diff --git a/packages/shipjs/src/helper/__tests__/dependencyUpdater.spec.js b/packages/shipjs/src/helper/__tests__/dependencyUpdater.spec.js
new file mode 100644
index 00000000..95070c22
--- /dev/null
+++ b/packages/shipjs/src/helper/__tests__/dependencyUpdater.spec.js
@@ -0,0 +1,104 @@
+import { getListToUpdate, printListToUpdate } from '../dependencyUpdater';
+import { print } from '../../util';
+import { mockPrint } from '../../../tests/util';
+
+describe('getListToUpdate', () => {
+  const list = [
+    {
+      packagePath: 'packages/package-core',
+      json: {
+        name: 'core',
+      },
+    },
+    {
+      packagePath: 'packages/package-js',
+      json: {
+        name: 'js',
+        dependencies: {
+          core: '^0.3.1',
+        },
+      },
+    },
+    {
+      packagePath: 'packages/package-plugin-abc',
+      json: {
+        name: 'plugin-abc',
+        dependencies: {
+          core: '0.3.1',
+        },
+        peerDependencies: {
+          js: '~0.3.1',
+        },
+        devDependencies: {
+          js: '^0.3.1',
+        },
+      },
+    },
+  ];
+
+  it('gets correct list', () => {
+    const actual = getListToUpdate('0.3.2', list);
+    expect(actual).toEqual([
+      {
+        name: 'js',
+        packagePath: 'packages/package-js',
+        updates: {
+          dependencies: [
+            {
+              currentVersion: '^0.3.1',
+              dependency: 'core',
+              nextVersion: '^0.3.2',
+            },
+          ],
+        },
+      },
+      {
+        name: 'plugin-abc',
+        packagePath: 'packages/package-plugin-abc',
+        updates: {
+          dependencies: [
+            {
+              currentVersion: '0.3.1',
+              dependency: 'core',
+              nextVersion: '0.3.2',
+            },
+          ],
+          devDependencies: [
+            {
+              currentVersion: '^0.3.1',
+              dependency: 'js',
+              nextVersion: '^0.3.2',
+            },
+          ],
+          peerDependencies: [
+            {
+              currentVersion: '~0.3.1',
+              dependency: 'js',
+              nextVersion: '~0.3.2',
+            },
+          ],
+        },
+      },
+    ]);
+  });
+
+  it('prints the correct update list', () => {
+    const output = [];
+    mockPrint(print, output);
+    printListToUpdate(getListToUpdate('0.3.2', list));
+    expect(output).toMatchInlineSnapshot(`
+      Array [
+        "  package: js (packages/package-js}/package.json)",
+        "    dependencies:",
+        "      core: ^0.3.1 -> ^0.3.2",
+        "  package: plugin-abc (packages/package-plugin-abc}/package.json)",
+        "    dependencies:",
+        "      core: 0.3.1 -> 0.3.2",
+        "    devDependencies:",
+        "      js: ^0.3.1 -> ^0.3.2",
+        "    peerDependencies:",
+        "      js: ~0.3.1 -> ~0.3.2",
+      ]
+    `);
+  });
+});
diff --git a/packages/shipjs/src/helper/dependencyUpdater.js b/packages/shipjs/src/helper/dependencyUpdater.js
new file mode 100644
index 00000000..048d8023
--- /dev/null
+++ b/packages/shipjs/src/helper/dependencyUpdater.js
@@ -0,0 +1,119 @@
+import { resolve } from 'path';
+import { readFileSync, writeFileSync } from 'fs';
+import { print } from '../util';
+import { runPrettier } from '../helper';
+
+const typesOfDependencies = [
+  'dependencies',
+  'devDependencies',
+  'peerDependencies',
+];
+
+export function getListToUpdate(_nextVersion, list) {
+  const packageNames = list.map(({ json }) => json.name);
+
+  return list
+    .map(({ packagePath, json }) => {
+      const updates = typesOfDependencies
+        .map((dependencyType) => {
+          let dependenciesToUpdate = Object.keys(
+            json[dependencyType] || {}
+          ).filter((dependency) => packageNames.includes(dependency));
+
+          dependenciesToUpdate = dependenciesToUpdate
+            .map((dependencyToUpdate) => {
+              const currentVersion = json[dependencyType][dependencyToUpdate];
+              const prefix =
+                currentVersion.startsWith('~') || currentVersion.startsWith('^')
+                  ? currentVersion[0]
+                  : '';
+              const nextVersion = `${prefix}${_nextVersion}`;
+              if (currentVersion !== nextVersion) {
+                return {
+                  dependency: dependencyToUpdate,
