diff --git a/package-lock.json b/package-lock.json
index f6b779fe9..546f5d6cf 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -13,7 +13,7 @@
         "@tsconfig/node10": "^1.0.7",
         "@tsconfig/node12": "^1.0.7",
         "@tsconfig/node14": "^1.0.0",
-        "@tsconfig/node16": "^1.0.1",
+        "@tsconfig/node16": "^1.0.2",
         "arg": "^4.1.0",
         "create-require": "^1.1.0",
         "diff": "^4.0.1",
@@ -1086,9 +1086,9 @@
       "integrity": "sha512-RKkL8eTdPv6t5EHgFKIVQgsDapugbuOptNd9OOunN/HAkzmmTnZELx1kNCK0rSdUYGmiFMM3rRQMAWiyp023LQ=="
     },
     "node_modules/@tsconfig/node16": {
-      "version": "1.0.1",
-      "resolved": "https://registry.npmjs.org/@tsconfig/node16/-/node16-1.0.1.tgz",
-      "integrity": "sha512-FTgBI767POY/lKNDNbIzgAX6miIDBs6NTCbdlDb8TrWovHsSvaVIZDlTqym29C6UqhzwcJx4CYr+AlrMywA0cA=="
+      "version": "1.0.2",
+      "resolved": "https://registry.npmjs.org/@tsconfig/node16/-/node16-1.0.2.tgz",
+      "integrity": "sha512-eZxlbI8GZscaGS7kkc/trHTT5xgrjH3/1n2JDwusC9iahPKWMRvRjJSAN5mCXviuTGQ/lHnhvv8Q1YTpnfz9gA=="
     },
     "node_modules/@types/argparse": {
       "version": "1.0.38",
@@ -7255,9 +7255,9 @@
       "integrity": "sha512-RKkL8eTdPv6t5EHgFKIVQgsDapugbuOptNd9OOunN/HAkzmmTnZELx1kNCK0rSdUYGmiFMM3rRQMAWiyp023LQ=="
     },
     "@tsconfig/node16": {
-      "version": "1.0.1",
-      "resolved": "https://registry.npmjs.org/@tsconfig/node16/-/node16-1.0.1.tgz",
-      "integrity": "sha512-FTgBI767POY/lKNDNbIzgAX6miIDBs6NTCbdlDb8TrWovHsSvaVIZDlTqym29C6UqhzwcJx4CYr+AlrMywA0cA=="
+      "version": "1.0.2",
+      "resolved": "https://registry.npmjs.org/@tsconfig/node16/-/node16-1.0.2.tgz",
+      "integrity": "sha512-eZxlbI8GZscaGS7kkc/trHTT5xgrjH3/1n2JDwusC9iahPKWMRvRjJSAN5mCXviuTGQ/lHnhvv8Q1YTpnfz9gA=="
     },
     "@types/argparse": {
       "version": "1.0.38",
diff --git a/package.json b/package.json
index d7872b0f8..c28492c17 100644
--- a/package.json
+++ b/package.json
@@ -161,7 +161,7 @@
     "@tsconfig/node10": "^1.0.7",
     "@tsconfig/node12": "^1.0.7",
     "@tsconfig/node14": "^1.0.0",
-    "@tsconfig/node16": "^1.0.1",
+    "@tsconfig/node16": "^1.0.2",
     "arg": "^4.1.0",
     "create-require": "^1.1.0",
     "diff": "^4.0.1",
diff --git a/src/test/index.spec.ts b/src/test/index.spec.ts
index c8c8a7e4b..a9d7b91f9 100644
--- a/src/test/index.spec.ts
+++ b/src/test/index.spec.ts
@@ -1248,6 +1248,9 @@ test.suite('ts-node', (test) => {
           semver.gte(ts.version, '3.5.0') &&
           semver.gte(process.versions.node, '14.0.0')
         ) {
+          const libAndTarget = semver.gte(process.versions.node, '16.0.0')
+            ? 'es2021'
+            : 'es2020';
           test('implicitly uses @tsconfig/node14 or @tsconfig/node16 compilerOptions when both TS and node versions support it', async (t) => {
             // node14 and node16 configs are identical, hence the "or"
             const {
@@ -1261,8 +1264,8 @@ test.suite('ts-node', (test) => {
             expect(err1).to.equal(null);
             t.like(JSON.parse(stdout1), {
               compilerOptions: {
-                target: 'es2020',
-                lib: ['es2020'],
+                target: libAndTarget,
+                lib: [libAndTarget],
               },
             });
             const {