diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index af5a64185..2902564be 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -1,12 +1,15 @@
 Changelog
 =========
 
-v34.8.3 (unreleased)
+v34.8.3 (2024-10-30)
 --------------------
 
 - Include the ``aboutcode`` module in the wheel and source distribution.
   https://github.com/aboutcode-org/scancode.io/issues/1423
 
+- Update ScanCode-toolkit to v32.3.0
+  https://github.com/aboutcode-org/scancode.io/issues/1418
+
 v34.8.2 (2024-10-28)
 --------------------
 
diff --git a/scancodeio/__init__.py b/scancodeio/__init__.py
index c1f2739d7..1ef8e40c0 100644
--- a/scancodeio/__init__.py
+++ b/scancodeio/__init__.py
@@ -28,7 +28,7 @@
 
 import git
 
-VERSION = "34.8.2"
+VERSION = "34.8.3"
 
 PROJECT_DIR = Path(__file__).resolve().parent
 ROOT_DIR = PROJECT_DIR.parent
diff --git a/setup.cfg b/setup.cfg
index 00b424042..4cb937260 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,6 +1,6 @@
 [metadata]
 name = scancodeio
-version = 34.8.2
+version = 34.8.3
 license = Apache-2.0
 description = Automate software composition analysis pipelines
 long_description = file:README.rst
@@ -153,7 +153,7 @@ scancodeio_pipelines =
 
 [bumpver]
 version_pattern = "MAJOR.MINOR.PATCH"
-current_version = "34.8.1"
+current_version = "34.8.3"
 
 [bumpver:file_patterns]
 setup.cfg =