diff --git a/VERSION_NUMBER b/VERSION_NUMBER
index a6c2798a482eb..49e0a31d4964d 100644
--- a/VERSION_NUMBER
+++ b/VERSION_NUMBER
@@ -1 +1 @@
-1.23.0
+1.23.1
diff --git a/docs/python/README.rst b/docs/python/README.rst
index fdef200c1d0de..c23c194ed8132 100644
--- a/docs/python/README.rst
+++ b/docs/python/README.rst
@@ -8,6 +8,11 @@ For more information on ONNX Runtime, please see `aka.ms/onnxruntime <https://ak
 Changes
 -------
 
+1.23.1
+^^^^^^
+
+Release Notes : https://github.com/Microsoft/onnxruntime/releases/tag/v1.23.1
+
 1.23.0
 ^^^^^^
 
diff --git a/js/common/lib/version.ts b/js/common/lib/version.ts
index 994eb6f4300c1..f00f4ec8dee50 100644
--- a/js/common/lib/version.ts
+++ b/js/common/lib/version.ts
@@ -4,4 +4,4 @@
 // This file is generated by /js/scripts/update-version.ts
 // Do not modify file content manually.
 
-export const version = '1.23.0';
+export const version = '1.23.1';
diff --git a/js/common/package-lock.json b/js/common/package-lock.json
index 706f8b46a3ad4..9ef468a229788 100644
--- a/js/common/package-lock.json
+++ b/js/common/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "onnxruntime-common",
-  "version": "1.23.0",
+  "version": "1.23.1",
   "lockfileVersion": 2,
   "requires": true,
   "packages": {
     "": {
       "name": "onnxruntime-common",
-      "version": "1.23.0",
+      "version": "1.23.1",
       "license": "MIT",
       "devDependencies": {
         "typedoc": "^0.25.7"
diff --git a/js/common/package.json b/js/common/package.json
index a0eff9095e6d7..200aff42f8fca 100644
--- a/js/common/package.json
+++ b/js/common/package.json
@@ -2,7 +2,7 @@
   "license": "MIT",
   "type": "module",
   "name": "onnxruntime-common",
-  "version": "1.23.0",
+  "version": "1.23.1",
   "repository": {
     "url": "https://github.com/Microsoft/onnxruntime.git",
     "type": "git"
diff --git a/js/node/lib/version.ts b/js/node/lib/version.ts
index 994eb6f4300c1..f00f4ec8dee50 100644
--- a/js/node/lib/version.ts
+++ b/js/node/lib/version.ts
@@ -4,4 +4,4 @@
 // This file is generated by /js/scripts/update-version.ts
 // Do not modify file content manually.
 
-export const version = '1.23.0';
+export const version = '1.23.1';
diff --git a/js/node/package-lock.json b/js/node/package-lock.json
index bd7e6cc1966c7..0a65eab39df70 100644
--- a/js/node/package-lock.json
+++ b/js/node/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "onnxruntime-node",
-  "version": "1.23.0",
+  "version": "1.23.1",
   "lockfileVersion": 2,
   "requires": true,
   "packages": {
     "": {
       "name": "onnxruntime-node",
-      "version": "1.23.0",
+      "version": "1.23.1",
       "hasInstallScript": true,
       "license": "MIT",
       "os": [
@@ -30,7 +30,7 @@
     },
     "../common": {
       "name": "onnxruntime-common",
-      "version": "1.23.0",
+      "version": "1.23.1",
       "license": "MIT",
       "devDependencies": {
         "typedoc": "^0.25.7"
diff --git a/js/node/package.json b/js/node/package.json
index 5520a48aa124a..1f29f2354b0d7 100644
--- a/js/node/package.json
+++ b/js/node/package.json
@@ -11,7 +11,7 @@
       6
     ]
   },
-  "version": "1.23.0",
+  "version": "1.23.1",
   "dependencies": {
     "adm-zip": "^0.5.16",
     "global-agent": "^3.0.0",
diff --git a/js/node/script/install-metadata-versions.js b/js/node/script/install-metadata-versions.js
index 3147f90904e7a..23df0b7ac96ed 100644
--- a/js/node/script/install-metadata-versions.js
+++ b/js/node/script/install-metadata-versions.js
@@ -4,4 +4,4 @@
 // This file is generated by /js/scripts/update-version.ts
 // Do not modify file content manually.
 
-module.exports = { nuget: [{ feed: 'nuget', version: '1.23.0' }] };
+module.exports = { nuget: [{ feed: 'nuget', version: '1.23.1' }] };
diff --git a/js/react_native/lib/version.ts b/js/react_native/lib/version.ts
index 994eb6f4300c1..f00f4ec8dee50 100644
--- a/js/react_native/lib/version.ts
+++ b/js/react_native/lib/version.ts
@@ -4,4 +4,4 @@
 // This file is generated by /js/scripts/update-version.ts
 // Do not modify file content manually.
 
