diff --git a/package.json b/package.json
index 0ac0efb0cf8..b06b6e9755e 100644
--- a/package.json
+++ b/package.json
@@ -38,6 +38,8 @@
   "dependencies": {
     "@ethereumjs/common": "^2.3.1",
     "@ethereumjs/tx": "^3.2.1",
+    "@ethersproject/contracts": "^5.7.0",
+    "@ethersproject/providers": "^5.7.0",
     "@keystonehq/metamask-airgapped-keyring": "^0.3.0",
     "@metamask/contract-metadata": "^1.35.0",
     "@metamask/metamask-eth-abis": "3.0.0",
@@ -57,7 +59,6 @@
     "eth-sig-util": "^3.0.0",
     "ethereumjs-util": "^7.0.10",
     "ethereumjs-wallet": "^1.0.1",
-    "ethers": "^5.4.1",
     "ethjs-unit": "^0.1.6",
     "fast-deep-equal": "^3.1.3",
     "immer": "^9.0.6",
diff --git a/src/assets/Standards/ERC20Standard.ts b/src/assets/Standards/ERC20Standard.ts
index c7994af2f97..2f782ea813a 100644
--- a/src/assets/Standards/ERC20Standard.ts
+++ b/src/assets/Standards/ERC20Standard.ts
@@ -1,6 +1,6 @@
 import { abiERC20 } from '@metamask/metamask-eth-abis';
 import { BN, toUtf8 } from 'ethereumjs-util';
-import { AbiCoder } from 'ethers/lib/utils';
+import { AbiCoder } from '@ethersproject/abi';
 import { ERC20 } from '../../constants';
 import { Web3 } from './standards-types';
 
diff --git a/src/assets/TokensController.ts b/src/assets/TokensController.ts
index f8756ea2314..d4dcbddf110 100644
--- a/src/assets/TokensController.ts
+++ b/src/assets/TokensController.ts
@@ -3,7 +3,8 @@ import contractsMap from '@metamask/contract-metadata';
 import { abiERC721 } from '@metamask/metamask-eth-abis';
 import { v1 as random } from 'uuid';
 import { Mutex } from 'async-mutex';
-import { ethers, Contract } from 'ethers';
+import { Contract } from '@ethersproject/contracts';
+import { Web3Provider } from '@ethersproject/providers';
 import { AbortController } from 'abort-controller';
 import { BaseController, BaseConfig, BaseState } from '../BaseController';
 import type { PreferencesState } from '../user/PreferencesController';
@@ -242,7 +243,7 @@ export class TokensController extends BaseController<
   }
 
   _instantiateNewEthersProvider(): any {
-    return new ethers.providers.Web3Provider(this.config?.provider);
+    return new Web3Provider(this.config?.provider);
   }
 
   /**
diff --git a/yarn.lock b/yarn.lock
index b7d0ee7fcd1..bf627c3b5d7 100644
--- a/yarn.lock
+++ b/yarn.lock
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