diff --git a/toolchain/toolchain-external/Config.in b/toolchain/toolchain-external/Config.in
index 32e77879e..2e7c4e99e 100644
--- a/toolchain/toolchain-external/Config.in
+++ b/toolchain/toolchain-external/Config.in
@@ -7,13 +7,12 @@ comment "(e)glibc toolchains only available with shared lib support"
 	depends on BR2_PREFER_STATIC_LIB
 
 config BR2_TOOLCHAIN_EXTERNAL_LINARO_ARM
-	bool "Linaro ARM 2014.02"
+	bool "Linaro ARM 2014.05"
 	depends on BR2_arm
 	depends on BR2_GCC_TARGET_ARCH = "armv7-a"
 	depends on BR2_HOSTARCH = "x86_64" || BR2_HOSTARCH = "x86"
 	depends on BR2_ARM_EABIHF
 	depends on !BR2_PREFER_STATIC_LIB
-	select BR2_TOOLCHAIN_HAS_GCC_BUG_58854 # toolchain generated before fix backport
 	select BR2_TOOLCHAIN_EXTERNAL_GLIBC
 	select BR2_TOOLCHAIN_HAS_NATIVE_RPC
 	select BR2_INSTALL_LIBSTDCPP
@@ -21,8 +20,8 @@ config BR2_TOOLCHAIN_EXTERNAL_LINARO_ARM
 	select BR2_TOOLCHAIN_HEADERS_AT_LEAST_3_1
 	help
 	  Linaro toolchain for the ARM architecture. It uses Linaro
-	  GCC 2014.02 (based on gcc 4.8), Linaro GDB 2013.10 (based on
-	  GDB 7.6), eglibc 2.18, Binutils 2014.02 (based on 2.24). It
+	  GCC 2014.05 (based on gcc 4.9), Linaro GDB 2014.05 (based on
+	  GDB 7.6), eglibc 2.19, Binutils 2014.05 (based on 2.24). It
 	  generates code that runs on all Cortex-A profile devices,
 	  but tuned for the Cortex-A9. The code generated is Thumb 2,
 	  with the hard floating point calling convention, and uses
diff --git a/toolchain/toolchain-external/toolchain-external.mk b/toolchain/toolchain-external/toolchain-external.mk
index 1b190897e..ba1690b08 100644
--- a/toolchain/toolchain-external/toolchain-external.mk
+++ b/toolchain/toolchain-external/toolchain-external.mk
@@ -276,8 +276,8 @@ define TOOLCHAIN_EXTERNAL_FIXUP_CMDS
 	rm -rf $(TOOLCHAIN_EXTERNAL_INSTALL_DIR)/arago-2011.09/
 endef
 else ifeq ($(BR2_TOOLCHAIN_EXTERNAL_LINARO_ARM),y)
-TOOLCHAIN_EXTERNAL_SITE = http://releases.linaro.org/14.02/components/toolchain/binaries/
-TOOLCHAIN_EXTERNAL_SOURCE = gcc-linaro-arm-linux-gnueabihf-4.8-2014.02_linux.tar.xz
+TOOLCHAIN_EXTERNAL_SITE = http://releases.linaro.org/14.05/components/toolchain/binaries/
+TOOLCHAIN_EXTERNAL_SOURCE = gcc-linaro-arm-linux-gnueabihf-4.9-2014.05_linux.tar.xz
 TOOLCHAIN_EXTERNAL_POST_INSTALL_STAGING_HOOKS += TOOLCHAIN_EXTERNAL_LINARO_ARMHF_SYMLINK
 else ifeq ($(BR2_TOOLCHAIN_EXTERNAL_LINARO_ARMEB),y)
 TOOLCHAIN_EXTERNAL_SITE = http://releases.linaro.org/14.02/components/toolchain/binaries/