diff --git a/CHANGELOG.md b/CHANGELOG.md
index bd4b8bb442..3e74afc9e9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Changelog
 
-## [Unreleased]
+## [v1.23.1] - 2023-06-30
 
 - Fix issue where `buf beta graph` would not print modules within a workspace that
   had no dependencies or dependents.
@@ -910,7 +910,7 @@ buf check breaking proto --against .git#branch=master,subdir=proto
 
 Initial beta release.
 
-[Unreleased]: https://github.com/bufbuild/buf/compare/v1.23.0...HEAD
+[v1.23.1]: https://github.com/bufbuild/buf/compare/v1.23.0...v1.23.1
 [v1.23.0]: https://github.com/bufbuild/buf/compare/v1.22.0...v1.23.0
 [v1.22.0]: https://github.com/bufbuild/buf/compare/v1.21.0...v1.22.0
 [v1.21.0]: https://github.com/bufbuild/buf/compare/v1.20.0...v1.21.0
diff --git a/private/buf/bufcli/bufcli.go b/private/buf/bufcli/bufcli.go
index f7788e8ed1..25cf10d86a 100644
--- a/private/buf/bufcli/bufcli.go
+++ b/private/buf/bufcli/bufcli.go
@@ -65,7 +65,7 @@ import (
 
 const (
 	// Version is the CLI version of buf.
-	Version = "1.23.1-dev"
+	Version = "1.23.1"
 
 	inputHTTPSUsernameEnvKey      = "BUF_INPUT_HTTPS_USERNAME"
 	inputHTTPSPasswordEnvKey      = "BUF_INPUT_HTTPS_PASSWORD"