diff --git a/CMakeLists.txt b/CMakeLists.txt
index 55291094..9fe3e70f 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -93,7 +93,7 @@ endif()
 # Patch version: increase it for bug fix releases.
 set(TAGLIB_SOVERSION_MAJOR 2)
 set(TAGLIB_SOVERSION_MINOR 3)
-set(TAGLIB_SOVERSION_PATCH 0)
+set(TAGLIB_SOVERSION_PATCH 1)
 
 include(ConfigureChecks.cmake)
 
diff --git a/taglib/toolkit/taglib.h b/taglib/toolkit/taglib.h
index fc59297a..46aabf85 100644
--- a/taglib/toolkit/taglib.h
+++ b/taglib/toolkit/taglib.h
@@ -28,7 +28,7 @@
 
 #define TAGLIB_MAJOR_VERSION 2
 #define TAGLIB_MINOR_VERSION 3
-#define TAGLIB_PATCH_VERSION 0
+#define TAGLIB_PATCH_VERSION 1
 
 #if (defined(_MSC_VER) && _MSC_VER >= 1600)
 #define TAGLIB_CONSTRUCT_BITSET(x) static_cast<unsigned long long>(x)