diff --git a/aws_lambda_powertools/shared/version.py b/aws_lambda_powertools/shared/version.py
index 3ed57403eac..1a5e573bdf4 100644
--- a/aws_lambda_powertools/shared/version.py
+++ b/aws_lambda_powertools/shared/version.py
@@ -1,3 +1,3 @@
 """Exposes version constant to avoid circular dependencies."""
 
-VERSION = "3.1.1a0"
+VERSION = "3.2.0"
diff --git a/pyproject.toml b/pyproject.toml
index c6165d46e60..ad6903b44c7 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "aws_lambda_powertools"
-version = "3.1.1a0"
+version = "3.2.0"
 description = "Powertools for AWS Lambda (Python) is a developer toolkit to implement Serverless best practices and increase developer velocity."
 authors = ["Amazon Web Services"]
 include = ["aws_lambda_powertools/py.typed", "THIRD-PARTY-LICENSES"]