diff --git a/CMakeLists.txt b/CMakeLists.txt
index bb87d7d..d1c2bfe 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -16,7 +16,7 @@ endif()
 add_definitions(-DPERIPHERY_GPIO_CDEV_SUPPORT=$<BOOL:${HAVE_CDEV_GPIO_HEADERS}>)
 
 # Library version
-set(VERSION "2.3.0")
+set(VERSION "2.3.1")
 set(SOVERSION ${VERSION})
 
 # Glob sources, headers, tests
diff --git a/src/version.h b/src/version.h
index 93cb9aa..39c6965 100644
--- a/src/version.h
+++ b/src/version.h
@@ -13,7 +13,7 @@ extern "C" {
 
 #define PERIPHERY_VERSION_MAJOR 2
 #define PERIPHERY_VERSION_MINOR 3
-#define PERIPHERY_VERSION_PATCH 0
+#define PERIPHERY_VERSION_PATCH 1
 
 #ifndef PERIPHERY_VERSION_COMMIT
 #define PERIPHERY_VERSION_COMMIT "unknown"