diff --git a/Cargo.lock b/Cargo.lock
index f19541693..5aa880105 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -439,7 +439,7 @@ checksum = "702fc72eb24e5a1e48ce58027a675bc24edd52096d5397d4aea7c6dd9eca0bd1"
 
 [[package]]
 name = "cloud-hypervisor"
-version = "37.0.0"
+version = "37.1.0"
 dependencies = [
  "anyhow",
  "api_client",
diff --git a/Cargo.toml b/Cargo.toml
index 6c3bcc04a..0e8599a46 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "cloud-hypervisor"
-version = "37.0.0"
+version = "37.1.0"
 authors = ["The Cloud Hypervisor Authors"]
 edition = "2021"
 default-run = "cloud-hypervisor"
diff --git a/release-notes.md b/release-notes.md
index 39a55590d..b8f1e19be 100644
--- a/release-notes.md
+++ b/release-notes.md
@@ -1,3 +1,4 @@
+- [v37.1](#v371)
 - [v37.0](#v370)
     - [Long Term Support (LTS) Release](#long-term-support-lts-release)
     - [Improved VFIO Device Passthrough with Multiple PCI Segments](#improved-vfio-device-passthrough-with-multiple-pci-segments)
@@ -318,6 +319,18 @@
     - [Unit testing](#unit-testing)
     - [Integration tests parallelization](#integration-tests-parallelization)
 
+# v37.1
+
+This is a bug fix release. The following issues have been addressed:
+
+* Fix several security advisories from dependencies (#6134, #6141)
+* Enable HTT flag to avoid crashing cpu topology enumeration software
+such as hwloc in the guest (#6146)
+* Enable nested virtualization on AMD if supported (#6106)
+* Handle non-power-of-two CPU topology properly (#6062)
+* Various bug fixes around virtio-vsock(#6080, #6091, #6095)
+* Align VFIO devices PCI BARs naturally (#6196)
+
 # v37.0
 
 This release has been tracked in our [roadmap
diff --git a/vm-migration/src/lib.rs b/vm-migration/src/lib.rs
index fc6398367..2fb08af7f 100644
--- a/vm-migration/src/lib.rs
+++ b/vm-migration/src/lib.rs
@@ -13,7 +13,7 @@ pub mod protocol;
 
 /// Global VMM version for versioning
 const MAJOR_VERSION: u16 = 37;
-const MINOR_VERSION: u16 = 0;
+const MINOR_VERSION: u16 = 1;
 const VMM_VERSION: u16 = MAJOR_VERSION << 12 | MINOR_VERSION & 0b1111;
 
 pub trait VersionMapped {