diff --git a/Cargo.lock b/Cargo.lock
index 346e3f45f..0a96a9afb 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -348,7 +348,7 @@ checksum = "baf1de4339761588bc0619e3cbc0120ee582ebb74b53b4efbf79117bd2da40fd"
 
 [[package]]
 name = "cloud-hypervisor"
-version = "35.0.0"
+version = "35.1.0"
 dependencies = [
  "anyhow",
  "api_client",
diff --git a/Cargo.toml b/Cargo.toml
index 0f5750767..4c71e59b6 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "cloud-hypervisor"
-version = "35.0.0"
+version = "35.1.0"
 authors = ["The Cloud Hypervisor Authors"]
 edition = "2021"
 default-run = "cloud-hypervisor"
diff --git a/release-notes.md b/release-notes.md
index 906004591..783ab988a 100644
--- a/release-notes.md
+++ b/release-notes.md
@@ -1,3 +1,4 @@
+- [v35.1](#v351)
 - [v35.0](#v350)
     - [`virtio-vsock` Support for Linux Guest Kernel v6.3+](#virtio-vsock-support-for-linux-guest-kernel-v63)
     - [User Specified Serial Number for `virtio-block`](#user-specified-serial-number-for-virtio-block)
@@ -300,6 +301,16 @@
     - [Unit testing](#unit-testing)
     - [Integration tests parallelization](#integration-tests-parallelization)
 
+# v35.1
+
+This is a bug fix release. The following issues have been addressed:
+
+* Fix a deadlock when TDX is enabled (#5845)
+* Correct default value for vCPU topology on AArch64 (#5893)
+* Fix PvPanic device PCI BAR alignment (#5956)
+* Bug fix to OpenAPI specification file (#5967)
+* Error out early for live migration when TDX is enabled (#6025)
+
 # v35.0
 
 This release has been tracked in our [roadmap
diff --git a/vm-migration/src/lib.rs b/vm-migration/src/lib.rs
index 83a9d0140..02642a97d 100644
--- a/vm-migration/src/lib.rs
+++ b/vm-migration/src/lib.rs
@@ -13,7 +13,7 @@ pub mod protocol;
 
 /// Global VMM version for versioning
 const MAJOR_VERSION: u16 = 35;
-const MINOR_VERSION: u16 = 0;
+const MINOR_VERSION: u16 = 1;
 const VMM_VERSION: u16 = MAJOR_VERSION << 12 | MINOR_VERSION & 0b1111;
 
 pub trait VersionMapped {