diff --git a/platform/mellanox/mft.mk b/platform/mellanox/mft.mk
index 41c1301f0a56..d68360201556 100644
--- a/platform/mellanox/mft.mk
+++ b/platform/mellanox/mft.mk
@@ -1,7 +1,7 @@
 # Mellanox SAI
 
-MFT_VERSION = 4.17.2
-MFT_REVISION = 12
+MFT_VERSION = 4.18.1
+MFT_REVISION = 16
 
 export MFT_VERSION MFT_REVISION