diff --git a/CHANGELOG.md b/CHANGELOG.md
index ea5eca4584..9c93ad6dfc 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,7 @@
 ### 💡 Enhancements 💡
 
 - (Splunk) `receiver/smartagent`: Use `Leases` instead of `ConfigMapLeases` for leader-election in k8s. ([#3521](https://github.com/signalfx/splunk-otel-collector/pull/3521))
+- (Splunk) Update bundled python to 3.11.5 ([#3543](https://github.com/signalfx/splunk-otel-collector/pull/3543))
 
 ## v0.83.0
 
diff --git a/internal/signalfx-agent/bundle/Dockerfile b/internal/signalfx-agent/bundle/Dockerfile
index 070d39f09d..d895bf8c42 100644
--- a/internal/signalfx-agent/bundle/Dockerfile
+++ b/internal/signalfx-agent/bundle/Dockerfile
@@ -15,7 +15,7 @@
 ARG ARCH=amd64
 ARG JDK_VERSION=11.0.20_8
 ARG MAVEN_VERSION=3.6.0
-ARG PYTHON_VERSION=3.11.3
+ARG PYTHON_VERSION=3.11.5
 ARG PIP_VERSION=21.0.1
 ARG COLLECTD_VERSION=5.8.0-sfx0
 ARG COLLECTD_COMMIT=4d3327b14cf4359029613baf4f90c4952702105e
diff --git a/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1 b/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1
index f73e89580c..ba45b49463 100644
--- a/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1
+++ b/internal/signalfx-agent/bundle/scripts/windows/bundle.ps1
@@ -18,7 +18,7 @@ $repoDir = "$scriptDir\..\..\..\..\.."
 . $scriptDir\common.ps1
 
 $BUILD_DIR="$repoDir\build"
-$PYTHON_VERSION="3.11.3"
+$PYTHON_VERSION="3.11.5"
 $PIP_VERSION="21.0.1"
 $NUGET_URL="https://aka.ms/nugetclidl"
 $NUGET_EXE="nuget.exe"