diff --git a/VERSION b/VERSION
index 765098dc40..b4a466a810 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v0.38.0
+v0.38.1
diff --git a/docs/releases/v0.38.1.md b/docs/releases/v0.38.1.md
new file mode 100644
index 0000000000..aba8ed1d25
--- /dev/null
+++ b/docs/releases/v0.38.1.md
@@ -0,0 +1,10 @@
+# Changelog
+
+## [v0.38.1](https://github.com/aws-observability/aws-otel-collector/tree/v0.38.1) (2024-03-07)
+
+[Full Changelog](https://github.com/aws-observability/aws-otel-collector/compare/v0.38.0...v0.38.1)
+
+**Updates:**
+
+- Update Go to 1.22.1
+- Update google.golang.org/protobuf to 1.33.0
\ No newline at end of file
diff --git a/tools/packaging/windows/aws-otel-collector.wxs b/tools/packaging/windows/aws-otel-collector.wxs
index 931c728142..2e35247ec5 100644
--- a/tools/packaging/windows/aws-otel-collector.wxs
+++ b/tools/packaging/windows/aws-otel-collector.wxs
@@ -3,7 +3,7 @@
     <Product Id="EBBD8548-75D1-41D3-A402-ABE189F0C167"
 UpgradeCode="B7C263DD-95A5-436A-A025-DCA5200C2BE3"
 Name="ADOT Collector"
-Version="0.38.0"
+Version="0.38.1"
 Codepage='1252'
 Manufacturer="Amazon.com, Inc."
 Language="1033">