diff --git a/vertical-pod-autoscaler/deploy/admission-controller-deployment.yaml b/vertical-pod-autoscaler/deploy/admission-controller-deployment.yaml
index f6038303fe..1ba0bb0e64 100644
--- a/vertical-pod-autoscaler/deploy/admission-controller-deployment.yaml
+++ b/vertical-pod-autoscaler/deploy/admission-controller-deployment.yaml
@@ -13,7 +13,7 @@ spec:
       serviceAccountName: vpa-admission-controller
       containers:
       - name: admission-controller
-        image: k8s.gcr.io/vpa-admission-controller:0.3.0
+        image: k8s.gcr.io/vpa-admission-controller:0.3.1
         imagePullPolicy: Always
         env:
         - name: NAMESPACE
diff --git a/vertical-pod-autoscaler/deploy/recommender-deployment.yaml b/vertical-pod-autoscaler/deploy/recommender-deployment.yaml
index d1ae19a2a6..7ab6e86355 100644
--- a/vertical-pod-autoscaler/deploy/recommender-deployment.yaml
+++ b/vertical-pod-autoscaler/deploy/recommender-deployment.yaml
@@ -19,7 +19,7 @@ spec:
       serviceAccountName: vpa-recommender
       containers:
       - name: recommender
-        image: k8s.gcr.io/vpa-recommender:0.3.0
+        image: k8s.gcr.io/vpa-recommender:0.3.1
         imagePullPolicy: Always
         resources:
           limits:
diff --git a/vertical-pod-autoscaler/deploy/updater-deployment.yaml b/vertical-pod-autoscaler/deploy/updater-deployment.yaml
index 3293f02691..eef3994176 100644
--- a/vertical-pod-autoscaler/deploy/updater-deployment.yaml
+++ b/vertical-pod-autoscaler/deploy/updater-deployment.yaml
@@ -19,7 +19,7 @@ spec:
       serviceAccountName: vpa-updater
       containers:
       - name: updater
-        image: k8s.gcr.io/vpa-updater:0.3.0
+        image: k8s.gcr.io/vpa-updater:0.3.1
         imagePullPolicy: Always
         resources:
           limits:
diff --git a/vertical-pod-autoscaler/hack/vpa-process-yaml.sh b/vertical-pod-autoscaler/hack/vpa-process-yaml.sh
index a017ab9b88..3296dd5561 100755
--- a/vertical-pod-autoscaler/hack/vpa-process-yaml.sh
+++ b/vertical-pod-autoscaler/hack/vpa-process-yaml.sh
@@ -32,7 +32,7 @@ if [ $# -eq 0 ]; then
 fi
 
 DEFAULT_REGISTRY="k8s.gcr.io"
-DEFAULT_TAG="0.3.0"
+DEFAULT_TAG="0.3.1"
 
 REGISTRY_TO_APPLY=${REGISTRY-$DEFAULT_REGISTRY}
 TAG_TO_APPLY=${TAG-$DEFAULT_TAG}