diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5e027ae9..0dbe031e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,8 @@
 
 ## master / unreleased
 
+* [DEPENDENCY] Update quay.io/cortexproject/cortex Docker tag to v1.17.1 #501
+
 ## 2.3.0 / 2024-04-12
 
 * [ENHANCEMENT] Alertmanager: Add `grpc` port #494 
diff --git a/Chart.yaml b/Chart.yaml
index db4cf4a2..411cbc8e 100755
--- a/Chart.yaml
+++ b/Chart.yaml
@@ -1,6 +1,6 @@
 apiVersion: v2
 version: 2.3.0
-appVersion: v1.16.0
+appVersion: v1.17.1
 description: 'Horizontally scalable, highly available, multi-tenant, long term Prometheus.'
 home: https://cortexmetrics.io/
 icon: https://avatars2.githubusercontent.com/u/43045022?s=200&v=4
diff --git a/README.md b/README.md
index 51e47124..1a6c775f 100644
--- a/README.md
+++ b/README.md
@@ -2,7 +2,7 @@
 
 # cortex
 
-![Version: 2.3.0](https://img.shields.io/badge/Version-2.3.0-informational?style=flat-square) ![AppVersion: v1.16.0](https://img.shields.io/badge/AppVersion-v1.16.0-informational?style=flat-square)
+![Version: 2.3.0](https://img.shields.io/badge/Version-2.3.0-informational?style=flat-square) ![AppVersion: v1.17.1](https://img.shields.io/badge/AppVersion-v1.17.1-informational?style=flat-square)
 
 Horizontally scalable, highly available, multi-tenant, long term Prometheus.