+                  currentVersion,
+                  nextVersion,
+                };
+              } else {
+                return null;
+              }
+            })
+            .filter(Boolean);
+
+          if (dependenciesToUpdate.length === 0) {
+            return null;
+          } else {
+            return {
+              type: dependencyType,
+              dependenciesToUpdate,
+            };
+          }
+        })
+        .filter(Boolean);
+
+      if (updates.length === 0) {
+        return null;
+      } else {
+        return {
+          packagePath,
+          name: json.name,
+          updates: updates.reduce((acc, { type, dependenciesToUpdate }) => {
+            // eslint-disable-next-line no-param-reassign
+            acc[type] = dependenciesToUpdate;
+            return acc;
+          }, {}),
+        };
+      }
+    })
+    .filter(Boolean);
+}
+
+export function printListToUpdate(list) {
+  list.forEach(({ name, packagePath, updates }) => {
+    print(`  package: ${name} (${packagePath}}/package.json)`);
+    Object.keys(updates).forEach((dependencyType) => {
+      print(`    ${dependencyType}:`);
+      updates[dependencyType].forEach(
+        ({ dependency, currentVersion, nextVersion }) => {
+          print(`      ${dependency}: ${currentVersion} -> ${nextVersion}`);
+        }
+      );
+    });
+  });
+}
+
+export async function runUpdates(list) {
+  list.forEach(({ name, packagePath, updates }) => {
+    print(`  package: ${name} (${packagePath}}/package.json)`);
+    const filePath = resolve(packagePath, 'package.json');
+    const json = JSON.parse(readFileSync(filePath).toString());
+    Object.keys(updates).forEach((dependencyType) => {
+      print(`    ${dependencyType}:`);
+      updates[dependencyType].forEach(
+        ({ dependency, currentVersion, nextVersion }) => {
+          print(`      ${dependency}: ${currentVersion} -> ${nextVersion}`);
+          json[dependencyType][dependency] = nextVersion;
+        }
+      );
+    });
+    writeFileSync(filePath, JSON.stringify(json, null, 2));
+  });
+
+  await Promise.all(
+    list.map(({ packagePath }) =>
+      runPrettier({
+        filePath: resolve(packagePath, 'package.json'),
+        dir: packagePath,
+      })
+    )
+  );
+}
+
+export function prepareJsons(packageList) {
+  return packageList.map((packagePath) => ({
+    packagePath,
+    json: JSON.parse(
+      readFileSync(resolve(packagePath, 'package.json')).toString()
+    ),
+  }));
+}
diff --git a/packages/shipjs/src/step/prepare/__tests__/updateVersionMonorepo.spec.js b/packages/shipjs/src/step/prepare/__tests__/updateVersionMonorepo.spec.js
index 259d53d3..2b53b870 100644
--- a/packages/shipjs/src/step/prepare/__tests__/updateVersionMonorepo.spec.js
+++ b/packages/shipjs/src/step/prepare/__tests__/updateVersionMonorepo.spec.js
@@ -1,8 +1,23 @@
 import { expandPackageList, updateVersion } from 'shipjs-lib';
 import { print } from '../../../util';
+import { prepareJsons } from '../../../helper/dependencyUpdater';
+
+jest.mock('../../../helper/dependencyUpdater', () => {
+  return {
+    ...jest.requireActual('../../../helper/dependencyUpdater'),
+    prepareJsons: jest.fn(() => []),
+  };
+});
+
 import updateVersionMonorepo from '../updateVersionMonorepo';
 import { mockPrint } from '../../../../tests/util';
 
+jest.mock('../updateVersionMonorepo', () => {
+  const newModule = jest.requireActual('../updateVersionMonorepo');
+  newModule.prepareJsons = jest.fn(() => []);
+  return newModule;
+});
+
 describe('updateVersionMonorepo', () => {
   it('works', () => {
     expandPackageList.mockImplementationOnce(() => [
@@ -66,6 +81,7 @@ describe('updateVersionMonorepo', () => {
     ]);
     const output = [];
     mockPrint(print, output);
+    prepareJsons.mockImplementation(() => []);
     updateVersionMonorepo({
       config: {
         versionUpdated: () => {},
@@ -84,6 +100,7 @@ describe('updateVersionMonorepo', () => {
         "Actual packages to bump:",
         "-> packages/a/package.json",
         "-> packages/b/package.json",
+        "Updating dependencies:",
         "-> execute versionUpdated() callback.",
       ]
     `);
diff --git a/packages/shipjs/src/step/prepare/updateVersionMonorepo.js b/packages/shipjs/src/step/prepare/updateVersionMonorepo.js
