diff --git a/ports/materialx/portfile.cmake b/ports/materialx/portfile.cmake
index da56e07be0..f4e619f15a 100644
--- a/ports/materialx/portfile.cmake
+++ b/ports/materialx/portfile.cmake
@@ -1,8 +1,8 @@
 vcpkg_from_github(
     OUT_SOURCE_PATH SOURCE_PATH
     REPO AcademySoftwareFoundation/MaterialX
-    REF b1ba83b312576fc58f02a6a7db40b18ddbe4f87f # 1.38.4
-    SHA512 3988c42d487e391f9f0f3ab5f34eaa26c7f450079695d96954b871e078eecfe692daa9917279560ba3f10bf771685df3da6e26273d575a23a11c3d17fb897c62
+    REF "v${VERSION}"
+    SHA512 64d5b989fdddfd9d1b21f9dccf914d2674a23c9fd9d24f121ff451ab333e359dc8ab253f72827d68cd2ed59b0c03a51818cc71aa2adf5adfe74eabe0fd58c682
     HEAD_REF main
 )
 
diff --git a/ports/materialx/vcpkg.json b/ports/materialx/vcpkg.json
index 60fc20236c..cdeb95db34 100644
--- a/ports/materialx/vcpkg.json
+++ b/ports/materialx/vcpkg.json
@@ -1,6 +1,6 @@
 {
   "name": "materialx",
-  "version": "1.38.4",
+  "version": "1.38.8",
   "description": "MaterialX is an open standard for the exchange of rich material and look-development content across applications and renderers.",
   "homepage": "https://www.materialx.org/",
   "license": "Apache-2.0",
diff --git a/versions/baseline.json b/versions/baseline.json
index 5a460703d8..ca1bff82f5 100644
--- a/versions/baseline.json
+++ b/versions/baseline.json
@@ -5397,7 +5397,7 @@
       "port-version": 0
     },
     "materialx": {
-      "baseline": "1.38.4",
+      "baseline": "1.38.8",
       "port-version": 0
     },
     "mathc": {
diff --git a/versions/m-/materialx.json b/versions/m-/materialx.json
index b2b5b23462..4d6eb2c12b 100644
--- a/versions/m-/materialx.json
+++ b/versions/m-/materialx.json
@@ -1,5 +1,10 @@
 {
   "versions": [
+    {
+      "git-tree": "b8895aa1059cf4106a82265c242871ae6db5b815",
+      "version": "1.38.8",
+      "port-version": 0
+    },
     {
       "git-tree": "f0dc3a4ac664a5b4fe18a946a35965b519c148e7",
       "version": "1.38.4",