diff --git a/CHANGELOG.md b/CHANGELOG.md
index d3ac3eb69a18..b0a4f2a8da36 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -10,14 +10,6 @@ internal API changes are not present.
 Main (unreleased)
 -----------------
 
-### Security fixes
-
-- Fix CVE-2023-47108 by updating `otelgrpc` from v0.45.0 to v0.46.0. (@hainenber)
-
-### Features
-
-- Agent Management: Introduce support for templated configuration. (@jcreixell)
-
 ### Enhancements
 
 - Flow Windows service: Support environment variables. (@jkroepke)
@@ -40,6 +32,17 @@ Main (unreleased)
 
 - `pyroscope.ebpf` support python on arm64 platforms. (@korniltsev)
 
+v0.38.1 (2023-11-30)
+--------------------
+
+### Security fixes
+
+- Fix CVE-2023-47108 by updating `otelgrpc` from v0.45.0 to v0.46.0. (@hainenber)
+
+### Features
+
+- Agent Management: Introduce support for templated configuration. (@jcreixell)
+
 ### Bugfixes
 
 - Permit `X-Faro-Session-ID` header in CORS requests for the `faro.receiver`
diff --git a/docs/sources/_index.md b/docs/sources/_index.md
index f744311514c5..1561d91650b8 100644
--- a/docs/sources/_index.md
+++ b/docs/sources/_index.md
@@ -9,7 +9,7 @@ title: Grafana Agent
 description: Grafana Agent is a flexible, performant, vendor-neutral, telemetry collector
 weight: 350
 cascade:
-  AGENT_RELEASE: v0.38.0
+  AGENT_RELEASE: v0.38.1
   OTEL_VERSION: v0.87.0
 ---
 
diff --git a/pkg/operator/defaults.go b/pkg/operator/defaults.go
index 72aa6b12d6a3..b66cfb52289b 100644
--- a/pkg/operator/defaults.go
+++ b/pkg/operator/defaults.go
@@ -2,7 +2,7 @@ package operator
 
 // Supported versions of the Grafana Agent.
 var (
-	DefaultAgentVersion   = "v0.38.0"
+	DefaultAgentVersion   = "v0.38.1"
 	DefaultAgentBaseImage = "grafana/agent"
 	DefaultAgentImage     = DefaultAgentBaseImage + ":" + DefaultAgentVersion
 )
diff --git a/tools/gen-versioned-files/agent-version.txt b/tools/gen-versioned-files/agent-version.txt
index 765098dc40e9..b4a466a81031 100644
--- a/tools/gen-versioned-files/agent-version.txt
+++ b/tools/gen-versioned-files/agent-version.txt
@@ -1 +1 @@
-v0.38.0
+v0.38.1