diff --git a/pkgs/development/compilers/gambit/default.nix b/pkgs/development/compilers/gambit/default.nix
index cc8c80653ba..99a4d6fc4d1 100644
--- a/pkgs/development/compilers/gambit/default.nix
+++ b/pkgs/development/compilers/gambit/default.nix
@@ -2,12 +2,12 @@
 
 stdenv.mkDerivation rec {
   name    = "gambit-${version}";
-  version = "4.7.3";
-  devver  = "4_7_3";
+  version = "4.8.5";
+  devver  = "4_8_5";
 
   src = fetchurl {
-    url    = "http://www.iro.umontreal.ca/~gambit/download/gambit/v4.7/source/gambc-v${devver}-devel.tgz";
-    sha256 = "12jbr6bc0zmc7vw07a9pliadbvqgwkpmw6cj8awz73clv1j7pxha";
+    url    = "http://www.iro.umontreal.ca/~gambit/download/gambit/v4.8/source/gambit-v${devver}-devel.tgz";
+    sha256 = "02b5bm06k2qr0lvdwwsl0ygxs7n8410rrkq95picn4s02kxszqnq";
   };
 
   configureFlags = [ "--enable-shared" "--enable-single-host" ];