diff --git a/CHANGES.rst b/CHANGES.rst
index 7d9188bec7..4b499f794f 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,7 +1,7 @@
 Version 2.3.1
 -------------
 
-Unreleased
+Released 2023-04-25
 
 -   Restore deprecated ``from flask import Markup``. :issue:`5084`
 
diff --git a/src/flask/__init__.py b/src/flask/__init__.py
index 9973dd4869..1cc4408600 100644
--- a/src/flask/__init__.py
+++ b/src/flask/__init__.py
@@ -38,7 +38,7 @@
 from .templating import stream_template as stream_template
 from .templating import stream_template_string as stream_template_string
 
-__version__ = "2.3.1.dev"
+__version__ = "2.3.1"
 
 
 def __getattr__(name):