diff --git a/CHANGELOG.md b/CHANGELOG.md
index 24c1e45f2734..9ee2c7eeb31a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -14,6 +14,7 @@
 - `[jest-core]` Run failed tests interactively the same way we do with snapshots ([#10858](https://github.com/facebook/jest/pull/10858))
 - `[jest-core]` more `TestSequencer` methods can be async ([#10980](https://github.com/facebook/jest/pull/10980))
 - `[jest-environment-node]` Add AbortController to globals ([#11182](https://github.com/facebook/jest/pull/11182))
+- `[@jest/fake-timers]` Update to `@sinonjs/fake-timers` to v7 ([#11198](https://github.com/facebook/jest/pull/11198))
 - `[jest-haste-map]` Handle injected scm clocks ([#10966](https://github.com/facebook/jest/pull/10966))
 - `[jest-repl, jest-runner]` [**BREAKING**] Run transforms over environment ([#8751](https://github.com/facebook/jest/pull/8751))
 - `[jest-runner]` [**BREAKING**] set exit code to 1 if test logs after teardown ([#10728](https://github.com/facebook/jest/pull/10728))
diff --git a/packages/jest-fake-timers/package.json b/packages/jest-fake-timers/package.json
index f82084f65cb5..f3b8f9081c1a 100644
--- a/packages/jest-fake-timers/package.json
+++ b/packages/jest-fake-timers/package.json
@@ -15,7 +15,7 @@
   },
   "dependencies": {
     "@jest/types": "^27.0.0-next.3",
-    "@sinonjs/fake-timers": "^6.0.1",
+    "@sinonjs/fake-timers": "^7.0.2",
     "@types/node": "*",
     "jest-message-util": "^27.0.0-next.3",
     "jest-mock": "^27.0.0-next.3",
diff --git a/packages/jest-fake-timers/src/modernFakeTimers.ts b/packages/jest-fake-timers/src/modernFakeTimers.ts
index aba11f4387c6..80cd292a69be 100644
--- a/packages/jest-fake-timers/src/modernFakeTimers.ts
+++ b/packages/jest-fake-timers/src/modernFakeTimers.ts
@@ -102,7 +102,6 @@ export default class FakeTimers {
       this._clock = this._fakeTimers.install({
         loopLimit: this._maxLoops,
         now: Date.now(),
-        target: this._global,
         toFake,
       });
 
diff --git a/packages/jest-fake-timers/tsconfig.json b/packages/jest-fake-timers/tsconfig.json
index 9db8e6cc0ed9..bab863a95702 100644
--- a/packages/jest-fake-timers/tsconfig.json
+++ b/packages/jest-fake-timers/tsconfig.json
@@ -2,7 +2,11 @@
   "extends": "../../tsconfig.json",
   "compilerOptions": {
     "rootDir": "src",
-    "outDir": "build"
+    "outDir": "build",
+    // TODO: remove when shipped types are better
+    "paths": {
+      "@sinonjs/fake-timers": ["../../node_modules/@types/sinonjs__fake-timers"]
+    }
   },
   "references": [
     {"path": "../jest-message-util"},
diff --git a/yarn.lock b/yarn.lock
index 83638517c367..4a2e2adb2e18 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -2500,7 +2500,7 @@ __metadata:
   resolution: "@jest/fake-timers@workspace:packages/jest-fake-timers"
   dependencies:
     "@jest/types": ^27.0.0-next.3
-    "@sinonjs/fake-timers": ^6.0.1
+    "@sinonjs/fake-timers": ^7.0.2
     "@types/node": "*"
     "@types/sinonjs__fake-timers": ^6.0.1
     jest-message-util: ^27.0.0-next.3
@@ -4127,12 +4127,12 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@sinonjs/fake-timers@npm:^6.0.1":
-  version: 6.0.1
-  resolution: "@sinonjs/fake-timers@npm:6.0.1"
+"@sinonjs/fake-timers@npm:^7.0.2":
+  version: 7.0.2
+  resolution: "@sinonjs/fake-timers@npm:7.0.2"
   dependencies:
     "@sinonjs/commons": ^1.7.0
-  checksum: 64458b908773638dda08b555a00e6fbbbc679735348291dc1b7f437ada2f60242537fdc48e4ee82d2573d86984ec87e755b66a96c0ed9ebf0f46b4c6687ccde2
+  checksum: b976616900e9ce005f1790b3227697aba909d546b0aed42c75e38f82780ed81d70031ffd9406363ccde3da7f169f2e8a205ef712113d727f896b6cf91aff5e14
   languageName: node
   linkType: hard