diff --git a/pkgs/development/tools/analysis/valgrind/callgrind_annotate.patch b/pkgs/development/tools/analysis/valgrind/callgrind_annotate.patch
deleted file mode 100644
index 7b09ead4510..00000000000
--- a/pkgs/development/tools/analysis/valgrind/callgrind_annotate.patch
+++ /dev/null
@@ -1,8 +0,0 @@
---- valgrind-3.3.0/callgrind/callgrind_annotate.in	2007-12-11 00:18:11.000000000 +0100
-+++ valgrind-3.3.0/callgrind/callgrind_annotate.in	2008-06-03 23:12:26.000000000 +0200
-@@ -1,4 +1,4 @@
--#! /usr/bin/perl -w
-+#! @PERL@ -w
- ##--------------------------------------------------------------------##
- ##--- The cache simulation framework: instrumentation, recording   ---##
- ##--- and results printing.                                        ---##
diff --git a/pkgs/development/tools/analysis/valgrind/default.nix b/pkgs/development/tools/analysis/valgrind/default.nix
index 23b6f5e08fa..2ec5b2bd795 100644
--- a/pkgs/development/tools/analysis/valgrind/default.nix
+++ b/pkgs/development/tools/analysis/valgrind/default.nix
@@ -1,15 +1,13 @@
 { stdenv, fetchurl, perl, gdb }:
 
 stdenv.mkDerivation {
-  name = "valgrind-3.3.1";
+  name = "valgrind-3.4.0";
 
   src = fetchurl {
-    url = http://valgrind.org/downloads/valgrind-3.3.1.tar.bz2;
-    sha256 = "1ymai2xr3c7132vzkngrshlcsrs1qagfd4vwccr96ixx2pcb9dwm";
+    url = http://valgrind.org/downloads/valgrind-3.4.0.tar.bz2;
+    sha256 = "0x4zbwk9ml3kbjzwh887ahw0pdxcm5h9159qg9kwm7zgn7jlmsnm";
   };
 
-  patches = [ ./callgrind_annotate.patch ];
-
   # Perl is needed for `cg_annotate'.
   # GDB is needed to provide a sane default for `--db-command'.
   buildInputs = [ perl gdb ];