diff --git a/package/iperf3/iperf3.hash b/package/iperf3/iperf3.hash
index 02ada0dcc6..a8634c4a7e 100644
--- a/package/iperf3/iperf3.hash
+++ b/package/iperf3/iperf3.hash
@@ -1,4 +1,4 @@
-# From https://downloads.es.net/pub/iperf/iperf-3.14.tar.gz.sha256
-sha256  723fcc430a027bc6952628fa2a3ac77584a1d0bd328275e573fc9b206c155004  iperf-3.14.tar.gz
+# From https://downloads.es.net/pub/iperf/iperf-3.16.tar.gz.sha256
+sha256  cc740c6bbea104398cc3e466befc515a25896ec85e44a662d5f4a767b9cf713e  iperf-3.16.tar.gz
 # Locally computed
 sha256  35aa7c4618b9884d6faa9b43a4e70291b35ea9f89329d5d33becd852e85221b0  LICENSE
diff --git a/package/iperf3/iperf3.mk b/package/iperf3/iperf3.mk
index c00b16ce61..6d902c3b13 100644
--- a/package/iperf3/iperf3.mk
+++ b/package/iperf3/iperf3.mk
@@ -4,7 +4,7 @@
 #
 ################################################################################
 
-IPERF3_VERSION = 3.14
+IPERF3_VERSION = 3.16
 IPERF3_SITE = https://downloads.es.net/pub/iperf
 IPERF3_SOURCE = iperf-$(IPERF3_VERSION).tar.gz
 IPERF3_LICENSE = BSD-3-Clause, BSD-2-Clause, MIT