diff --git a/MODULE.bazel b/MODULE.bazel
index 4b885e90..7773e9fd 100644
--- a/MODULE.bazel
+++ b/MODULE.bazel
@@ -8,6 +8,6 @@ module(
 
 # Lower-bound versions of direct dependencies.
 # When bumping, add a comment explaining what's required from the newer release.
-bazel_dep(name = "aspect_bazel_lib", version = "1.38.1")
+bazel_dep(name = "aspect_bazel_lib", version = "1.40.0")
 bazel_dep(name = "bazel_skylib", version = "1.4.2")
 bazel_dep(name = "rules_python", version = "0.27.1")
diff --git a/py/repositories.bzl b/py/repositories.bzl
index 3b9efb0a..dfad0dc6 100644
--- a/py/repositories.bzl
+++ b/py/repositories.bzl
@@ -31,9 +31,9 @@ def rules_py_dependencies():
 
     http_archive(
         name = "aspect_bazel_lib",
-        sha256 = "218c4861c13692d27fa8cecd18c281850c43d1b8badae5a79893ab79120a7efb",
-        strip_prefix = "bazel-lib-1.38.1",
-        url = "https://github.com/aspect-build/bazel-lib/archive/refs/tags/v1.38.1.tar.gz",
+        sha256 = "40bbabf754d1cb538be53f7c74821cc4a2f1002fa1d4608d85c75fff3ccce78c",
+        strip_prefix = "bazel-lib-1.40.0",
+        url = "https://github.com/aspect-build/bazel-lib/archive/refs/tags/v1.40.0.tar.gz",
     )
 
     http_archive(