diff --git a/Package.resolved b/Package.resolved
index eb5a7d0f5..7e701580b 100644
--- a/Package.resolved
+++ b/Package.resolved
@@ -5,8 +5,8 @@
       "kind" : "remoteSourceControl",
       "location" : "https://github.com/apple/swift-argument-parser.git",
       "state" : {
-        "revision" : "8f4d2753f0e4778c76d5f05ad16c74f707390531",
-        "version" : "1.2.3"
+        "revision" : "0fbc8848e389af3bb55c182bc19ca9d5dc2f255b",
+        "version" : "1.4.0"
       }
     },
     {
diff --git a/Package.swift b/Package.swift
index 0e1c989ca..60d379502 100644
--- a/Package.swift
+++ b/Package.swift
@@ -165,8 +165,8 @@ if ProcessInfo.processInfo.environment["SWIFTCI_USE_LOCAL_DEPS"] == nil {
     // The 'swift-argument-parser' version declared here must match that
     // used by 'swift-package-manager' and 'sourcekit-lsp'. Please coordinate
     // dependency version changes here with those projects.
-    .package(url: "https://github.com/apple/swift-argument-parser.git", .upToNextMinor(from: "1.2.2")),
-    ]
+    .package(url: "https://github.com/apple/swift-argument-parser.git", .upToNextMinor(from: "1.4.0")),
+  ]
 } else {
     package.dependencies += [
         .package(path: "../swift-tools-support-core"),