diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9ce3e130..f0d60d4f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,7 +5,7 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [Unreleased]
+## [1.2.3] 2023-05-25
 
 ### Fixed
 
diff --git a/idf_component_tools/__version__.py b/idf_component_tools/__version__.py
index cb7f06be..0d38d943 100644
--- a/idf_component_tools/__version__.py
+++ b/idf_component_tools/__version__.py
@@ -2,4 +2,4 @@
 # SPDX-License-Identifier: Apache-2.0
 """IDF Component Tools Version"""
 
-__version__ = '1.2.2'
+__version__ = '1.2.3'