diff --git a/CHANGELOG.md b/CHANGELOG.md
index e55fc8f4d435..81407e951eee 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,35 @@
 # Release Notes
 
+## Version 1.23.2 - 2021-09-21
+
+Fix crio regression:
+* Roll back default crio cgroup to systemd [#12533](/~https://github.com/kubernetes/minikube/pull/12533)
+* Fix template typo [#12532](/~https://github.com/kubernetes/minikube/pull/12532)
+
+For a more detailed changelog, including changes occuring in pre-release versions, see [CHANGELOG.md](/~https://github.com/kubernetes/minikube/blob/master/CHANGELOG.md).
+
+Thank you to our contributors for this release!
+
+- Jeff MAURY
+- Lakshya Gupta
+- Medya Ghazizadeh
+- Sharif Elgamal
+- Steven Powell
+
+Thank you to our PR reviewers for this release!
+
+- medyagh (2 comments)
+- sharifelgamal (1 comments)
+
+Thank you to our triage members for this release!
+
+- afbjorklund (12 comments)
+- yxxhero (10 comments)
+- medyagh (7 comments)
+- spowelljr (4 comments)
+- dilyanpalauzov (2 comments)
+
+
 ## Version 1.23.1 - 2021-09-17
 
 Minor Improvements:
diff --git a/Makefile b/Makefile
index 3800300a1965..400e4820edcc 100644
--- a/Makefile
+++ b/Makefile
@@ -15,7 +15,7 @@
 # Bump these on release - and please check ISO_VERSION for correctness.
 VERSION_MAJOR ?= 1
 VERSION_MINOR ?= 23
-VERSION_BUILD ?= 1
+VERSION_BUILD ?= 2
 RAW_VERSION=$(VERSION_MAJOR).$(VERSION_MINOR).$(VERSION_BUILD)
 VERSION ?= v$(RAW_VERSION)