diff --git a/homeassistant/const.py b/homeassistant/const.py
index c0ff111fc89..9c546af49f8 100644
--- a/homeassistant/const.py
+++ b/homeassistant/const.py
@@ -7,7 +7,7 @@ from .backports.enum import StrEnum
 
 MAJOR_VERSION: Final = 2022
 MINOR_VERSION: Final = 3
-PATCH_VERSION: Final = "0"
+PATCH_VERSION: Final = "1"
 __short_version__: Final = f"{MAJOR_VERSION}.{MINOR_VERSION}"
 __version__: Final = f"{__short_version__}.{PATCH_VERSION}"
 REQUIRED_PYTHON_VER: Final[tuple[int, int, int]] = (3, 9, 0)
diff --git a/setup.cfg b/setup.cfg
index d72829b574e..1d731bfdb9c 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,6 +1,6 @@
 [metadata]
 name         = homeassistant
-version      = 2022.3.0
+version      = 2022.3.1
 author       = The Home Assistant Authors
 author_email = hello@home-assistant.io
 license      = Apache-2.0