diff --git a/version/version.go b/version/version.go
index 746ded1a3f3..e3348377137 100644
--- a/version/version.go
+++ b/version/version.go
@@ -26,7 +26,7 @@ import (
 var (
 	// MinClusterVersion is the min cluster version this etcd binary is compatible with.
 	MinClusterVersion = "3.0.0"
-	Version           = "3.4.31"
+	Version           = "3.4.32"
 	APIVersion        = "unknown"
 
 	// Git SHA Value will be set during build