diff --git a/cmd/kubebuilder/initproject/vendor.go b/cmd/kubebuilder/initproject/vendor.go
index 9ea0e95c9e..c4ec627226 100644
--- a/cmd/kubebuilder/initproject/vendor.go
+++ b/cmd/kubebuilder/initproject/vendor.go
@@ -55,7 +55,7 @@ func RunVendorInstall(cmd *cobra.Command, args []string) {
 	if !depExists() {
 		log.Fatalf("Dep is not installed. Follow steps at: https://golang.github.io/dep/docs/installation.html")
 	}
-	if Update {
+	if Update && depManifestExists() {
 		if err := updateDepManifest(); err != nil {
 			log.Fatalf("error upgrading the dep manifest (Gopkg.toml): %v", err)
 		}
@@ -85,6 +85,11 @@ func depExists() bool {
 	return err == nil
 }
 
+func depManifestExists() bool {
+	_, err := os.Stat(depManifestFile)
+	return os.IsExist(err)
+}
+
 func createNewDepManifest() {
 	depTmplArgs := map[string]string{
 		"Version": version.GetVersion().KubeBuilderVersion,