diff --git a/asteroid/__init__.py b/asteroid/__init__.py
index 94fd06043..eb079268f 100644
--- a/asteroid/__init__.py
+++ b/asteroid/__init__.py
@@ -3,7 +3,7 @@
 from .models import ConvTasNet, DPRNNTasNet, DPTNet, LSTMTasNet
 
 project_root = str(pathlib.Path(__file__).expanduser().absolute().parent.parent)
-__version__ = "0.3.1rc2"
+__version__ = "0.3.1"
 
 
 def show_available_models():
diff --git a/setup.py b/setup.py
index 763e0899a..cbcd152ce 100644
--- a/setup.py
+++ b/setup.py
@@ -1,6 +1,6 @@
 from setuptools import setup, find_packages
 
-asteroid_version = "0.3.1rc2"
+asteroid_version = "0.3.1"
 
 with open("README.md", encoding="utf-8") as fh:
     long_description = fh.read()