diff --git a/Cargo.lock b/Cargo.lock
index 0f271f807a753..6326d1ffdf60c 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1185,16 +1185,18 @@ checksum = "dcb25d077389e53838a8158c8e99174c5a9d902dee4904320db714f3c653ffba"
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "91b18cf92869a6ae85cde3af4bc4beb6154efa8adef03b18db2ad413d5bce3a2"
 dependencies = [
  "cranelift-entity",
 ]
 
 [[package]]
 name = "cranelift-codegen"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "567d9f6e919bac076f39b902a072686eaf9e6d015baa34d10a61b85105b7af59"
 dependencies = [
  "arrayvec 0.7.2",
  "bumpalo",
@@ -1213,29 +1215,33 @@ dependencies = [
 
 [[package]]
 name = "cranelift-codegen-meta"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "1e72b2d5ec8917b2971fe83850187373d0a186db4748a7c23a5f48691b8d92bb"
 dependencies = [
  "cranelift-codegen-shared",
 ]
 
 [[package]]
 name = "cranelift-codegen-shared"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "3461c0e0c2ebbeb92533aacb27e219289f60dc84134ef34fbf2d77c9eddf07ef"
 
 [[package]]
 name = "cranelift-entity"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "af684f7f7b01427b1942c7102673322a51b9d6f261e9663dc5e5595786775531"
 dependencies = [
  "serde",
 ]
 
 [[package]]
 name = "cranelift-frontend"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "7d361ed0373cf5f086b49c499aa72227b646a64f899f32e34312f97c0fadff75"
 dependencies = [
  "cranelift-codegen",
  "log",
@@ -1245,13 +1251,15 @@ dependencies = [
 
 [[package]]
 name = "cranelift-isle"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "cef4f8f3984d772c199a48896d2fb766f96301bf71b371e03a2b99f4f3b7b931"
 
 [[package]]
 name = "cranelift-native"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "f98e4e99a353703475d5acb402b9c13482d41d8a4008b352559bd560afb90363"
 dependencies = [
  "cranelift-codegen",
  "libc",
@@ -1260,8 +1268,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-wasm"
-version = "0.92.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "0.93.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a1e3f4f0779a1b0f286a6ef19835d8665f88326e656a6d7d84fa9a39fa38ca32"
 dependencies = [
  "cranelift-codegen",
  "cranelift-entity",
@@ -11951,9 +11960,9 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.96.0"
+version = "0.100.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "adde01ade41ab9a5d10ec8ed0bb954238cf8625b5cd5a13093d6de2ad9c2be1a"
+checksum = "64b20236ab624147dfbb62cf12a19aaf66af0e41b8398838b66e997d07d269d4"
 dependencies = [
  "indexmap",
  "url",
@@ -11970,8 +11979,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "9010891d0b8e367c3be94ca35d7bc25c1de3240463bb1d61bcfc8c2233c4e0d0"
 dependencies = [
  "anyhow",
  "bincode",
@@ -11997,16 +12007,18 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-asm-macros"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "65805c663eaa8257b910666f6d4b056b5c7329750da754ba5df54f3af7dbf35c"
 dependencies = [
  "cfg-if",
 ]
 
 [[package]]
 name = "wasmtime-cache"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "2049ddfc1b10efc3c5591d0e84b9570ca50478f8818f3bfabb1a467918f53fb4"
 dependencies = [
  "anyhow",
  "base64 0.13.1",
@@ -12024,8 +12036,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-cranelift"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "3f9065cad6a724fa838ec8497567e0b23acc26417bb2449f8d9d2021925c72f2"
 dependencies = [
  "anyhow",
  "cranelift-codegen",
@@ -12044,8 +12057,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-environ"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4f964bb0b91fa021b8d1b488c62cc77b346c1dae6e3ebd010050b57c1f2ca657"
 dependencies = [
  "anyhow",
  "cranelift-entity",
@@ -12062,8 +12076,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "b7a1d06f5d109539e0168fc74fa65e3948ac8dac3bb8cdbd08b62b36a0ae27b8"
 dependencies = [
  "addr2line 0.17.0",
  "anyhow",
@@ -12085,8 +12100,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit-debug"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "f76ef2e410329aaf8555ac6571d6fe07711be0646dcdf7ff3ab750a42ed2e583"
 dependencies = [
  "object 0.29.0",
  "once_cell",
@@ -12095,8 +12111,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit-icache-coherence"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "ec1fd0f0dd79e7cc0f55b102e320d7c77ab76cd272008a8fd98e25b5777e2636"
 dependencies = [
  "cfg-if",
  "libc",
@@ -12105,8 +12122,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-runtime"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "271aef9b4ca2e953a866293683f2db33cda46f6933c5e431e68d8373723d4ab6"
 dependencies = [
  "anyhow",
  "cc",
@@ -12128,8 +12146,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-types"
-version = "5.0.0"
-source = "git+https://github.com/paritytech/wasmtime.git?branch=v5.0.0_lto_fix#8a02705ad378108e43abe23c538688adf73f3b71"
+version = "6.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "b18144b0e45479a830ac9fcebfc71a16d90dc72d8ebd5679700eb3bfe974d7df"
 dependencies = [
  "cranelift-entity",
  "serde",
diff --git a/client/executor/wasmtime/Cargo.toml b/client/executor/wasmtime/Cargo.toml
index 787ef66edd9ce..19d9eea3e5af8 100644
--- a/client/executor/wasmtime/Cargo.toml
+++ b/client/executor/wasmtime/Cargo.toml
@@ -21,13 +21,13 @@ parity-wasm = "0.45"
 
