diff --git a/pkgs/development/interpreters/wasmtime/default.nix b/pkgs/development/interpreters/wasmtime/default.nix
index b2844f723bc2..30a4244e4f84 100644
--- a/pkgs/development/interpreters/wasmtime/default.nix
+++ b/pkgs/development/interpreters/wasmtime/default.nix
@@ -2,17 +2,17 @@
 
 rustPlatform.buildRustPackage rec {
   pname = "wasmtime";
-  version = "4.0.0";
+  version = "5.0.0";
 
   src = fetchFromGitHub {
     owner = "bytecodealliance";
     repo = pname;
     rev = "v${version}";
-    hash = "sha256-Vw3+KlAuCQiyBfPOZrUotgrdkG+FRjXg8AxAanfbwJQ=";
+    hash = "sha256-tHGzXjOOOWgYBMA0skLRNFkVgXc3hcs3F1XNsHxDRhk=";
     fetchSubmodules = true;
   };
 
-  cargoHash = "sha256-gV3Yf7YL3D3hrymYW1b80uOlp7RYRWFC7GtxAot5Ut0=";
+  cargoHash = "sha256-92BZdbNz22cZMJkHJwE3lUik6hAhRLCBwYzm2RAvRGo=";
 
   cargoBuildFlags = [
     "--package wasmtime-cli"
@@ -28,14 +28,8 @@ rustPlatform.buildRustPackage rec {
   # false positives of this package being broken due to failed runs on
   # Hydra (e.g. https://hydra.nixos.org/build/187667794/)
   doCheck = (stdenv.system != "x86_64-darwin");
-  checkFlags = [
-    "--skip=cli_tests::run_cwasm"
-    "--skip=commands::compile::test::test_unsupported_flags_compile"
-    "--skip=commands::compile::test::test_aarch64_flags_compile"
-    "--skip=commands::compile::test::test_successful_compile"
-    "--skip=commands::compile::test::test_x64_flags_compile"
-    "--skip=commands::compile::test::test_x64_presets_compile"
-    "--skip=traps::parse_dwarf_info"
+  cargoTestFlags = [
+    "--package wasmtime-runtime"
   ];
 
   postInstall = ''