diff --git a/Cargo.lock b/Cargo.lock
index 12fffb7f3..c1e9b347a 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -148,7 +148,7 @@ dependencies = [
 
 [[package]]
 name = "cloud-hypervisor"
-version = "23.0.0"
+version = "23.1.0"
 dependencies = [
  "anyhow",
  "api_client",
diff --git a/Cargo.toml b/Cargo.toml
index 3d8957762..b8db9cd5a 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "cloud-hypervisor"
-version = "23.0.0"
+version = "23.1.0"
 authors = ["The Cloud Hypervisor Authors"]
 edition = "2021"
 default-run = "cloud-hypervisor"
diff --git a/release-notes.md b/release-notes.md
index 4182df9d7..2ebc78a23 100644
--- a/release-notes.md
+++ b/release-notes.md
@@ -1,3 +1,4 @@
+- [v23.1](#v231)
 - [v23.0](#v230)
     - [vDPA Support](#vdpa-support)
     - [Updated OS Support list](#updated-os-support-list)
@@ -202,6 +203,15 @@
     - [Console over virtio](#console-over-virtio)
     - [Unit testing](#unit-testing)
     - [Integration tests parallelization](#integration-tests-parallelization)
+# v23.1
+
+This is a bug fix release. The following issues have been addressed:
+
+* Add some missing seccomp rules
+* Remove `virtio-fs` filesystem entries from config on removal
+* Do not delete API socket on API server start (#4026)
+* Reject `virtio-mem` resize if the guest doesn't activate the device
+* Fix OpenAPI naming of I/O throttling knobs
 
 # v23.0
 
diff --git a/rpm/cloud-hypervisor.spec b/rpm/cloud-hypervisor.spec
index 908fb2227..4b7722c87 100644
--- a/rpm/cloud-hypervisor.spec
+++ b/rpm/cloud-hypervisor.spec
@@ -9,7 +9,7 @@
 
 Name:           cloud-hypervisor
 Summary:        Cloud Hypervisor is an open source Virtual Machine Monitor (VMM) that runs on top of KVM.
-Version:        23.0
+Version:        23.1
 Release:        0%{?dist}
 License:        ASL 2.0 or BSD-3-clause
 Group:          Applications/System
@@ -112,6 +112,9 @@ rm -rf %{buildroot}
 
 
 %changelog
+*   Mon May 09 2022 Rob Bradford <robert.bradford@intel.com> 23.1-0
+-   Update to 23.1
+
 *   Thu Apr 13 2022 Rob Bradford <robert.bradford@intel.com> 23.0-0
 -   Update to 23.0