 # When bumping wasmtime do not forget to also bump rustix
 # to exactly the same version as used by wasmtime!
-wasmtime = { version = "5.0.0", default-features = false, features = [
+wasmtime = { version = "6.0.0", default-features = false, features = [
 	"cache",
 	"cranelift",
 	"jitdump",
 	"parallel-compilation",
 	"pooling-allocator"
-], git = "https://github.com/paritytech/wasmtime.git", branch = "v5.0.0_lto_fix" }
+] }
 anyhow = "1.0.68"
 sc-allocator = { version = "4.1.0-dev", path = "../../allocator" }
 sc-executor-common = { version = "0.10.0-dev", path = "../common" }
@@ -41,7 +41,7 @@ sp-wasm-interface = { version = "7.0.0", path = "../../../primitives/wasm-interf
 # By default rustix directly calls the appropriate syscalls completely bypassing libc;
 # this doesn't have any actual benefits for us besides making it harder to debug memory
 # problems (since then `mmap` etc. cannot be easily hooked into).
-rustix = { version = "0.36.0", default-features = false, features = ["std", "mm", "fs", "param", "use-libc"] }
+rustix = { version = "0.36.7", default-features = false, features = ["std", "mm", "fs", "param", "use-libc"] }
 once_cell = "1.12.0"
 
 [dev-dependencies]
diff --git a/client/executor/wasmtime/src/instance_wrapper.rs b/client/executor/wasmtime/src/instance_wrapper.rs
index f80c7b70d1f28..2fb27180fcc76 100644
--- a/client/executor/wasmtime/src/instance_wrapper.rs
+++ b/client/executor/wasmtime/src/instance_wrapper.rs
@@ -402,8 +402,7 @@ fn decommit_works() {
 	let code = wat::parse_str("(module (memory (export \"memory\") 1 4))").unwrap();
 	let module = wasmtime::Module::new(&engine, code).unwrap();
 	let linker = wasmtime::Linker::new(&engine);
-	let mut store = create_store(&engine, None);
-	let instance_pre = linker.instantiate_pre(&mut store, &module).unwrap();
+	let instance_pre = linker.instantiate_pre(&module).unwrap();
 	let mut wrapper = InstanceWrapper::new(&engine, &instance_pre, None).unwrap();
 	unsafe { *wrapper.memory.data_ptr(&wrapper.store) = 42 };
 	assert_eq!(unsafe { *wrapper.memory.data_ptr(&wrapper.store) }, 42);
diff --git a/client/executor/wasmtime/src/runtime.rs b/client/executor/wasmtime/src/runtime.rs
index 62fd933e4e7d5..f2fc08f4f9e5f 100644
--- a/client/executor/wasmtime/src/runtime.rs
+++ b/client/executor/wasmtime/src/runtime.rs
@@ -308,6 +308,11 @@ fn common_config(semantics: &Semantics) -> std::result::Result<wasmtime::Config,
 	config.cranelift_opt_level(wasmtime::OptLevel::SpeedAndSize);
 	config.cranelift_nan_canonicalization(semantics.canonicalize_nans);
 
+	// Since wasmtime 6.0.0 the default for this is `true`, but that heavily regresses
+	// the contracts pallet's performance, so disable it for now.
+	#[allow(deprecated)]
+	config.cranelift_use_egraphs(false);
+
 	let profiler = match std::env::var_os("WASMTIME_PROFILING_STRATEGY") {
 		Some(os_string) if os_string == "jitdump" => wasmtime::ProfilingStrategy::JitDump,
 		None => wasmtime::ProfilingStrategy::None,
@@ -378,7 +383,7 @@ fn common_config(semantics: &Semantics) -> std::result::Result<wasmtime::Config,
 
 		let mut pooling_config = wasmtime::PoolingAllocationConfig::default();
 		pooling_config
-			.strategy(wasmtime::PoolingAllocationStrategy::ReuseAffinity)
+			.max_unused_warm_slots(4)
 			// Pooling needs a bunch of hard limits to be set; if we go over
 			// any of these then the instantiation will fail.
 			//
@@ -690,10 +695,8 @@ where
 	let mut linker = wasmtime::Linker::new(&engine);
 	crate::imports::prepare_imports::<H>(&mut linker, &module, config.allow_missing_func_imports)?;
 
-	let mut store =
-		crate::instance_wrapper::create_store(module.engine(), config.semantics.max_memory_size);
 	let instance_pre = linker
-		.instantiate_pre(&mut store, &module)
+		.instantiate_pre(&module)
 		.map_err(|e| WasmError::Other(format!("cannot preinstantiate module: {:#}", e)))?;
 
 	Ok(WasmtimeRuntime {
diff --git a/primitives/wasm-interface/Cargo.toml b/primitives/wasm-interface/Cargo.toml
index 867888f4792fb..954a10838db9b 100644
--- a/primitives/wasm-interface/Cargo.toml
+++ b/primitives/wasm-interface/Cargo.toml
@@ -18,7 +18,7 @@ codec = { package = "parity-scale-codec", version = "3.2.2", default-features =
 impl-trait-for-tuples = "0.2.2"
 log = { version = "0.4.17", optional = true }
 wasmi = { version = "0.13", optional = true, features = ["virtual_memory"] }
-wasmtime = { version = "5.0.0", default-features = false, optional = true }
+wasmtime = { version = "6.0.0", default-features = false, optional = true }
 anyhow = { version = "1.0.68", optional = true }
 sp-std = { version = "5.0.0", default-features = false, path = "../std" }