diff --git a/gvsbuild/projects/ffmpeg.py b/gvsbuild/projects/ffmpeg.py
index 8024dfe48..621a46649 100644
--- a/gvsbuild/projects/ffmpeg.py
+++ b/gvsbuild/projects/ffmpeg.py
@@ -26,9 +26,9 @@ def __init__(self):
         Project.__init__(
             self,
             "ffmpeg",
-            version="7.0.2",
+            version="7.1",
             archive_url="https://ffmpeg.org/releases/ffmpeg-{version}.tar.xz",
-            hash="8646515b638a3ad303e23af6a3587734447cb8fc0a0c064ecdb8e95c4fd8b389",
+            hash="40973d44970dbc83ef302b0609f2e74982be2d85916dd2ee7472d30678a7abe6",
             dependencies=[
                 "dav1d",
                 "nasm",