diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4c311ca13bb3..52bd8defff90 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,21 @@ This document contains a historical list of changes between releases. Only
 changes that impact end-user behavior are listed; changes to documentation or
 internal API changes are not present.
 
+v0.39.1 (2024-01-19)
+--------------------
+
+### Security fixes
+
+- Fixes following vulnerabilities (@hainenber)
+  - [GO-2023-2409](https://github.com/advisories/GHSA-mhpq-9638-x6pw)
+  - [GO-2023-2412](https://github.com/advisories/GHSA-7ww5-4wqc-m92c)
+  - [CVE-2023-49568](https://github.com/advisories/GHSA-mw99-9chc-xw7r)
+
+### Bugfixes
+
+- Fix issue where installing the Windows Agent Flow installer would hang then crash. (@mattdurham)
+
+
 v0.39.0 (2024-01-09)
 --------------------
 
diff --git a/docs/sources/_index.md b/docs/sources/_index.md
index 9597240d8744..5c888a7ddbd6 100644
--- a/docs/sources/_index.md
+++ b/docs/sources/_index.md
@@ -9,7 +9,7 @@ title: Grafana Agent
 description: Grafana Agent is a flexible, performant, vendor-neutral, telemetry collector
 weight: 350
 cascade:
-  AGENT_RELEASE: v0.39.0
+  AGENT_RELEASE: v0.39.1
   OTEL_VERSION: v0.87.0
 ---
 
diff --git a/pkg/operator/defaults.go b/pkg/operator/defaults.go
index bc9cff6ab04e..3fc09a6aa972 100644
--- a/pkg/operator/defaults.go
+++ b/pkg/operator/defaults.go
@@ -2,7 +2,7 @@ package operator
 
 // Supported versions of the Grafana Agent.
 var (
-	DefaultAgentVersion   = "v0.39.0"
+	DefaultAgentVersion   = "v0.39.1"
 	DefaultAgentBaseImage = "grafana/agent"
 	DefaultAgentImage     = DefaultAgentBaseImage + ":" + DefaultAgentVersion
 )
diff --git a/tools/gen-versioned-files/agent-version.txt b/tools/gen-versioned-files/agent-version.txt
index 999889149ec2..e87e1c65cd30 100644
--- a/tools/gen-versioned-files/agent-version.txt
+++ b/tools/gen-versioned-files/agent-version.txt
@@ -1 +1 @@
-v0.39.0
\ No newline at end of file
+v0.39.1
\ No newline at end of file