diff --git a/CHANGELOG.md b/CHANGELOG.md
index 51e97f623..b711770d7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -32,6 +32,15 @@ Versioning](https://semver.org/spec/v2.0.0.html).
 -
 
 
+## [1.3.1] - 2023-10-11
+
+### Fixes
+
+- Fix an issue caused by outdated Machine Config Operator dependencies where
+  the API check pod crashes due to Machine Config Operator using newer versions
+  of Ignition (3.4).
+  [OCPBUGS-18025](https://issues.redhat.com/browse/OCPBUGS-18025)
+
 ## [1.3.0] - 2023-09-11
 
 ### Enhancements
diff --git a/bundle/manifests/compliance-operator.clusterserviceversion.yaml b/bundle/manifests/compliance-operator.clusterserviceversion.yaml
index 8729a3b2e..32ce50f68 100644
--- a/bundle/manifests/compliance-operator.clusterserviceversion.yaml
+++ b/bundle/manifests/compliance-operator.clusterserviceversion.yaml
@@ -160,7 +160,7 @@ metadata:
       ]
     capabilities: Seamless Upgrades
     categories: Monitoring,Security
-    olm.skipRange: '>=0.1.17 <1.3.0'
+    olm.skipRange: '>=0.1.17 <1.3.1'
     operatorframework.io/cluster-monitoring: "true"
     operatorframework.io/suggested-namespace: openshift-compliance
     operators.openshift.io/infrastructure-features: '["disconnected", "fips", "proxy-aware"]'
@@ -174,7 +174,7 @@ metadata:
     operatorframework.io/arch.amd64: supported
     operatorframework.io/arch.ppc64le: supported
     operatorframework.io/arch.s390x: supported
-  name: compliance-operator.v1.3.0
+  name: compliance-operator.v1.3.1
   namespace: placeholder
 spec:
   apiservicedefinitions: {}
@@ -1630,4 +1630,4 @@ spec:
     name: operator
   - image: ghcr.io/complianceascode/k8scontent:latest
     name: profile
-  version: 1.3.0
+  version: 1.3.1
diff --git a/catalog/preamble.json b/catalog/preamble.json
index 0453182f5..5cbe92f7f 100644
--- a/catalog/preamble.json
+++ b/catalog/preamble.json
@@ -13,8 +13,8 @@
     "package": "compliance-operator",
     "entries": [
         {
-            "name": "compliance-operator.v1.3.0",
-            "skipRange": ">=0.1.17 <1.3.0"
+            "name": "compliance-operator.v1.3.1",
+            "skipRange": ">=0.1.17 <1.3.1"
         }
     ]
 }
diff --git a/config/manifests/bases/compliance-operator.clusterserviceversion.yaml b/config/manifests/bases/compliance-operator.clusterserviceversion.yaml
index 3645d3696..c4b132cf9 100644
--- a/config/manifests/bases/compliance-operator.clusterserviceversion.yaml
+++ b/config/manifests/bases/compliance-operator.clusterserviceversion.yaml
@@ -160,7 +160,7 @@ metadata:
       ]
     capabilities: Seamless Upgrades
     categories: Monitoring,Security
-    olm.skipRange: '>=0.1.17 <1.3.0'
+    olm.skipRange: '>=0.1.17 <1.3.1'
     operatorframework.io/cluster-monitoring: "true"
     operatorframework.io/suggested-namespace: openshift-compliance
     operators.openshift.io/infrastructure-features: '["disconnected", "fips", "proxy-aware"]'
diff --git a/version.Makefile b/version.Makefile
index a27d1fab7..7a63f29b2 100644
--- a/version.Makefile
+++ b/version.Makefile
@@ -2,4 +2,4 @@
 # - use the VERSION as arg of the bundle target (e.g make bundle VERSION=0.0.2)
 # - use environment variables to overwrite this value (e.g export VERSION=0.0.2)
 
-VERSION?=1.3.0
\ No newline at end of file
+VERSION?=1.3.1
\ No newline at end of file
diff --git a/version/version.go b/version/version.go
index 5ab462930..27aa6a10a 100644
--- a/version/version.go
+++ b/version/version.go
@@ -1,5 +1,5 @@
 package version
 
 var (
-	Version = "1.3.0"
+	Version = "1.3.1"
 )