diff --git a/emulator/Makefrag-verilator b/emulator/Makefrag-verilator
index 4e8ed1a6..249c7c18 100644
--- a/emulator/Makefrag-verilator
+++ b/emulator/Makefrag-verilator
@@ -21,7 +21,7 @@ $(generated_dir_debug)/%.fir $(generated_dir_debug)/%.d: $(FIRRTL_JAR) $(chisel_
 	$(FIRRTL) $(patsubst %,-i %,$(filter %.fir,$^)) -o $@ -X verilog
 
 # Build and install our own Verilator, to work around versionining issues.
-VERILATOR_VERSION=3.884
+VERILATOR_VERSION=3.904
 VERILATOR_SRCDIR ?= verilator/src/verilator-$(VERILATOR_VERSION)
 VERILATOR_TARGET := $(abspath verilator/install/bin/verilator)
 INSTALLED_VERILATOR ?= $(VERILATOR_TARGET)