diff --git a/pkgs/development/tools/py-spy/default.nix b/pkgs/development/tools/py-spy/default.nix
index c6bc51b4f844..0ade6d722d12 100644
--- a/pkgs/development/tools/py-spy/default.nix
+++ b/pkgs/development/tools/py-spy/default.nix
@@ -2,13 +2,13 @@
 
 rustPlatform.buildRustPackage rec {
   pname = "py-spy";
-  version = "0.3.11";
+  version = "0.3.12";
 
   src = fetchFromGitHub {
     owner = "benfred";
     repo = "py-spy";
     rev = "v${version}";
-    sha256 = "sha256-4Zp4IGd4lKBC0ye2/7Tfpz8vJzm0VnkKqx/2k3mCj3A=";
+    sha256 = "sha256-k58PPJAF9MsKRlscFSqdtTY5/rriaF0mXjgkADT+F4s=";
   };
 
   NIX_CFLAGS_COMPILE = "-L${libunwind}/lib";
@@ -20,7 +20,7 @@ rustPlatform.buildRustPackage rec {
 
   checkInputs = [ python3 ];
 
-  cargoSha256 = "sha256-LEtmzCoT8esBYh9PkCGpzUU7miaWd3Ao0z/LzxhP39A=";
+  cargoSha256 = "sha256-DC+EfJ671/bvFoHHjpJlFCO/phdndNcldnP3DsIKqAg=";
 
   meta = with lib; {
     description = "Sampling profiler for Python programs";