diff --git a/eng/code-quality-reports/src/main/resources/revapi/revapi.json b/eng/code-quality-reports/src/main/resources/revapi/revapi.json
index 024c7488286f9..e24ae76e6408c 100644
--- a/eng/code-quality-reports/src/main/resources/revapi/revapi.json
+++ b/eng/code-quality-reports/src/main/resources/revapi/revapi.json
@@ -512,6 +512,16 @@
         "old": "field com.azure.core.amqp.exception.AmqpErrorContext.serialVersionUID",
         "new": "field com.azure.core.amqp.exception.AmqpErrorContext.serialVersionUID",
         "justification": "The field ErrorInfo was added to AmqpErrorContext, but no existing fields were removed or changed."
+      },
+      {
+          "code": "java.method.added",
+          "new": "method com.azure.core.util.HttpClientOptions com.azure.core.util.HttpClientOptions::setReadTimeout(java.time.Duration)",
+          "justification": "New Setter method."
+      },
+      {
+          "code": "java.method.added",
+          "new": "method com.azure.core.util.HttpClientOptions com.azure.core.util.HttpClientOptions::setResponseTimeout(java.time.Duration)",
+          "justification": "New Setter method."
       }
     ]
   }
diff --git a/eng/jacoco-test-coverage/pom.xml b/eng/jacoco-test-coverage/pom.xml
index 6bc2acb3ce00f..5981e820f11d6 100644
--- a/eng/jacoco-test-coverage/pom.xml
+++ b/eng/jacoco-test-coverage/pom.xml
@@ -194,7 +194,7 @@
     <dependency>
       <groupId>com.azure</groupId>
       <artifactId>azure-identity</artifactId>
-      <version>1.4.0-beta.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
+      <version>1.3.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
     </dependency>
     <dependency>
       <groupId>com.azure</groupId>
diff --git a/eng/versioning/version_client.txt b/eng/versioning/version_client.txt
index 270df68a5c919..ffb71a13b4b8e 100644
--- a/eng/versioning/version_client.txt
+++ b/eng/versioning/version_client.txt
@@ -83,7 +83,7 @@ com.azure:azure-data-schemaregistry-avro;1.0.0-beta.4;1.0.0-beta.5
 com.azure:azure-data-tables;12.0.0-beta.7;12.0.0-beta.8
 com.azure:azure-digitaltwins-core;1.1.1;1.2.0-beta.1
 com.azure:azure-e2e;1.0.0-beta.1;1.0.0-beta.1
-com.azure:azure-identity;1.3.0;1.4.0-beta.1
+com.azure:azure-identity;1.3.0;1.3.1
 com.azure:azure-identity-perf;1.0.0-beta.1;1.0.0-beta.1
 com.azure:azure-iot-deviceupdate;1.0.0-beta.1;1.0.0-beta.2
 com.azure:azure-iot-modelsrepository;1.0.0-beta.1;1.0.0-beta.2
diff --git a/sdk/e2e/pom.xml b/sdk/e2e/pom.xml
index d5afffe875046..0849f82aa028f 100644
--- a/sdk/e2e/pom.xml
+++ b/sdk/e2e/pom.xml
@@ -33,7 +33,7 @@
     <dependency>
       <groupId>com.azure</groupId>
       <artifactId>azure-identity</artifactId>
-      <version>1.4.0-beta.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
+      <version>1.3.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
     </dependency>
     <dependency>
       <groupId>com.azure</groupId>
diff --git a/sdk/identity/azure-identity-perf/pom.xml b/sdk/identity/azure-identity-perf/pom.xml
index 3c574c91466f6..be29841428371 100644
--- a/sdk/identity/azure-identity-perf/pom.xml
+++ b/sdk/identity/azure-identity-perf/pom.xml
@@ -27,7 +27,7 @@
     <dependency>
       <groupId>com.azure</groupId>
       <artifactId>azure-identity</artifactId>
-      <version>1.4.0-beta.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
+      <version>1.3.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
     </dependency>
     <dependency>
       <groupId>com.azure</groupId>
diff --git a/sdk/identity/azure-identity/CHANGELOG.md b/sdk/identity/azure-identity/CHANGELOG.md
index 8a2fa08218450..162da6598bdfd 100644
--- a/sdk/identity/azure-identity/CHANGELOG.md
+++ b/sdk/identity/azure-identity/CHANGELOG.md
@@ -1,6 +1,9 @@
 # Release History
 
-## 1.4.0-beta.1 (Unreleased)
+## 1.3.1 (2021-06-08)
+
+### Dependency Updates
+- Upgraded `azure-core` dependency to 1.17.0
 
 
 ## 1.3.0 (2021-05-11)
diff --git a/sdk/identity/azure-identity/pom.xml b/sdk/identity/azure-identity/pom.xml
index c8ac8141a68d1..6b3eac9fe3074 100644
--- a/sdk/identity/azure-identity/pom.xml
+++ b/sdk/identity/azure-identity/pom.xml
@@ -6,7 +6,7 @@
 
   <groupId>com.azure</groupId>
   <artifactId>azure-identity</artifactId>
-  <version>1.4.0-beta.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
+  <version>1.3.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
 
   <name>Microsoft Azure client library for Identity</name>
   <description>This module contains client library for Microsoft Azure Identity.</description>
diff --git a/sdk/identity/pom.xml b/sdk/identity/pom.xml
index 6b0e56d5a42f3..336b5f430b993 100644
--- a/sdk/identity/pom.xml
+++ b/sdk/identity/pom.xml
@@ -20,7 +20,7 @@
         <dependency>
           <groupId>com.azure</groupId>
           <artifactId>azure-identity</artifactId>
-          <version>1.4.0-beta.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
+          <version>1.3.1</version> <!-- {x-version-update;com.azure:azure-identity;current} -->
         </dependency>
       </dependencies>