diff --git a/package.json b/package.json
index d8e2f6b53f20..81e8c3135162 100644
--- a/package.json
+++ b/package.json
@@ -97,7 +97,7 @@
     "typescript": "~2.3.1",
     "url-loader": "^0.5.7",
     "walk-sync": "^0.3.1",
-    "webpack": "~3.1.0",
+    "webpack": "~3.2.0",
     "webpack-dev-middleware": "^1.11.0",
     "webpack-dev-server": "~2.5.1",
     "webpack-merge": "^2.4.0",
diff --git a/packages/@angular/cli/package.json b/packages/@angular/cli/package.json
index ac0554a5dece..b21e4189fd4c 100644
--- a/packages/@angular/cli/package.json
+++ b/packages/@angular/cli/package.json
@@ -82,7 +82,7 @@
     "typescript": ">=2.0.0 <2.4.0",
     "url-loader": "^0.5.7",
     "walk-sync": "^0.3.1",
-    "webpack": "~3.1.0",
+    "webpack": "~3.2.0",
     "webpack-dev-middleware": "^1.11.0",
     "webpack-dev-server": "~2.4.5",
     "webpack-merge": "^2.4.0",
diff --git a/yarn.lock b/yarn.lock
index 630b01e8696a..cd0000f1554b 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -5480,9 +5480,9 @@ webpack-sources@^1.0.1:
     source-list-map "^2.0.0"
     source-map "~0.5.3"
 
-webpack@~3.1.0:
-  version "3.1.0"
-  resolved "https://registry.yarnpkg.com/webpack/-/webpack-3.1.0.tgz#ac0675e500db835f9ab2369d29ba096f51ad0731"
+webpack@~3.2.0:
+  version "3.2.0"
+  resolved "https://registry.yarnpkg.com/webpack/-/webpack-3.2.0.tgz#8b0cae0e1a9fd76bfbf0eab61a8c2ada848c312f"
   dependencies:
     acorn "^5.0.0"
     acorn-dynamic-import "^2.0.0"