diff --git a/DESCRIPTION b/DESCRIPTION
index e9e0d2587..54ecdfc27 100644
--- a/DESCRIPTION
+++ b/DESCRIPTION
@@ -1,5 +1,5 @@
 Package: pak
-Version: 0.3.0.9000
+Version: 0.3.1
 Title: Another Approach to Package Installation
 Description: The goal of 'pak' is to make package installation faster and
     more reliable. In particular, it performs all HTTP operations in parallel,
diff --git a/NEWS.md b/NEWS.md
index 3d96d4d7b..b9969828e 100644
--- a/NEWS.md
+++ b/NEWS.md
@@ -1,4 +1,4 @@
-# pak (development version)
+# pak 0.3.1
 
 * The `?ignore` parameter works correctly now.