diff --git a/CHANGELOG.md b/CHANGELOG.md
index cbfeea637..0839c1d4b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,8 @@ and this project's packages adheres to [Semantic Versioning](http://semver.org/s
 
 ## [Unreleased]
 
+## [2.3.1] - 2020-09-22
+
 ### Added
 
 - Added event count metrics for delete, install, rollback and update of Helm releases.
@@ -173,7 +175,8 @@ from Helm 2 to Helm 3.
 
 - Flattening operator release structure.
 
-[Unreleased]: https://github.com/giantswarm/app-operator/compare/v2.3.0...HEAD
+[Unreleased]: https://github.com/giantswarm/app-operator/compare/v2.3.1...HEAD
+[2.3.1]: https://github.com/giantswarm/app-operator/compare/v2.3.0...v2.3.1
 [2.3.0]: https://github.com/giantswarm/app-operator/compare/v2.2.0...v2.3.0
 [2.2.0]: https://github.com/giantswarm/app-operator/compare/v2.1.1...v2.2.0
 [2.1.1]: https://github.com/giantswarm/app-operator/compare/v2.1.0...v2.1.1
diff --git a/pkg/project/project.go b/pkg/project/project.go
index 118cd8164..73be94520 100644
--- a/pkg/project/project.go
+++ b/pkg/project/project.go
@@ -5,7 +5,7 @@ var (
 	gitSHA      = "n/a"
 	name        = "app-operator"
 	source      = "https://github.com/giantswarm/app-operator"
-	version     = "2.3.0"
+	version     = "2.3.1"
 )
 
 // AppControlPlaneVersion is always 0.0.0 for control plane app CRs. These CRs