diff --git a/beanie/__init__.py b/beanie/__init__.py
index 509bf658..7fb3764e 100644
--- a/beanie/__init__.py
+++ b/beanie/__init__.py
@@ -31,7 +31,7 @@
 from beanie.odm.utils.init import init_beanie
 from beanie.odm.views import View
 
-__version__ = "1.23.0"
+__version__ = "1.23.1"
 __all__ = [
     # ODM
     "Document",
diff --git a/docs/changelog.md b/docs/changelog.md
index 2f1c74b5..eb9727d5 100644
--- a/docs/changelog.md
+++ b/docs/changelog.md
@@ -2,6 +2,22 @@
 
 Beanie project
 
+## [1.23.1] - 2023-10-23
+        
+### Fix: Issue #631
+- Author - [IterableTrucks](https://github.com/IterableTrucks)
+- PR <https://github.com/roman-right/beanie/pull/734>
+            
+### Replace Custom 'Hidden=True' Field Attribute With Builtin 'Exclude=True'
+- Author - [George Sakkis](https://github.com/gsakkis)
+- PR <https://github.com/roman-right/beanie/pull/741>
+            
+### Add Support For Indexed Custom Pydantic Fields
+- Author - [Adam Asay](https://github.com/aasay)
+- PR <https://github.com/roman-right/beanie/pull/754>
+            
+[1.23.1]: https://pypi.org/project/beanie/1.23.0
+
 ## [1.23.0] - 2023-10-15
         
 ### Refactor Encoder
diff --git a/pyproject.toml b/pyproject.toml
index bb9c3dd5..7c785814 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "flit_core.buildapi"
 
 [project]
 name = "beanie"
-version = "1.23.0"
+version = "1.23.1"
 description = "Asynchronous Python ODM for MongoDB"
 readme = "README.md"
 requires-python = ">=3.7,<4.0"
diff --git a/tests/test_beanie.py b/tests/test_beanie.py
index 267be2eb..567f71ce 100644
--- a/tests/test_beanie.py
+++ b/tests/test_beanie.py
@@ -2,4 +2,4 @@
 
 
 def test_version():
-    assert __version__ == "1.23.0"
+    assert __version__ == "1.23.1"