diff --git a/.release-please-manifest-individual.json b/.release-please-manifest-individual.json
index eff6cb7ed9e..0b67af4d024 100644
--- a/.release-please-manifest-individual.json
+++ b/.release-please-manifest-individual.json
@@ -5,7 +5,7 @@
   "errorreporting": "0.3.0",
   "firestore": "1.9.0",
   "logging": "1.6.0",
-  "profiler": "0.3.0",
+  "profiler": "0.3.1",
   "pubsub": "1.27.0",
   "pubsublite": "1.5.0",
   "spanner": "1.41.0",
diff --git a/profiler/CHANGES.md b/profiler/CHANGES.md
index dd54c8558c8..4e5d1118bc8 100644
--- a/profiler/CHANGES.md
+++ b/profiler/CHANGES.md
@@ -1,5 +1,12 @@
 # Changes
 
+## [0.3.1](https://github.com/googleapis/google-cloud-go/compare/profiler/v0.3.0...profiler/v0.3.1) (2022-12-02)
+
+
+### Bug Fixes
+
+* **profiler:** downgrade some dependencies ([7540152](https://github.com/googleapis/google-cloud-go/commit/754015236d5af7c82a75da218b71a87b9ead6eb5))
+
 ## [0.3.0](https://github.com/googleapis/google-cloud-go/compare/profiler/v0.2.0...profiler/v0.3.0) (2022-05-19)
 
 
diff --git a/profiler/internal/version.go b/profiler/internal/version.go
index 2d40693cc33..f244b8b5238 100644
--- a/profiler/internal/version.go
+++ b/profiler/internal/version.go
@@ -15,4 +15,4 @@
 package internal
 
 // Version is the current tagged release of the library.
-const Version = "0.3.0"
+const Version = "0.3.1"