-export const version = '1.23.0';
+export const version = '1.23.1';
diff --git a/js/react_native/package-lock.json b/js/react_native/package-lock.json
index ec2147b2cc4ba..f681b9166da98 100644
--- a/js/react_native/package-lock.json
+++ b/js/react_native/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "onnxruntime-react-native",
-  "version": "1.23.0",
+  "version": "1.23.1",
   "lockfileVersion": 3,
   "requires": true,
   "packages": {
     "": {
       "name": "onnxruntime-react-native",
-      "version": "1.23.0",
+      "version": "1.23.1",
       "license": "MIT",
       "dependencies": {
         "buffer": "^6.0.3",
@@ -31,7 +31,7 @@
     },
     "../common": {
       "name": "onnxruntime-common",
-      "version": "1.23.0",
+      "version": "1.23.1",
       "license": "MIT",
       "devDependencies": {
         "typedoc": "^0.25.7"
diff --git a/js/react_native/package.json b/js/react_native/package.json
index 7a5ee35bdb25a..a88f5cf267aed 100644
--- a/js/react_native/package.json
+++ b/js/react_native/package.json
@@ -37,7 +37,7 @@
     "registry": "https://registry.npmjs.org/"
   },
   "source": "lib/index",
-  "version": "1.23.0",
+  "version": "1.23.1",
   "main": "dist/commonjs/index",
   "homepage": "https://github.com/microsoft/onnxruntime/blob/main/js/react_native/README.md",
   "files": [
diff --git a/js/web/lib/version.ts b/js/web/lib/version.ts
index 994eb6f4300c1..f00f4ec8dee50 100644
--- a/js/web/lib/version.ts
+++ b/js/web/lib/version.ts
@@ -4,4 +4,4 @@
 // This file is generated by /js/scripts/update-version.ts
 // Do not modify file content manually.
 
-export const version = '1.23.0';
+export const version = '1.23.1';
diff --git a/js/web/package-lock.json b/js/web/package-lock.json
index eabb198e97177..74776abb25bd5 100644
--- a/js/web/package-lock.json
+++ b/js/web/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "onnxruntime-web",
-  "version": "1.23.0",
+  "version": "1.23.1",
   "lockfileVersion": 2,
   "requires": true,
   "packages": {
     "": {
       "name": "onnxruntime-web",
-      "version": "1.23.0",
+      "version": "1.23.1",
       "license": "MIT",
       "dependencies": {
         "flatbuffers": "^25.1.24",
@@ -50,7 +50,7 @@
     },
     "../common": {
       "name": "onnxruntime-common",
-      "version": "1.23.0",
+      "version": "1.23.1",
       "license": "MIT",
       "devDependencies": {
         "typedoc": "^0.25.7"
diff --git a/js/web/package.json b/js/web/package.json
index 425aa88035424..db20202b4f24e 100644
--- a/js/web/package.json
+++ b/js/web/package.json
@@ -7,7 +7,7 @@
     "type": "git"
   },
   "author": "fs-eire",
-  "version": "1.23.0",
+  "version": "1.23.1",
   "jsdelivr": "dist/ort.min.js",
   "dependencies": {
     "flatbuffers": "^25.1.24",
diff --git a/onnxruntime/__init__.py b/onnxruntime/__init__.py
index 550502cf3bc48..bdec4179c72d0 100644
--- a/onnxruntime/__init__.py
+++ b/onnxruntime/__init__.py
@@ -8,7 +8,7 @@
 or the `Github project <https://github.com/microsoft/onnxruntime/>`_.
 """
 
-__version__ = "1.23.0"
+__version__ = "1.23.1"
 __author__ = "Microsoft"
 
 # we need to do device version validation (for example to check Cuda version for an onnxruntime-training package).
diff --git a/onnxruntime/core/session/onnxruntime_c_api.cc b/onnxruntime/core/session/onnxruntime_c_api.cc
index 21d09df5cc4db..edc0cb6d2bd0f 100644
--- a/onnxruntime/core/session/onnxruntime_c_api.cc
+++ b/onnxruntime/core/session/onnxruntime_c_api.cc
@@ -4257,7 +4257,7 @@ static_assert(offsetof(OrtApi, SetEpDynamicOptions) / sizeof(void*) == 284, "Siz
 static_assert(offsetof(OrtApi, GetEpApi) / sizeof(void*) == 317, "Size of version 22 API cannot change");
 
 // So that nobody forgets to finish an API version, this check will serve as a reminder:
-static_assert(std::string_view(ORT_VERSION) == "1.23.0",
+static_assert(std::string_view(ORT_VERSION) == "1.23.1",
               "ORT_Version change detected, please follow below steps to ensure OrtApi is updated properly");
 // 1. Update the hardcoded version string in above static_assert to silence it
 // 2. If there were any APIs added to ort_api_1_to_23 above: