diff --git a/CHANGELOG.md b/CHANGELOG.md
index 33bf2577..3ea8fb14 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,10 @@ Changelog
 NOTE: isort follows the [semver](https://semver.org/) versioning standard.
 Find out more about isort's release policy [here](https://pycqa.github.io/isort/docs/major_releases/release_policy).
 
+### 5.11.1 December 12 2022
+
+  - Hotfix #2031: only call `colorama.init` if `colorama` is available (#2032) @tomaarsen
+
 ### 5.11.0 December 12 2022
 
   - Added official support for Python 3.11 (#1996, #2008, #2011) @staticdev
diff --git a/pyproject.toml b/pyproject.toml
index c6930efd..fdb43c4c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -3,7 +3,7 @@ line-length = 100
 
 [tool.poetry]
 name = "isort"
-version = "5.11.0"
+version = "5.11.1"
 description = "A Python utility / library to sort Python imports."
 authors = ["Timothy Crosley <timothy.crosley@gmail.com>"]
 license = "MIT"