diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3cc3cae18c6..66ca377c6d9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -55,6 +55,7 @@
     - `libp2p-request-response`
     - `libp2p-swarm`
     - `libp2p-wasm-ext`
+    - `libp2p-yamux`
     
 - Drop support for `wasm32-unknown-unknown` in favor of
   `wasm32-unknown-emscripten` and `wasm32-wasi` [PR
diff --git a/Cargo.toml b/Cargo.toml
index 35d13bceea8..d48c7f73f21 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -80,7 +80,7 @@ libp2p-swarm = { version = "0.29.0", path = "swarm" }
 libp2p-swarm-derive = { version = "0.22.0", path = "swarm-derive" }
 libp2p-uds = { version = "0.28.0", path = "transports/uds", optional = true }
 libp2p-wasm-ext = { version = "0.28.1", path = "transports/wasm-ext", default-features = false, optional = true }
-libp2p-yamux = { version = "0.31.0", path = "muxers/yamux", optional = true }
+libp2p-yamux = { version = "0.32.0", path = "muxers/yamux", optional = true }
 multiaddr = { package = "parity-multiaddr", version = "0.11.2", path = "misc/multiaddr" }
 parking_lot = "0.11.0"
 pin-project = "1.0.0"
diff --git a/muxers/yamux/CHANGELOG.md b/muxers/yamux/CHANGELOG.md
index caa8921cd41..8f1d5591aa0 100644
--- a/muxers/yamux/CHANGELOG.md
+++ b/muxers/yamux/CHANGELOG.md
@@ -1,3 +1,8 @@
+# 0.32.0 [unreleased]
+
+- Update to `yamux` `v0.9.0` [PR
+  1960](https://github.com/libp2p/rust-libp2p/pull/1960).
+
 # 0.31.0 [2021-03-17]
 
 - Update `libp2p-core`.
diff --git a/muxers/yamux/Cargo.toml b/muxers/yamux/Cargo.toml
index 88490b74a60..536309e39c3 100644
--- a/muxers/yamux/Cargo.toml
+++ b/muxers/yamux/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-yamux"
 edition = "2018"
 description = "Yamux multiplexing protocol for libp2p"
-version = "0.31.0"
+version = "0.32.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -14,4 +14,4 @@ futures = "0.3.1"
 libp2p-core = { version = "0.28.0", path = "../../core" }
 parking_lot = "0.11"
 thiserror = "1.0"
-yamux = "0.8.1"
+yamux = "0.9.0"