diff --git a/.env b/.env
index ad57be31..97cbb65b 100644
--- a/.env
+++ b/.env
@@ -1,5 +1,5 @@
 # Globals
-VERSION="1.2.17"
+VERSION="1.3.1"
 CEPH_VERSION="18.2.4"
 SPDK_VERSION="24.01"
 CONTAINER_REGISTRY="quay.io/ceph"
diff --git a/pyproject.toml b/pyproject.toml
index 82b9e94e..ddf4e6e8 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "pdm.backend"
 
 [project]
 name = "ceph-nvmeof"
-version = "1.2.17"
+version = "1.3.1"
 description = "Service to provide Ceph storage over NVMe-oF protocol"
 readme = "README.md"
 requires-python = "~=3.9"