diff --git a/bitnami/mxnet/1/ol-7/Dockerfile b/bitnami/mxnet/1/ol-7/Dockerfile
index ab1c08127f93..4e54742354f4 100644
--- a/bitnami/mxnet/1/ol-7/Dockerfile
+++ b/bitnami/mxnet/1/ol-7/Dockerfile
@@ -1,4 +1,4 @@
-FROM bitnami/oraclelinux-extras-base:7-r353
+FROM bitnami/oraclelinux-extras-base:7-r354
 LABEL maintainer "Bitnami <containers@bitnami.com>"
 
 ENV BITNAMI_PKG_CHMOD="-R g+rwX" \
@@ -15,7 +15,7 @@ RUN . ./libcomponent.sh && component_unpack "mxnet" "1.4.1-0" --checksum a49753b
 COPY rootfs /
 RUN /prepare.sh
 ENV BITNAMI_APP_NAME="mxnet" \
-    BITNAMI_IMAGE_VERSION="1.4.1-ol-7-r53" \
+    BITNAMI_IMAGE_VERSION="1.4.1-ol-7-r54" \
     LD_LIBRARY_PATH="/opt/bitnami/python/lib/:$LD_LIBRARY_PATH" \
     NAMI_PREFIX="/.nami" \
     PATH="/opt/bitnami/python/bin:$PATH"
diff --git a/bitnami/mxnet/README.md b/bitnami/mxnet/README.md
index 98e6ece47a9a..bf46c96f480f 100644
--- a/bitnami/mxnet/README.md
+++ b/bitnami/mxnet/README.md
@@ -39,7 +39,7 @@ Learn more about the Bitnami tagging policy and the difference between rolling t
 
 
 * [`1-debian-9`, `1.5.0-debian-9-r2`, `1`, `1.5.0`, `1.5.0-r2`, `latest` (1/debian-9/Dockerfile)](https://github.com/bitnami/bitnami-docker-mxnet/blob/1.5.0-debian-9-r2/1/debian-9/Dockerfile)
-* [`1-ol-7`, `1.4.1-ol-7-r53` (1/ol-7/Dockerfile)](https://github.com/bitnami/bitnami-docker-mxnet/blob/1.4.1-ol-7-r53/1/ol-7/Dockerfile)
+* [`1-ol-7`, `1.4.1-ol-7-r54` (1/ol-7/Dockerfile)](https://github.com/bitnami/bitnami-docker-mxnet/blob/1.4.1-ol-7-r54/1/ol-7/Dockerfile)
 
 Subscribe to project updates by watching the [bitnami/mxnet GitHub repo](https://github.com/bitnami/bitnami-docker-mxnet).