diff --git a/platform/mellanox/fw.mk b/platform/mellanox/fw.mk
index 0e4925163d..c069801770 100644
--- a/platform/mellanox/fw.mk
+++ b/platform/mellanox/fw.mk
@@ -22,38 +22,38 @@ MLNX_FW_BASE_PATH = $(MLNX_SDK_BASE_PATH)
 # Place an URL here to FW if you want to download FW instead
 MLNX_FW_BASE_URL =
 
-SIMX_VERSION = 25.4-1018
+SIMX_VERSION = 25.3-1004
 
 FW_FROM_URL = y
 
-MLNX_FW_ASSETS_RELEASE_TAG = fw-2014.3534
+MLNX_FW_ASSETS_RELEASE_TAG = fw-2014.3548
 MLNX_FW_ASSETS_URL = $(MLNX_ASSETS_GITHUB_URL)/releases/download/$(MLNX_FW_ASSETS_RELEASE_TAG)
 
 ifeq ($(MLNX_FW_BASE_URL), )
 MLNX_FW_BASE_URL = $(MLNX_FW_ASSETS_URL)
 endif
 
-MLNX_SPC_FW_VERSION = 13.2014.3534
+MLNX_SPC_FW_VERSION = 13.2014.3548
 MLNX_SPC_FW_FILE = fw-SPC-rel-$(subst .,_,$(MLNX_SPC_FW_VERSION))-EVB.mfa
 $(MLNX_SPC_FW_FILE)_PATH = $(MLNX_FW_BASE_PATH)
 $(MLNX_SPC_FW_FILE)_URL = $(MLNX_FW_BASE_URL)/$(MLNX_SPC_FW_FILE)
 
-MLNX_SPC2_FW_VERSION = 29.2014.3534
+MLNX_SPC2_FW_VERSION = 29.2014.3548
 MLNX_SPC2_FW_FILE = fw-SPC2-rel-$(subst .,_,$(MLNX_SPC2_FW_VERSION))-EVB.mfa
 $(MLNX_SPC2_FW_FILE)_PATH = $(MLNX_FW_BASE_PATH)
 $(MLNX_SPC2_FW_FILE)_URL = $(MLNX_FW_BASE_URL)/$(MLNX_SPC2_FW_FILE)
 
-MLNX_SPC3_FW_VERSION = 30.2014.3534
+MLNX_SPC3_FW_VERSION = 30.2014.3548
 MLNX_SPC3_FW_FILE = fw-SPC3-rel-$(subst .,_,$(MLNX_SPC3_FW_VERSION))-EVB.mfa
 $(MLNX_SPC3_FW_FILE)_PATH = $(MLNX_FW_BASE_PATH)
 $(MLNX_SPC3_FW_FILE)_URL = $(MLNX_FW_BASE_URL)/$(MLNX_SPC3_FW_FILE)
 
-MLNX_SPC4_FW_VERSION = 34.2014.3534
+MLNX_SPC4_FW_VERSION = 34.2014.3548
 MLNX_SPC4_FW_FILE = fw-SPC4-rel-$(subst .,_,$(MLNX_SPC4_FW_VERSION))-EVB.mfa
 $(MLNX_SPC4_FW_FILE)_PATH = $(MLNX_FW_BASE_PATH)
 $(MLNX_SPC4_FW_FILE)_URL = $(MLNX_FW_BASE_URL)/$(MLNX_SPC4_FW_FILE)
 
-MLNX_SPC5_FW_VERSION = 37.2014.3534
+MLNX_SPC5_FW_VERSION = 37.2014.3548
 MLNX_SPC5_FW_FILE = fw-SPC5-rel-$(subst .,_,$(MLNX_SPC5_FW_VERSION))-EVB.mfa
 $(MLNX_SPC5_FW_FILE)_PATH = $(MLNX_FW_BASE_PATH)
 $(MLNX_SPC5_FW_FILE)_URL = $(MLNX_FW_BASE_URL)/$(MLNX_SPC5_FW_FILE)
diff --git a/platform/mellanox/sdk.mk b/platform/mellanox/sdk.mk
index 40d75d492b..0e050a08ac 100644
--- a/platform/mellanox/sdk.mk
+++ b/platform/mellanox/sdk.mk
@@ -15,7 +15,7 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 #
-MLNX_SDK_VERSION = 4.7.3536
+MLNX_SDK_VERSION = 4.7.3548
 MLNX_SDK_ISSU_VERSION = 101
 
 MLNX_SDK_DRIVERS_GITHUB_URL = https://github.com/Mellanox/Spectrum-SDK-Drivers