diff --git a/homeassistant/const.py b/homeassistant/const.py
index 9e0505fadf333f..cea73ec243b47b 100644
--- a/homeassistant/const.py
+++ b/homeassistant/const.py
@@ -16,7 +16,7 @@
 APPLICATION_NAME: Final = "HomeAssistant"
 MAJOR_VERSION: Final = 2024
 MINOR_VERSION: Final = 1
-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, 11, 0)
diff --git a/pyproject.toml b/pyproject.toml
index 2fc5f594157b0a..3bec11ced3bbe2 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "setuptools.build_meta"
 
 [project]
 name        = "homeassistant"
-version     = "2024.1.0"
+version     = "2024.1.1"
 license     = {text = "Apache-2.0"}
 description = "Open-source home automation platform running on Python 3."
 readme      = "README.rst"