diff --git a/Cargo.lock b/Cargo.lock
index 73effefc48da1..5301ce26bd08d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -8487,18 +8487,18 @@ dependencies = [
 
 [[package]]
 name = "secp256k1"
-version = "0.24.0"
+version = "0.27.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b7649a0b3ffb32636e60c7ce0d70511eda9c52c658cd0634e194d5a19943aeff"
+checksum = "25996b82292a7a57ed3508f052cfff8640d38d32018784acd714758b43da9c8f"
 dependencies = [
  "secp256k1-sys",
 ]
 
 [[package]]
 name = "secp256k1-sys"
-version = "0.6.0"
+version = "0.8.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7058dc8eaf3f2810d7828680320acda0b25a288f6d288e19278e249bbf74226b"
+checksum = "70a129b9e9efbfb223753b9163c4ab3b13cff7fd9c7f010fbac25ab4099fa07e"
 dependencies = [
  "cc",
 ]
diff --git a/primitives/core/Cargo.toml b/primitives/core/Cargo.toml
index bfec09a13c135..a72e8c3273cfb 100644
--- a/primitives/core/Cargo.toml
+++ b/primitives/core/Cargo.toml
@@ -55,7 +55,7 @@ schnorrkel = { version = "0.9.1", features = [
 ], default-features = false, optional = true }
 libsecp256k1 = { version = "0.7", default-features = false, features = ["static-context"], optional = true }
 merlin = { version = "2.0", default-features = false, optional = true }
-secp256k1 = { version = "0.24.0", default-features = false, features = ["recovery", "alloc"], optional = true }
+secp256k1 = { version = "0.27.0", default-features = false, features = ["recovery", "alloc"], optional = true }
 ss58-registry = { version = "1.34.0", default-features = false }
 sp-core-hashing = { version = "5.0.0", path = "./hashing", default-features = false, optional = true }
 sp-runtime-interface = { version = "7.0.0", default-features = false, path = "../runtime-interface" }
diff --git a/primitives/io/Cargo.toml b/primitives/io/Cargo.toml
index cd900b8f158ef..1300b1259e492 100644
--- a/primitives/io/Cargo.toml
+++ b/primitives/io/Cargo.toml
@@ -31,7 +31,7 @@ sp-tracing = { version = "6.0.0", default-features = false, path = "../tracing"
 log = { version = "0.4.17", optional = true }
 futures = { version = "0.3.21", features = ["thread-pool"], optional = true }
 parking_lot = { version = "0.12.1", optional = true }
-secp256k1 = { version = "0.24.0", features = ["recovery", "global-context"], optional = true }
+secp256k1 = { version = "0.27.0", features = ["recovery", "global-context"], optional = true }
 tracing = { version = "0.1.29", default-features = false }
 tracing-core = { version = "0.1.28", default-features = false}
 ed25519-dalek = { version = "1.0.1", default-features = false, optional = true }