diff --git a/package.json b/package.json
index 3c09df7d..e67860c5 100644
--- a/package.json
+++ b/package.json
@@ -42,7 +42,7 @@
   },
   "dependencies": {
     "@nomicfoundation/hardhat-ethers": "^3.0.0",
-    "@openzeppelin/contracts": "^4.9.3",
+    "@openzeppelin/contracts": "^5.1.0",
     "@openzeppelin/contracts-upgradeable": "^4.9.6",
     "@openzeppelin/hardhat-upgrades": "^3.2.0",
     "@skalenetwork/ima-interfaces": "2.0.0-develop.67",
diff --git a/yarn.lock b/yarn.lock
index 742ba8a5..004f9d36 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -1424,10 +1424,10 @@
   resolved "https://registry.yarnpkg.com/@openzeppelin/contracts-upgradeable/-/contracts-upgradeable-4.9.6.tgz#38b21708a719da647de4bb0e4802ee235a0d24df"
   integrity sha512-m4iHazOsOCv1DgM7eD7GupTJ+NFVujRZt1wzddDPSVGpWdKq1SKkla5htKG7+IS4d2XOCtzkUNwRZ7Vq5aEUMA==
 
-"@openzeppelin/contracts@^4.9.3":
-  version "4.9.3"
-  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.9.3.tgz#00d7a8cf35a475b160b3f0293a6403c511099364"
-  integrity sha512-He3LieZ1pP2TNt5JbkPA4PNT9WC3gOTOlDcFGJW4Le4QKqwmiNJCRt44APfxMxvq7OugU/cqYuPcSBzOw38DAg==
+"@openzeppelin/contracts@^5.1.0":
+  version "5.1.0"
+  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-5.1.0.tgz#4e61162f2a2bf414c4e10c45eca98ce5f1aadbd4"
+  integrity sha512-p1ULhl7BXzjjbha5aqst+QMLY+4/LCWADXOCsmLHRM77AqiPjnd9vvUN9sosUfhL9JGKpZ0TjEGxgvnizmWGSA==
 
 "@openzeppelin/defender-sdk-base-client@^1.10.0", "@openzeppelin/defender-sdk-base-client@^1.13.4":
   version "1.13.4"