diff --git a/pkgs/development/python-modules/pex/default.nix b/pkgs/development/python-modules/pex/default.nix
index 201d7b26f023..85829bedd2c1 100644
--- a/pkgs/development/python-modules/pex/default.nix
+++ b/pkgs/development/python-modules/pex/default.nix
@@ -36,12 +36,12 @@ let
 in
 buildPythonPackage rec {
   pname = "pex";
-  version = "2.33.1";
+  version = "2.38.1";
   pyproject = true;
 
   src = fetchPypi {
     inherit pname version;
-    hash = "sha256-kHTvgXe51TencKDkFQAAdyPXuJLBNpJ0NIy1KB8p5JQ=";
+    hash = "sha256-ejd9JWmDutYpwR+KPiS90Y3XKyyOwRAMpCEN013VMdI=";
   };
 
   preBuild = ''