diff --git a/charts/datadog/CHANGELOG.md b/charts/datadog/CHANGELOG.md
index 33f2d6b12..7297c16d5 100644
--- a/charts/datadog/CHANGELOG.md
+++ b/charts/datadog/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Datadog changelog
 
+## 3.103.1
+
+* Update `fips.image.tag` to `1.1.8` fixing CVEs
+
 ## 3.103.0
 
 * Upgrade default Agent version to `7.63.3`.
diff --git a/charts/datadog/Chart.yaml b/charts/datadog/Chart.yaml
index e1974cebe..8026bbd0a 100644
--- a/charts/datadog/Chart.yaml
+++ b/charts/datadog/Chart.yaml
@@ -1,7 +1,7 @@
 ---
 apiVersion: v1
 name: datadog
-version: 3.103.0
+version: 3.103.1
 appVersion: "7"
 description: Datadog Agent
 keywords:
diff --git a/charts/datadog/README.md b/charts/datadog/README.md
index 927f60479..fc122c92b 100644
--- a/charts/datadog/README.md
+++ b/charts/datadog/README.md
@@ -1,6 +1,6 @@
 # Datadog
 
-![Version: 3.103.0](https://img.shields.io/badge/Version-3.103.0-informational?style=flat-square) ![AppVersion: 7](https://img.shields.io/badge/AppVersion-7-informational?style=flat-square)
+![Version: 3.103.1](https://img.shields.io/badge/Version-3.103.1-informational?style=flat-square) ![AppVersion: 7](https://img.shields.io/badge/AppVersion-7-informational?style=flat-square)
 
 [Datadog](https://www.datadoghq.com/) is a hosted infrastructure monitoring platform. This chart adds the Datadog Agent to all nodes in your cluster via a DaemonSet. It also optionally depends on the [kube-state-metrics chart](https://github.com/prometheus-community/helm-charts/tree/main/charts/kube-state-metrics). For more information about monitoring Kubernetes with Datadog, please refer to the [Datadog documentation website](https://docs.datadoghq.com/agent/basic_agent_usage/kubernetes/).
 
@@ -898,7 +898,7 @@ helm install <RELEASE_NAME> \
 | fips.image.name | string | `"fips-proxy"` |  |
 | fips.image.pullPolicy | string | `"IfNotPresent"` | Datadog the FIPS sidecar image pull policy |
 | fips.image.repository | string | `nil` | Override default registry + image.name for the FIPS sidecar container. |
-| fips.image.tag | string | `"1.1.7"` | Define the FIPS sidecar container version to use. |
+| fips.image.tag | string | `"1.1.8"` | Define the FIPS sidecar container version to use. |
 | fips.local_address | string | `"127.0.0.1"` | Set local IP address |
 | fips.port | int | `9803` | Specifies which port is used by the containers to communicate to the FIPS sidecar. |
 | fips.portRange | int | `15` | Specifies the number of ports used, defaults to 13 https://github.com/DataDog/datadog-agent/blob/7.44.x/pkg/config/config.go#L1564-L1577 |
diff --git a/charts/datadog/values.yaml b/charts/datadog/values.yaml
index bd9ffc550..ef45c1c53 100644
--- a/charts/datadog/values.yaml
+++ b/charts/datadog/values.yaml
@@ -1547,7 +1547,7 @@ fips:
     name: fips-proxy
 
     # fips.image.tag -- Define the FIPS sidecar container version to use.
-    tag: 1.1.7
+    tag: 1.1.8
 
     # fips.image.pullPolicy -- Datadog the FIPS sidecar image pull policy
     pullPolicy: IfNotPresent