diff --git a/DESCRIPTION.md b/DESCRIPTION.md
index 2bde31909..46f2966ea 100644
--- a/DESCRIPTION.md
+++ b/DESCRIPTION.md
@@ -8,10 +8,10 @@ Source code is also available at: https://github.com/snowflakedb/snowflake-conne
 
 # Release Notes
 
-- v3.12.1(TBD)
-  - Fixed a bug that session token is logged when renewing session.
-  - Fixed a bug that disabling client telemetry does not work.
-  - Fixed a bug where `login_timeout` when passed as string raised `TypeError` during login retry step.
+- v3.12.1(August 20,2024)
+  - Fixed a bug that logged the session token when renewing a session.
+  - Fixed a bug where disabling client telemetry did not work.
+  - Fixed a bug where passing `login_timeout` as a string raised a `TypeError` during the login retry step.
   - Use `pathlib` instead of `os` for default config file location resolution.
   - Removed upper `cryptogaphy` version pin.
   - Removed reference to script `snowflake-export-certs` (its backing module was already removed long ago)
diff --git a/src/snowflake/connector/version.py b/src/snowflake/connector/version.py
index 1c546ee0c..e210b5b60 100644
--- a/src/snowflake/connector/version.py
+++ b/src/snowflake/connector/version.py
@@ -1,3 +1,3 @@
 # Update this for the versions
 # Don't change the forth version number from None
-VERSION = (3, 12, 0, None)
+VERSION = (3, 12, 1, None)
diff --git a/tested_requirements/requirements_310.reqs b/tested_requirements/requirements_310.reqs
index 5833e9684..267b159f1 100644
--- a/tested_requirements/requirements_310.reqs
+++ b/tested_requirements/requirements_310.reqs
@@ -1,20 +1,20 @@
 # Generated on: Python 3.10.14
 asn1crypto==1.5.1
 certifi==2024.7.4
-cffi==1.16.0
+cffi==1.17.0
 charset-normalizer==3.3.2
-cryptography==42.0.8
+cryptography==43.0.0
 filelock==3.15.4
 idna==3.7
 packaging==24.1
 platformdirs==4.2.2
 pycparser==2.22
-PyJWT==2.8.0
+PyJWT==2.9.0
 pyOpenSSL==24.2.1
 pytz==2024.1
 requests==2.32.3
 sortedcontainers==2.4.0
-tomlkit==0.13.0
+tomlkit==0.13.2
 typing_extensions==4.12.2
 urllib3==2.2.2
-snowflake-connector-python==3.12.0
+snowflake-connector-python==3.12.1
diff --git a/tested_requirements/requirements_311.reqs b/tested_requirements/requirements_311.reqs
index 217a36e1d..7158b6993 100644
--- a/tested_requirements/requirements_311.reqs
+++ b/tested_requirements/requirements_311.reqs
@@ -1,20 +1,20 @@
 # Generated on: Python 3.11.9
 asn1crypto==1.5.1
 certifi==2024.7.4
-cffi==1.16.0
+cffi==1.17.0
 charset-normalizer==3.3.2
-cryptography==42.0.8
+cryptography==43.0.0
 filelock==3.15.4
 idna==3.7
 packaging==24.1
 platformdirs==4.2.2
 pycparser==2.22
-PyJWT==2.8.0
+PyJWT==2.9.0
 pyOpenSSL==24.2.1
 pytz==2024.1
 requests==2.32.3
 sortedcontainers==2.4.0
-tomlkit==0.13.0
+tomlkit==0.13.2
 typing_extensions==4.12.2
 urllib3==2.2.2
-snowflake-connector-python==3.12.0
+snowflake-connector-python==3.12.1
diff --git a/tested_requirements/requirements_312.reqs b/tested_requirements/requirements_312.reqs
index 8f8181281..95540239c 100644
--- a/tested_requirements/requirements_312.reqs
+++ b/tested_requirements/requirements_312.reqs
@@ -1,22 +1,22 @@
 # Generated on: Python 3.12.4
 asn1crypto==1.5.1
 certifi==2024.7.4
-cffi==1.16.0
+cffi==1.17.0
 charset-normalizer==3.3.2
-cryptography==42.0.8
+cryptography==43.0.0
 filelock==3.15.4
 idna==3.7
 packaging==24.1
 platformdirs==4.2.2
 pycparser==2.22
-PyJWT==2.8.0
+PyJWT==2.9.0
 pyOpenSSL==24.2.1
 pytz==2024.1
 requests==2.32.3
-setuptools==71.1.0
+setuptools==73.0.0
 sortedcontainers==2.4.0
-tomlkit==0.13.0
+tomlkit==0.13.2
 typing_extensions==4.12.2
 urllib3==2.2.2
-wheel==0.43.0
-snowflake-connector-python==3.12.0
+wheel==0.44.0
+snowflake-connector-python==3.12.1
diff --git a/tested_requirements/requirements_38.reqs b/tested_requirements/requirements_38.reqs
index 97dd2b537..804e90700 100644
--- a/tested_requirements/requirements_38.reqs
+++ b/tested_requirements/requirements_38.reqs
@@ -1,20 +1,20 @@
 # Generated on: Python 3.8.18
 asn1crypto==1.5.1
 certifi==2024.7.4
-cffi==1.16.0
+cffi==1.17.0
 charset-normalizer==3.3.2
-cryptography==42.0.8
+cryptography==43.0.0
 filelock==3.15.4
 idna==3.7
 packaging==24.1
 platformdirs==4.2.2
 pycparser==2.22
-PyJWT==2.8.0
+PyJWT==2.9.0
 pyOpenSSL==24.2.1
 pytz==2024.1
 requests==2.32.3
 sortedcontainers==2.4.0
-tomlkit==0.13.0
+tomlkit==0.13.2
 typing_extensions==4.12.2
 urllib3==1.26.19
-snowflake-connector-python==3.12.0
+snowflake-connector-python==3.12.1
diff --git a/tested_requirements/requirements_39.reqs b/tested_requirements/requirements_39.reqs
index 380221549..e01155ba7 100644
--- a/tested_requirements/requirements_39.reqs
+++ b/tested_requirements/requirements_39.reqs
@@ -1,20 +1,20 @@
 # Generated on: Python 3.9.19
 asn1crypto==1.5.1
 certifi==2024.7.4
-cffi==1.16.0
+cffi==1.17.0
 charset-normalizer==3.3.2
-cryptography==42.0.8
+cryptography==43.0.0
 filelock==3.15.4
 idna==3.7
 packaging==24.1
 platformdirs==4.2.2
 pycparser==2.22
-PyJWT==2.8.0
+PyJWT==2.9.0
 pyOpenSSL==24.2.1
 pytz==2024.1
 requests==2.32.3
 sortedcontainers==2.4.0
-tomlkit==0.13.0
+tomlkit==0.13.2
 typing_extensions==4.12.2
 urllib3==1.26.19
-snowflake-connector-python==3.12.0
+snowflake-connector-python==3.12.1