diff --git a/Formula/rust.rb b/Formula/rust.rb
index c4721861c7..ef81be89e9 100644
--- a/Formula/rust.rb
+++ b/Formula/rust.rb
@@ -3,12 +3,12 @@ class Rust < Formula
   homepage "https://www.rust-lang.org/"
 
   stable do
-    url "https://static.rust-lang.org/dist/rustc-1.4.0-src.tar.gz"
-    sha256 "1c0dfdce5c85d8098fcebb9adf1493847ab40c1dfaa8cc997af09b2ef0aa8211"
+    url "https://static.rust-lang.org/dist/rustc-1.5.0-src.tar.gz"
+    sha256 "641037af7b7b6cad0b231cc20671f8a314fbf2f40fc0901d0b877c39fc8da5a0"
 
     resource "cargo" do
       # git required because of submodules
-      url "https://github.com/rust-lang/cargo.git", :tag => "0.6.0", :revision => "e1ed9956e079a563796fb380871f4b67619f58ee"
+      url "https://github.com/rust-lang/cargo.git", :tag => "0.7.0", :revision => "1af03beaffe9be40ae81ca39431c1f1651ef6b02"
     end
 
     # name includes date to satisfy cache