diff --git a/config/calico_versions.yml b/config/calico_versions.yml
index 6f759d4ded..6d90b4895c 100644
--- a/config/calico_versions.yml
+++ b/config/calico_versions.yml
@@ -1,19 +1,19 @@
 # Components defined here are required to be kept in sync with hack/gen-versions/calico.go.tpl
-title: v3.23.0
+title: v3.23.1
 components:
   libcalico-go:
-    version: v3.23.0
+    version: v3.23.1
   typha:
-    version: v3.23.0
+    version: v3.23.1
   calico/node:
-    version: v3.23.0
+    version: v3.23.1
   calico/cni:
-    version: v3.23.0
+    version: v3.23.1
   calico/kube-controllers:
-    version: v3.23.0
+    version: v3.23.1
   flexvol:
-    version: v3.23.0
+    version: v3.23.1
   calico/apiserver:
-    version: v3.23.0
+    version: v3.23.1
   calico/windows-upgrade:
-    version: v3.23.0
+    version: v3.23.1
diff --git a/pkg/components/calico.go b/pkg/components/calico.go
index f270e2900e..653c67f1c3 100644
--- a/pkg/components/calico.go
+++ b/pkg/components/calico.go
@@ -20,40 +20,40 @@ package components
 import "github.com/tigera/operator/version"
 
 var (
-	CalicoRelease string = "v3.23.0"
+	CalicoRelease string = "v3.23.1"
 
 	ComponentCalicoCNI = component{
-		Version: "v3.23.0",
+		Version: "v3.23.1",
 		Image:   "calico/cni",
 	}
 
 	ComponentCalicoKubeControllers = component{
-		Version: "v3.23.0",
+		Version: "v3.23.1",
 		Image:   "calico/kube-controllers",
 	}
 
 	ComponentCalicoNode = component{
-		Version: "v3.23.0",
+		Version: "v3.23.1",
 		Image:   "calico/node",
 	}
 
 	ComponentCalicoTypha = component{
-		Version: "v3.23.0",
+		Version: "v3.23.1",
 		Image:   "calico/typha",
 	}
 
 	ComponentFlexVolume = component{
-		Version: "v3.23.0",
+		Version: "v3.23.1",
 		Image:   "calico/pod2daemon-flexvol",
 	}
 
 	ComponentCalicoAPIServer = component{
-		Version: "v3.23.0",
+		Version: "v3.23.1",
 		Image:   "calico/apiserver",
 	}
 
 	ComponentWindows = component{
-		Version: "v3.23.0",
+		Version: "v3.23.1",
 		Image:   "calico/windows-upgrade",
 	}
 	ComponentOperatorInit = component{