d438e06cf0a491055896f2a279638bb5beed6c40177"
 
 [[package]]
 name = "handlebars"
-version = "3.5.2"
+version = "4.2.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "964d0e99a61fe9b1b347389b77ebf8b7e1587b70293676aaca7d27e59b9073b2"
+checksum = "25546a65e5cf1f471f3438796fc634650b31d7fcde01d444c309aeb28b92e3a8"
 dependencies = [
  "log",
  "pest",
diff --git a/language/diem-tools/writeset-transaction-generator/Cargo.toml b/language/diem-tools/writeset-transaction-generator/Cargo.toml
index 68f8d7cfca94..96ef81c85823 100644
--- a/language/diem-tools/writeset-transaction-generator/Cargo.toml
+++ b/language/diem-tools/writeset-transaction-generator/Cargo.toml
@@ -15,7 +15,7 @@ edition = "2018"
 anyhow = "1.0.38"
 structopt = "0.3.21"
 tempfile = "3.2.0"
-handlebars = "3.5.2"
+handlebars = "4.2.1"
 serde = { version = "1.0.120", default-features = false }
 serde_json = "1.0.61"
 once_cell = "1.4.1"
diff --git a/language/move-prover/Cargo.toml b/language/move-prover/Cargo.toml
index 6cc1c796e1f0..8fd7a2e2c12f 100644
--- a/language/move-prover/Cargo.toml
+++ b/language/move-prover/Cargo.toml
@@ -29,7 +29,7 @@ clap = "2.33.3"
 codespan = "0.8.0"
 codespan-reporting = "0.8.0"
 futures = "0.3.12"
-handlebars = "3.5.2"
+handlebars = "4.2.1"
 hex = "0.4.2"
 itertools = "0.10.0"
 log = "0.4.13"