diff --git a/package-lock.json b/package-lock.json
index 5638adb37432..dec4b42d3a07 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "brave-core",
-  "version": "1.42.15",
+  "version": "1.42.16",
   "lockfileVersion": 2,
   "requires": true,
   "packages": {
     "": {
       "name": "brave-core",
-      "version": "1.42.15",
+      "version": "1.42.16",
       "license": "MPL-2.0",
       "dependencies": {
         "@brave/react-virtualized-auto-sizer": "^1.0.4",
diff --git a/package.json b/package.json
index 6ca5f0dc2d1d..20fcda173a22 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "brave-core",
-  "version": "1.42.15",
+  "version": "1.42.16",
   "description": "Brave Core is a set of changes, APIs and scripts used for customizing Chromium to make Brave.",
   "main": "index.js",
   "scripts": {
diff --git a/patches/chrome-VERSION.patch b/patches/chrome-VERSION.patch
index cc053eea96f7..c8d063e9f5c4 100644
--- a/patches/chrome-VERSION.patch
+++ b/patches/chrome-VERSION.patch
@@ -9,4 +9,4 @@ index a34958386d7c3d637856157655735947af417243..ef241bb303ae4f601e44c9363de19c40
 -PATCH=53
 +MINOR=1
 +BUILD=42
-+PATCH=15
++PATCH=16