diff --git a/pkgs/development/python-modules/panel/default.nix b/pkgs/development/python-modules/panel/default.nix
index 755ae203d8f2..af7574ee8e4c 100644
--- a/pkgs/development/python-modules/panel/default.nix
+++ b/pkgs/development/python-modules/panel/default.nix
@@ -16,7 +16,7 @@
 
 buildPythonPackage rec {
   pname = "panel";
-  version = "1.7.5";
+  version = "1.8.5";
 
   format = "wheel";
 
@@ -26,7 +26,7 @@ buildPythonPackage rec {
   src = fetchPypi {
     inherit pname version;
     format = "wheel";
-    hash = "sha256-HDtKM11W1aoM9dbhw2hKKX4kpiz5k0XF6euFUoN7l8M=";
+    hash = "sha256-srrwEPz6xMku7/5x9GmQey9/rc/9025C+HxUHLtIw7M=";
     dist = "py3";
     python = "py3";
   };