diff --git a/packages/web3-contracts/package.json b/packages/web3-contracts/package.json
index 6a4ab76d706d..aaa03248fc0d 100644
--- a/packages/web3-contracts/package.json
+++ b/packages/web3-contracts/package.json
@@ -8,8 +8,8 @@
   },
   "dependencies": {
     "@typechain/web3-v1": "^6.0.7",
-    "web3-core": "1.10.4",
-    "web3-eth-contract": "1.10.4"
+    "web3-core": "4.0.1",
+    "web3-eth-contract": "4.0.1"
   },
   "devDependencies": {
     "bn.js": "^4.12.0"