diff --git a/_config.yml b/_config.yml
index 7fe09df78a..a280a272b0 100644
--- a/_config.yml
+++ b/_config.yml
@@ -23,7 +23,7 @@ latest_stable_docker_engine_api_version: "1.37"
 docker_ce_stable_version: "18.03"
 docker_ce_edge_version: "18.05"
 docker_ee_version: "17.06"
-compose_version: "1.23.0"
+compose_version: "1.23.1"
 machine_version: "0.14.0"
 distribution_version: "2.6"
 dtr_version: "2.5"
diff --git a/release-notes/docker-compose.md b/release-notes/docker-compose.md
index 27f8bff61f..d4a72da42b 100644
--- a/release-notes/docker-compose.md
+++ b/release-notes/docker-compose.md
@@ -5,6 +5,16 @@ keywords: release notes, compose
 toc_max: 2
 ---
 
+## 1.23.1 (2018-11-01)
+
+### Bug Fixes
+
+- Fixed a bug where working with containers created with a version of Compose earlier than `1.23.0`
+  would cause unexpected crashes.
+
+- Fixed an issue where the behavior of the `--project-directory` flag would
+  vary depending on which subcommand was used.
+
 ## 1.23.0 (2018-10-30)
 
 ### Important note