We update the estimate of CP violating observables in hyperon decays. We consider the effect of a heavy top quark, as well as recent bounds on the CKM angles. We present an estimate of the uncertainties associated with the evaluation of the hadronic matrix elements by comparing different models. We find that A (LAMBDA--o) is likely to occur at the 10(-5) level within the standard model, although it could reach 10(-4).