diff --git a/README.md b/README.md
index a6fb96158ff..4a6671ad814 100644
--- a/README.md
+++ b/README.md
@@ -56,7 +56,7 @@ Make sure you activated the full features of the tokio crate on Cargo.toml:
 
 ```toml
 [dependencies]
-tokio = { version = "1.31.0", features = ["full"] }
+tokio = { version = "1.32.0", features = ["full"] }
 ```
 Then, on your main.rs:
 
diff --git a/tokio/CHANGELOG.md b/tokio/CHANGELOG.md
index df4cfdf1fef..eb40bc10100 100644
--- a/tokio/CHANGELOG.md
+++ b/tokio/CHANGELOG.md
@@ -1,3 +1,23 @@
+# 1.32.0 (August 16, 2023)
+
+### Fixed
+
+- sync: fix potential quadradic behavior in `broadcast::Receiver` ([#5925])
+
+### Added
+
+- process: stabilize `Command::raw_arg` ([#5930])
+- io: enable awaiting error readiness ([#5781])
+
+### Unstable
+
+- rt(alt): improve scalability of alt runtime as the number of cores grows ([#5935])
+
+[#5925]: https://github.com/tokio-rs/tokio/pull/5925
+[#5930]: https://github.com/tokio-rs/tokio/pull/5930
+[#5781]: https://github.com/tokio-rs/tokio/pull/5781
+[#5935]: https://github.com/tokio-rs/tokio/pull/5935
+
 # 1.31.0 (August 10, 2023)
 
 ### Fixed
@@ -6,7 +26,7 @@
 
 ### Unstable
 
-* rt(unstable): fix memory leak in unstable next-gen scheduler prototype ([#5911])
+* rt(alt): fix memory leak in unstable next-gen scheduler prototype ([#5911])
 * rt: expose mean task poll time metric ([#5927])
 
 [#5914]: https://github.com/tokio-rs/tokio/pull/5914
diff --git a/tokio/Cargo.toml b/tokio/Cargo.toml
index 378a4957824..19384b75d54 100644
--- a/tokio/Cargo.toml
+++ b/tokio/Cargo.toml
@@ -6,7 +6,7 @@ name = "tokio"
 #   - README.md
 # - Update CHANGELOG.md.
 # - Create "v1.x.y" git tag.
-version = "1.31.0"
+version = "1.32.0"
 edition = "2021"
 rust-version = "1.63"
 authors = ["Tokio Contributors <team@tokio.rs>"]
diff --git a/tokio/README.md b/tokio/README.md
index a6fb96158ff..4a6671ad814 100644
--- a/tokio/README.md
+++ b/tokio/README.md
@@ -56,7 +56,7 @@ Make sure you activated the full features of the tokio crate on Cargo.toml:
 
 ```toml
 [dependencies]
-tokio = { version = "1.31.0", features = ["full"] }
+tokio = { version = "1.32.0", features = ["full"] }
 ```
 Then, on your main.rs: