diff --git a/Formula/icoutils.rb b/Formula/icoutils.rb
index a450cad8070..48e55415718 100644
--- a/Formula/icoutils.rb
+++ b/Formula/icoutils.rb
@@ -2,8 +2,8 @@ require 'formula'
 
 class Icoutils < Formula
   homepage 'http://www.nongnu.org/icoutils/'
-  url 'http://savannah.nongnu.org/download/icoutils/icoutils-0.29.1.tar.bz2'
-  sha1 '312036e81d8c1800fb21ca6fc6b6ff3219e2c030'
+  url 'http://savannah.nongnu.org/download/icoutils/icoutils-0.31.0.tar.bz2'
+  sha1 '2712acd33c611588793562310077efd2ff35dca5'
 
   depends_on :libpng