diff --git a/plugins/woocommerce-admin/package-lock.json b/plugins/woocommerce-admin/package-lock.json
index ce5d159a645..448af5613f0 100644
--- a/plugins/woocommerce-admin/package-lock.json
+++ b/plugins/woocommerce-admin/package-lock.json
@@ -12845,9 +12845,9 @@
       "integrity": "sha512-Dm8Jhb5kiC4+ynYsVR4QDXKt+o2dfqGuY4hE2x+XlXZkdndlT80bJxfcMv5QGp/FCy6MhG7f5ElpmKPFKOSEpg=="
     },
     "memoize-one": {
-      "version": "5.0.2",
-      "resolved": "https://registry.npmjs.org/memoize-one/-/memoize-one-5.0.2.tgz",
-      "integrity": "sha512-o7lldN4fs/axqctc03NF+PMhd2veRrWeJ2n2GjEzUPBD4F9rmNg4A+bQCACIzwjHJEXuYv4aFFMaH35KZfHUrw=="
+      "version": "5.0.4",
+      "resolved": "https://registry.npmjs.org/memoize-one/-/memoize-one-5.0.4.tgz",
+      "integrity": "sha512-P0z5IeAH6qHHGkJIXWw0xC2HNEgkx/9uWWBQw64FJj3/ol14VYdfVGWWr0fXfjhhv3TKVIqUq65os6O4GUNksA=="
     },
     "memory-fs": {
       "version": "0.4.1",
diff --git a/plugins/woocommerce-admin/package.json b/plugins/woocommerce-admin/package.json
index b545eef9e46..7a1a69e28f8 100644
--- a/plugins/woocommerce-admin/package.json
+++ b/plugins/woocommerce-admin/package.json
@@ -95,7 +95,7 @@
     "html-to-react": "1.3.4",
     "interpolate-components": "1.1.1",
     "marked": "0.6.2",
-    "memoize-one": "5.0.2",
+    "memoize-one": "5.0.4",
     "prismjs": "1.16.0",
     "qs": "6.7.0",
     "react-click-outside": "3.0.1",
diff --git a/plugins/woocommerce-admin/packages/components/package.json b/plugins/woocommerce-admin/packages/components/package.json
index 05d08e739d8..fb77de9b2e0 100644
--- a/plugins/woocommerce-admin/packages/components/package.json
+++ b/plugins/woocommerce-admin/packages/components/package.json
@@ -47,7 +47,7 @@
     "gridicons": "3.2.0",
     "interpolate-components": "1.1.1",
     "lodash": "4.17.11",
-    "memoize-one": "5.0.2",
+    "memoize-one": "5.0.4",
     "moment": "2.22.1",
     "prop-types": "15.7.2",
     "qs": "6.7.0",