index 6099dc99..9df56f74 100644
--- a/packages/shipjs/src/step/prepare/updateVersionMonorepo.js
+++ b/packages/shipjs/src/step/prepare/updateVersionMonorepo.js
@@ -2,6 +2,12 @@ import { expandPackageList, updateVersion } from 'shipjs-lib';
 import runStep from '../runStep';
 import { wrapExecWithDir, print } from '../../util';
 import { info } from '../../color';
+import {
+  printListToUpdate,
+  getListToUpdate,
+  prepareJsons,
+  runUpdates,
+} from '../../helper/dependencyUpdater';
 
 export default async ({ config, nextVersion, releaseType, dir, dryRun }) =>
   await runStep(
@@ -9,9 +15,14 @@ export default async ({ config, nextVersion, releaseType, dir, dryRun }) =>
     async () => {
       const {
         versionUpdated,
-        monorepo: { mainVersionFile, packagesToBump },
+        monorepo: {
+          mainVersionFile,
+          packagesToBump,
+          updateDependencies = true,
+        },
       } = config;
       const packageList = expandPackageList(packagesToBump, dir);
+
       if (dryRun) {
         print(`Your configuration: ${JSON.stringify(packagesToBump)}`);
         print(`Main version file: ${mainVersionFile}`);
@@ -19,6 +30,16 @@ export default async ({ config, nextVersion, releaseType, dir, dryRun }) =>
         packageList.forEach((packageDir) =>
           print(`-> ${info(`${packageDir}/package.json`)}`)
         );
+
+        if (updateDependencies) {
+          print(`Updating dependencies:`);
+          printListToUpdate(
+            getListToUpdate(nextVersion, prepareJsons(packageList))
+          );
+        } else {
+          print(`Not updating dependencies.`);
+        }
+
         if (versionUpdated) {
           print(`-> execute ${info('versionUpdated()')} callback.`);
         }
@@ -30,6 +51,12 @@ export default async ({ config, nextVersion, releaseType, dir, dryRun }) =>
         print(`-> ${info(`${packageDir}/package.json`)}`);
         updateVersion({ nextVersion, dir: packageDir });
       });
+
+      if (updateDependencies) {
+        print(`Updating dependencies:`);
+        runUpdates(getListToUpdate(nextVersion, prepareJsons(packageList)));
+      }
+
       if (versionUpdated) {
         await versionUpdated({
           version: nextVersion,
diff --git a/ship.config.js b/ship.config.js
index f7de4c71..0b422599 100644
--- a/ship.config.js
+++ b/ship.config.js
@@ -13,16 +13,6 @@ module.exports = {
       json.version = version;
     });
 
-    // update package.json
-    updateJson(dir, "package.json", (json) => {
-      json.version = version;
-    });
-
-    // update dependency
-    updateJson(dir, "packages/shipjs/package.json", (json) => {
-      json.dependencies["shipjs-lib"] = version;
-    });
-
     // update `version.js`
     fs.writeFileSync(
       path.resolve(dir, "packages/shipjs/src/version.js"),
diff --git a/website/reference/all-config.md b/website/reference/all-config.md
index bde98bd4..92423b71 100644
--- a/website/reference/all-config.md
+++ b/website/reference/all-config.md
@@ -11,6 +11,7 @@ module.exports = {
     mainVersionFile: 'package.json',
     packagesToBump: ['packages/*', 'examples/*'],
     packagesToPublish: ['packages/*'],
+    updateDependencies: true // optional, default: true
   },
 };
 ```
@@ -21,13 +22,33 @@ If `monorepo` is defined, Ship.js will treat the project as a monorepo.
 Ship.js currently does not provide independent versioning. It means all the packages in the monorepo must have the same version.
 :::
 
-- **`shipjs prepare`**
+### **`shipjs prepare`**
 
 1. Ship.js reads version from `mainVersionFile`.
 2. When next version is decided, Ship.js will update the version at `mainVersionFile`.
 3. Ship.js will update all the versions in `packagesToBump`.
+4. When `updateDependencies: true`, it updates the dependencies, too.
 
-- **`shipjs trigger`**
+For example,
+
+```js
+// ship.config.js
+packagesToBump: ['packages/my-package-core', 'packages/my-package-js']
+```
+
+```js
+// packages/my-package-js/package.json
+{
+  ...
+  "dependencies": {
+    "my-package-core": "^x.y.z"
+  }
+}
+```
+
+Ship.js will check `dependencies`, `devDependencies` and `peerDependencies` and update the version to the latest. If you don't want this behavior, put `updateDependencies: false` in the config.
+
+### **`shipjs trigger`**
 
 1. Ship.js will only publish the packages from `packagesToPublish`.