diff --git a/package-lock.json b/package-lock.json
index 1dbb174adf5c..de1e5da0b04e 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "brave-core",
-  "version": "1.40.6",
+  "version": "1.40.7",
   "lockfileVersion": 2,
   "requires": true,
   "packages": {
     "": {
       "name": "brave-core",
-      "version": "1.40.6",
+      "version": "1.40.7",
       "license": "MPL-2.0",
       "dependencies": {
         "@brave/react-virtualized-auto-sizer": "^1.0.4",
diff --git a/package.json b/package.json
index 7bc044d7ec7c..23f8968218d9 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "brave-core",
-  "version": "1.40.6",
+  "version": "1.40.7",
   "description": "Brave Core is a set of changes, APIs and scripts used for customizing Chromium to make Brave.",
   "main": "index.js",
   "scripts": {
diff --git a/patches/chrome-VERSION.patch b/patches/chrome-VERSION.patch
index 95aa6953654c..79ffb1d76aa5 100644
--- a/patches/chrome-VERSION.patch
+++ b/patches/chrome-VERSION.patch
@@ -9,4 +9,4 @@ index e09c67291122599743ddee12bda4b8b242373a96..acf76cbcbc8669016b2a3a3dd8d6f901
 -PATCH=41
 +MINOR=1
 +BUILD=40
-+PATCH=6
++PATCH=7