diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index fd6cf21070d2a..a7a7ea1bcad60 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,4 +1,4 @@
 {
-  ".": "3.2.2",
+  ".": "3.2.3",
   "operator": "0.6.1"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0e89d405b71c0..683b6898af13e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Changelog
 
+## [3.2.3](https://github.com/grafana/loki/compare/v3.2.2...v3.2.3) (2025-01-17)
+
+
+### Bug Fixes
+
+* correct typo in architecture name (amr64 -> arm64) (backport release-3.2.x) ([#15716](https://github.com/grafana/loki/issues/15716)) ([d066bbb](https://github.com/grafana/loki/commit/d066bbb7408aed56537b282e1e4f89d272f22815))
+* **deps:** backport update module golang.org/x/crypto to v0.31.0 ([#15395](https://github.com/grafana/loki/issues/15395)) ([a81159e](https://github.com/grafana/loki/commit/a81159e8b373f151a489342f347046f7f730f986))
+* **deps:** CVE updates for Loki 3.2.2 ([#15646](https://github.com/grafana/loki/issues/15646)) ([bd3a65a](https://github.com/grafana/loki/commit/bd3a65ad7a443f21568fe8931413c8f9acb99e9a))
+* **deps:** Update Go for Loki 3.2 ([#15712](https://github.com/grafana/loki/issues/15712)) ([0d67891](https://github.com/grafana/loki/commit/0d67891cb814efcb37c36d9d362dc0b1aca0bb38))
+
 ## [3.2.2](https://github.com/grafana/loki/compare/v3.2.1...v3.2.2) (2024-12-04)