diff --git a/CMakeLists.txt b/CMakeLists.txt
index 7f89e324e..0d65b57b8 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -348,7 +348,7 @@ if(NOT DISABLE_PACKAGE_CONFIG_AND_INSTALL)
     write_basic_package_version_file(
         "cmake/MbedTLSConfigVersion.cmake"
             COMPATIBILITY SameMajorVersion
-            VERSION 3.2.0)
+            VERSION 3.2.1)
 
     install(
         FILES "${CMAKE_CURRENT_BINARY_DIR}/cmake/MbedTLSConfig.cmake"
diff --git a/doxygen/input/doc_mainpage.h b/doxygen/input/doc_mainpage.h
index 282e9bfb4..c05042b87 100644
--- a/doxygen/input/doc_mainpage.h
+++ b/doxygen/input/doc_mainpage.h
@@ -22,7 +22,7 @@
  */
 
 /**
- * @mainpage mbed TLS v3.2.0 source code documentation
+ * @mainpage mbed TLS v3.2.1 source code documentation
  *
  * This documentation describes the internal structure of mbed TLS.  It was
  * automatically generated from specially formatted comment blocks in
diff --git a/doxygen/mbedtls.doxyfile b/doxygen/mbedtls.doxyfile
index 653babcb3..f722d2817 100644
--- a/doxygen/mbedtls.doxyfile
+++ b/doxygen/mbedtls.doxyfile
@@ -1,4 +1,4 @@
-PROJECT_NAME           = "mbed TLS v3.2.0"
+PROJECT_NAME           = "mbed TLS v3.2.1"
 OUTPUT_DIRECTORY       = ../apidoc/
 FULL_PATH_NAMES        = NO
 OPTIMIZE_OUTPUT_FOR_C  = YES
diff --git a/include/mbedtls/build_info.h b/include/mbedtls/build_info.h
index 75545f2e9..234debd01 100644
--- a/include/mbedtls/build_info.h
+++ b/include/mbedtls/build_info.h
@@ -38,16 +38,16 @@
  */
 #define MBEDTLS_VERSION_MAJOR  3
 #define MBEDTLS_VERSION_MINOR  2
-#define MBEDTLS_VERSION_PATCH  0
+#define MBEDTLS_VERSION_PATCH  1
 
 /**
  * The single version number has the following structure:
  *    MMNNPP00
  *    Major version | Minor version | Patch version
  */
-#define MBEDTLS_VERSION_NUMBER         0x03020000
-#define MBEDTLS_VERSION_STRING         "3.2.0"
-#define MBEDTLS_VERSION_STRING_FULL    "mbed TLS 3.2.0"
+#define MBEDTLS_VERSION_NUMBER         0x03020100
+#define MBEDTLS_VERSION_STRING         "3.2.1"
+#define MBEDTLS_VERSION_STRING_FULL    "mbed TLS 3.2.1"
 
 #if defined(_MSC_VER) && !defined(_CRT_SECURE_NO_DEPRECATE)
 #define _CRT_SECURE_NO_DEPRECATE 1
diff --git a/library/CMakeLists.txt b/library/CMakeLists.txt
index d65215717..0884f57ae 100644
--- a/library/CMakeLists.txt
+++ b/library/CMakeLists.txt
@@ -274,7 +274,7 @@ endif(USE_STATIC_MBEDTLS_LIBRARY)
 if(USE_SHARED_MBEDTLS_LIBRARY)
     set(CMAKE_LIBRARY_PATH ${CMAKE_CURRENT_BINARY_DIR})
     add_library(${mbedcrypto_target} SHARED ${src_crypto})
-    set_target_properties(${mbedcrypto_target} PROPERTIES VERSION 3.2.0 SOVERSION 12)
+    set_target_properties(${mbedcrypto_target} PROPERTIES VERSION 3.2.1 SOVERSION 12)
     target_link_libraries(${mbedcrypto_target} PUBLIC ${libs})
 
     if(TARGET everest)
@@ -282,11 +282,11 @@ if(USE_SHARED_MBEDTLS_LIBRARY)
     endif()
 
     add_library(${mbedx509_target} SHARED ${src_x509})
-    set_target_properties(${mbedx509_target} PROPERTIES VERSION 3.2.0 SOVERSION 4)
+    set_target_properties(${mbedx509_target} PROPERTIES VERSION 3.2.1 SOVERSION 4)
     target_link_libraries(${mbedx509_target} PUBLIC ${libs} ${mbedcrypto_target})
 
     add_library(${mbedtls_target} SHARED ${src_tls})
-    set_target_properties(${mbedtls_target} PROPERTIES VERSION 3.2.0 SOVERSION 18)
+    set_target_properties(${mbedtls_target} PROPERTIES VERSION 3.2.1 SOVERSION 18)
     target_link_libraries(${mbedtls_target} PUBLIC ${libs} ${mbedx509_target})
 endif(USE_SHARED_MBEDTLS_LIBRARY)
 
diff --git a/tests/suites/test_suite_version.data b/tests/suites/test_suite_version.data
index e4ffded4e..f131029d5 100644
--- a/tests/suites/test_suite_version.data
+++ b/tests/suites/test_suite_version.data
@@ -1,8 +1,8 @@
 Check compile time library version
-check_compiletime_version:"3.2.0"
+check_compiletime_version:"3.2.1"
 
 Check runtime library version
-check_runtime_version:"3.2.0"
+check_runtime_version:"3.2.1"
 
 Check for MBEDTLS_VERSION_C
 check_feature:"MBEDTLS_VERSION_C":0