diff --git a/packages/gatsby-source-contentful/package.json b/packages/gatsby-source-contentful/package.json
index ead8758c9e07b..8c2d36c1537b0 100644
--- a/packages/gatsby-source-contentful/package.json
+++ b/packages/gatsby-source-contentful/package.json
@@ -7,11 +7,11 @@
     "url": "https://github.com/gatsbyjs/gatsby/issues"
   },
   "dependencies": {
-    "axios": "^0.16.1",
+    "axios": "^0.21.3",
     "babel-runtime": "^6.26.0",
     "base64-img": "^1.0.3",
     "bluebird": "^3.5.0",
-    "contentful": "^4.3.0",
+    "contentful": "^5.0.4",
     "deep-map": "^1.5.0",
     "fs-extra": "^4.0.2",
     "json-stringify-safe": "^5.0.1",