diff --git a/pkgs/by-name/v2/v2ray/package.nix b/pkgs/by-name/v2/v2ray/package.nix
index 09e1c9ff7bd5..f3fb8ee71db5 100644
--- a/pkgs/by-name/v2/v2ray/package.nix
+++ b/pkgs/by-name/v2/v2ray/package.nix
@@ -16,18 +16,18 @@
 
 buildGoModule rec {
   pname = "v2ray-core";
-  version = "5.37.0";
+  version = "5.38.0";
 
   src = fetchFromGitHub {
     owner = "v2fly";
     repo = "v2ray-core";
     rev = "v${version}";
-    hash = "sha256-guALD7pXZUWE9eBYvjUhAE1QeodH3Nw30nVyRaNrRGw=";
+    hash = "sha256-vx0ttx7ACbgTeP7JCb+VHHBwPS97RVK9tZJaxf/bIyQ=";
   };
 
   # `nix-update` doesn't support `vendorHash` yet.
   # https://github.com/Mic92/nix-update/pull/95
-  vendorHash = "sha256-zf2oalZB/5EDqo0lrKbiaYSt0uw7Qh9J5exgxGrvLUg=";
+  vendorHash = "sha256-P/QWkUXJPHHndN2yEVYl3mq55Vi5/ayNwMtDHyQygdQ=";
 
   ldflags = [
     "-s"