diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4562de32f..ed5af6525 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,7 +5,13 @@ All notable changes to [`QuantumToolbox.jl`](https://github.com/qutip/QuantumToo
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## Unreleased
+## [Unreleased](https://github.com/qutip/QuantumToolbox.jl/tree/main)
+
+
+
+## [v0.23.1] (2024-12-06)
+
+- Update `[compat]` to fix the incompatibility between `QuantumToolbox v0.22.0+` and `DiffEqCallbacks < v4.2.1`. ([#335])
 
 ## [v0.23.0] (2024-12-04)
 
@@ -32,6 +38,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 [v0.21.5]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.21.5
 [v0.22.0]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.22.0
 [v0.23.0]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.23.0
+[v0.23.1]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.23.1
 [#139]: https://github.com/qutip/QuantumToolbox.jl/issues/139
 [#306]: https://github.com/qutip/QuantumToolbox.jl/issues/306
 [#309]: https://github.com/qutip/QuantumToolbox.jl/issues/309
@@ -40,3 +47,4 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 [#318]: https://github.com/qutip/QuantumToolbox.jl/issues/318
 [#324]: https://github.com/qutip/QuantumToolbox.jl/issues/324
 [#330]: https://github.com/qutip/QuantumToolbox.jl/issues/330
+[#335]: https://github.com/qutip/QuantumToolbox.jl/issues/335
diff --git a/Project.toml b/Project.toml
index 35957b5c8..711c4828d 100644
--- a/Project.toml
+++ b/Project.toml
@@ -1,7 +1,7 @@
 name = "QuantumToolbox"
 uuid = "6c2fb7c5-b903-41d2-bc5e-5a7c320b9fab"
 authors = ["Alberto Mercurio", "Yi-Te Huang"]
-version = "0.23.0"
+version = "0.23.1"
 
 [deps]
 ArrayInterface = "4fba245c-0d91-5ea0-9b3e-6abc04ee57a9"
@@ -37,7 +37,7 @@ Aqua = "0.8"
 ArrayInterface = "6, 7"
 CUDA = "5"
 DiffEqBase = "6"
-DiffEqCallbacks = "2 - 3.1, 3.8, 4"
+DiffEqCallbacks = "4.2.1 - 4"
 DiffEqNoiseProcess = "5"
 Distributed = "1"
 FFTW = "1.5"