diff --git a/CHANGELOG.md b/CHANGELOG.md
index bebc1c4621..1460d71c2c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,9 @@
 # Changelog
 
-## [unreleased]
+## [1.31.1] - 2024-10-29
+
+This release primarily prevents beam.smp from overloading the CPU on ARM hosts. It also includes a number of other bug fixes and performance improvements. Enjoy it.
+Please also note: [v1.31.0 Release Notes](https://github.com/teslamate-org/teslamate/releases/tag/v1.31.0)
 
 ### New features
 
@@ -2193,7 +2196,7 @@ New users need to sign in via the web interface.
 
 ## [1.0.0] - 2019-07-25
 
-[unreleased]: https://github.com/teslamate-org/teslamate/compare/v1.31.0...HEAD
+[1.31.1]: https://github.com/teslamate-org/teslamate/compare/v1.31.0...v1.31.1
 [1.31.0]: https://github.com/teslamate-org/teslamate/compare/v1.30.1...v1.31.0
 [1.30.1]: https://github.com/teslamate-org/teslamate/compare/v1.30.0...v1.30.1
 [1.30.0]: https://github.com/teslamate-org/teslamate/compare/v1.29.2...v1.30.0
diff --git a/VERSION b/VERSION
index 02988aa274..d2990b45f5 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.31.1-dev
\ No newline at end of file
+1.31.1
\ No newline at end of file