diff --git a/.ci/bwcVersions b/.ci/bwcVersions
index 1ec5517f47d3b..00e60de71247e 100644
--- a/.ci/bwcVersions
+++ b/.ci/bwcVersions
@@ -84,3 +84,4 @@ BWC_VERSION:
   - "1.2.3"
   - "1.2.4"
   - "1.2.5"
+  - "1.3.0"
diff --git a/buildSrc/version.properties b/buildSrc/version.properties
index 638bf8ce03966..a047511541565 100644
--- a/buildSrc/version.properties
+++ b/buildSrc/version.properties
@@ -1,4 +1,4 @@
-opensearch        = 1.3.0
+opensearch        = 1.3.1
 lucene            = 8.10.1
 
 bundled_jdk_vendor = adoptium
diff --git a/server/src/main/java/org/opensearch/Version.java b/server/src/main/java/org/opensearch/Version.java
index 4dd1376aeb3f5..bd3fda7ae4693 100644
--- a/server/src/main/java/org/opensearch/Version.java
+++ b/server/src/main/java/org/opensearch/Version.java
@@ -81,7 +81,8 @@ public class Version implements Comparable<Version>, ToXContentFragment {
     public static final Version V_1_2_4 = new Version(1020499, org.apache.lucene.util.Version.LUCENE_8_10_1);
     public static final Version V_1_2_5 = new Version(1020599, org.apache.lucene.util.Version.LUCENE_8_10_1);
     public static final Version V_1_3_0 = new Version(1030099, org.apache.lucene.util.Version.LUCENE_8_10_1);
-    public static final Version CURRENT = V_1_3_0;
+    public static final Version V_1_3_1 = new Version(1030199, org.apache.lucene.util.Version.LUCENE_8_10_1);
+    public static final Version CURRENT = V_1_3_1;
 
     public static Version readVersion(StreamInput in) throws IOException {
         return fromId(in.readVInt());