diff --git a/assets/package-lock.json b/assets/package-lock.json
index 8cd24712ef62..0e4cdcd9f3b5 100644
--- a/assets/package-lock.json
+++ b/assets/package-lock.json
@@ -11,7 +11,7 @@
         "assert": "^2.0.0",
         "crypto-js": "^4.0.0",
         "hyperlist": "^1.0.0",
-        "monaco-editor": "^0.29.1",
+        "monaco-editor": "^0.31.1",
         "morphdom": "^2.6.1",
         "phoenix": "file:../deps/phoenix",
         "phoenix_html": "file:../deps/phoenix_html",
@@ -45,7 +45,7 @@
         "html-loader": "^3.0.1",
         "jest": "^27.3.0",
         "mini-css-extract-plugin": "^2.1.0",
-        "monaco-editor-webpack-plugin": "^5.0.0",
+        "monaco-editor-webpack-plugin": "^7.0.1",
         "postcss": "^8.2.3",
         "postcss-import": "^14.0.0",
         "postcss-loader": "^6.1.1",
@@ -9081,27 +9081,27 @@
       }
     },
     "node_modules/monaco-editor": {
-      "version": "0.29.1",
-      "resolved": "https://registry.npmjs.org/monaco-editor/-/monaco-editor-0.29.1.tgz",
-      "integrity": "sha512-rguaEG/zrPQSaKzQB7IfX/PpNa0qxF1FY8ZXRkN4WIl8qZdTQRSRJCtRto7IMcSgrU6H53RXI+fTcywOBC4aVw=="
+      "version": "0.31.1",
+      "resolved": "https://registry.npmjs.org/monaco-editor/-/monaco-editor-0.31.1.tgz",
+      "integrity": "sha512-FYPwxGZAeP6mRRyrr5XTGHD9gRXVjy7GUzF4IPChnyt3fS5WrNxIkS8DNujWf6EQy0Zlzpxw8oTVE+mWI2/D1Q=="
     },
     "node_modules/monaco-editor-webpack-plugin": {
-      "version": "5.0.0",
-      "resolved": "https://registry.npmjs.org/monaco-editor-webpack-plugin/-/monaco-editor-webpack-plugin-5.0.0.tgz",
-      "integrity": "sha512-KrUUTmMO3lDCNK4honZ6rrrKjOI7FFLeyCktPetIo5HlRqr5dfE6ewaA9qNLH96XY7CekE3Z+v/+I6ufAs3ObA==",
+      "version": "7.0.1",
+      "resolved": "https://registry.npmjs.org/monaco-editor-webpack-plugin/-/monaco-editor-webpack-plugin-7.0.1.tgz",
+      "integrity": "sha512-M8qIqizltrPlIbrb73cZdTWfU9sIsUVFvAZkL3KGjAHmVWEJ0hZKa/uad14JuOckc0GwnCaoGHvMoYtJjVyCzw==",
       "dev": true,
       "dependencies": {
-        "loader-utils": "^2.0.0"
+        "loader-utils": "^2.0.2"
       },
       "peerDependencies": {
-        "monaco-editor": "0.29.x",
+        "monaco-editor": ">= 0.31.0",
         "webpack": "^4.5.0 || 5.x"
       }
     },
     "node_modules/monaco-editor-webpack-plugin/node_modules/loader-utils": {
-      "version": "2.0.0",
-      "resolved": "https://registry.npmjs.org/loader-utils/-/loader-utils-2.0.0.tgz",
-      "integrity": "sha512-rP4F0h2RaWSvPEkD7BLDFQnvSf+nK+wr3ESUjNTyAGobqrijmW92zc+SO6d4p4B1wh7+B/Jg1mkQe5NYUEHtHQ==",
+      "version": "2.0.2",
+      "resolved": "https://registry.npmjs.org/loader-utils/-/loader-utils-2.0.2.tgz",
+      "integrity": "sha512-TM57VeHptv569d/GKh6TAYdzKblwDNiumOdkFnejjD0XwTH87K90w3O7AiJRqdQoXygvi1VQTJTLGhJl7WqA7A==",
       "dev": true,
       "dependencies": {
         "big.js": "^5.2.2",
@@ -19507,23 +19507,23 @@
       "integrity": "sha512-2lMlY1Yc1+CUy0gw4H95uNN7vjbpoED7NNRSBHE25nWfLBdmMzFCsPshlzbxHz+gYMcBEUN8V4pU16prcdPSgA=="
     },
     "monaco-editor": {
-      "version": "0.29.1",
-      "resolved": "https://registry.npmjs.org/monaco-editor/-/monaco-editor-0.29.1.tgz",
-      "integrity": "sha512-rguaEG/zrPQSaKzQB7IfX/PpNa0qxF1FY8ZXRkN4WIl8qZdTQRSRJCtRto7IMcSgrU6H53RXI+fTcywOBC4aVw=="
+      "version": "0.31.1",
+      "resolved": "https://registry.npmjs.org/monaco-editor/-/monaco-editor-0.31.1.tgz",
+      "integrity": "sha512-FYPwxGZAeP6mRRyrr5XTGHD9gRXVjy7GUzF4IPChnyt3fS5WrNxIkS8DNujWf6EQy0Zlzpxw8oTVE+mWI2/D1Q=="
     },
     "monaco-editor-webpack-plugin": {
-      "version": "5.0.0",
-      "resolved": "https://registry.npmjs.org/monaco-editor-webpack-plugin/-/monaco-editor-webpack-plugin-5.0.0.tgz",
-      "integrity": "sha512-KrUUTmMO3lDCNK4honZ6rrrKjOI7FFLeyCktPetIo5HlRqr5dfE6ewaA9qNLH96XY7CekE3Z+v/+I6ufAs3ObA==",
+      "version": "7.0.1",
+      "resolved": "https://registry.npmjs.org/monaco-editor-webpack-plugin/-/monaco-editor-webpack-plugin-7.0.1.tgz",
+      "integrity": "sha512-M8qIqizltrPlIbrb73cZdTWfU9sIsUVFvAZkL3KGjAHmVWEJ0hZKa/uad14JuOckc0GwnCaoGHvMoYtJjVyCzw==",
       "dev": true,
       "requires": {
-        "loader-utils": "^2.0.0"
+        "loader-utils": "^2.0.2"
       },
       "dependencies": {
         "loader-utils": {
-          "version": "2.0.0",
-          "resolved": "https://registry.npmjs.org/loader-utils/-/loader-utils-2.0.0.tgz",
-          "integrity": "sha512-rP4F0h2RaWSvPEkD7BLDFQnvSf+nK+wr3ESUjNTyAGobqrijmW92zc+SO6d4p4B1wh7+B/Jg1mkQe5NYUEHtHQ==",
+          "version": "2.0.2",
+          "resolved": "https://registry.npmjs.org/loader-utils/-/loader-utils-2.0.2.tgz",
+          "integrity": "sha512-TM57VeHptv569d/GKh6TAYdzKblwDNiumOdkFnejjD0XwTH87K90w3O7AiJRqdQoXygvi1VQTJTLGhJl7WqA7A==",
           "dev": true,
           "requires": {
             "big.js": "^5.2.2",
diff --git a/assets/package.json b/assets/package.json
index 2579e51352f0..545360a6fdfa 100644
--- a/assets/package.json
+++ b/assets/package.json
@@ -15,7 +15,7 @@
     "assert": "^2.0.0",
     "crypto-js": "^4.0.0",
     "hyperlist": "^1.0.0",
-    "monaco-editor": "^0.29.1",
+    "monaco-editor": "^0.31.1",
     "morphdom": "^2.6.1",
     "phoenix": "file:../deps/phoenix",
     "phoenix_html": "file:../deps/phoenix_html",
@@ -49,7 +49,7 @@
     "html-loader": "^3.0.1",
     "jest": "^27.3.0",
     "mini-css-extract-plugin": "^2.1.0",
-    "monaco-editor-webpack-plugin": "^5.0.0",
+    "monaco-editor-webpack-plugin": "^7.0.1",
     "postcss": "^8.2.3",
     "postcss-import": "^14.0.0",
     "postcss-loader": "^6.1.1",