diff --git a/platform/mellanox/hw-management.mk b/platform/mellanox/hw-management.mk
index 80fa61c9d2..4cf961ac7d 100644
--- a/platform/mellanox/hw-management.mk
+++ b/platform/mellanox/hw-management.mk
@@ -16,7 +16,7 @@
 #
 # Mellanox HW Management
 
-MLNX_HW_MANAGEMENT_VERSION = 7i.0010.3330
+MLNX_HW_MANAGEMENT_VERSION = 7.0010.3331
 
 export MLNX_HW_MANAGEMENT_VERSION
 
diff --git a/platform/mellanox/hw-management/hw-mgmt b/platform/mellanox/hw-management/hw-mgmt
index aeb36581d1..0ece116e31 160000
--- a/platform/mellanox/hw-management/hw-mgmt
+++ b/platform/mellanox/hw-management/hw-mgmt
@@ -1 +1 @@
-Subproject commit aeb36581d1ac4811f53650580c79ef912ae9399c
+Subproject commit 0ece116e31bd15031af263e28a1b681d4575db5e