diff --git a/README.md b/README.md
index 45a04c1ac08..9822d4ada0e 100644
--- a/README.md
+++ b/README.md
@@ -56,6 +56,7 @@ environments.
 
 | Ceph CSI Version | Container Orchestrator Name | Version Tested     |
 | -----------------| --------------------------- | -------------------|
+| v3.12.3          | Kubernetes                  | v1.29, v1.30, v1.31|
 | v3.12.2          | Kubernetes                  | v1.29, v1.30, v1.31|
 | v3.12.1          | Kubernetes                  | v1.29, v1.30, v1.31|
 | v3.12.0          | Kubernetes                  | v1.29, v1.30, v1.31|
@@ -130,6 +131,7 @@ in the Kubernetes documentation.
 | Ceph CSI Release/Branch | Container image name         | Image Tag |
 | ----------------------- | ---------------------------- | --------- |
 | devel (Branch)          | quay.io/cephcsi/cephcsi      | canary    |
+| v3.12.3 (Release)       | quay.io/cephcsi/cephcsi      | v3.12.3   |
 | v3.12.2 (Release)       | quay.io/cephcsi/cephcsi      | v3.12.2   |
 | v3.12.1 (Release)       | quay.io/cephcsi/cephcsi      | v3.12.1   |
 | v3.12.0 (Release)       | quay.io/cephcsi/cephcsi      | v3.12.0   |
diff --git a/build.env b/build.env
index 37f249f0f70..9f97fa09e06 100644
--- a/build.env
+++ b/build.env
@@ -9,7 +9,7 @@
 # get proporly expanded.
 #
 # cephcsi image version
-CSI_IMAGE_VERSION=v3.12-canary
+CSI_IMAGE_VERSION=v3.12.3
 
 # cephcsi upgrade version
 CSI_UPGRADE_VERSION=v3.11.0
diff --git a/charts/ceph-csi-cephfs/values.yaml b/charts/ceph-csi-cephfs/values.yaml
index a1109eec941..caf29f4cbb8 100644
--- a/charts/ceph-csi-cephfs/values.yaml
+++ b/charts/ceph-csi-cephfs/values.yaml
@@ -117,7 +117,7 @@ nodeplugin:
   plugin:
     image:
       repository: quay.io/cephcsi/cephcsi
-      tag: v3.12-canary
+      tag: v3.12.3
       pullPolicy: IfNotPresent
     resources: {}
 
diff --git a/charts/ceph-csi-rbd/values.yaml b/charts/ceph-csi-rbd/values.yaml
index 26d8bc4ae52..28a7ba60eeb 100644
--- a/charts/ceph-csi-rbd/values.yaml
+++ b/charts/ceph-csi-rbd/values.yaml
@@ -146,7 +146,7 @@ nodeplugin:
   plugin:
     image:
       repository: quay.io/cephcsi/cephcsi
-      tag: v3.12-canary
+      tag: v3.12.3
       pullPolicy: IfNotPresent
     resources: {}
 
diff --git a/deploy/cephfs/kubernetes/csi-cephfsplugin-provisioner.yaml b/deploy/cephfs/kubernetes/csi-cephfsplugin-provisioner.yaml
index 941de8e86c3..0609a18dd11 100644
--- a/deploy/cephfs/kubernetes/csi-cephfsplugin-provisioner.yaml
+++ b/deploy/cephfs/kubernetes/csi-cephfsplugin-provisioner.yaml
@@ -43,7 +43,7 @@ spec:
       priorityClassName: system-cluster-critical
       containers:
         - name: csi-cephfsplugin
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--nodeid=$(NODE_ID)"
             - "--type=cephfs"
@@ -142,7 +142,7 @@ spec:
             - name: socket-dir
               mountPath: /csi
         - name: liveness-prometheus
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--type=liveness"
             - "--endpoint=$(CSI_ENDPOINT)"
diff --git a/deploy/cephfs/kubernetes/csi-cephfsplugin.yaml b/deploy/cephfs/kubernetes/csi-cephfsplugin.yaml
index 593b3744633..1d5008417ed 100644
--- a/deploy/cephfs/kubernetes/csi-cephfsplugin.yaml
+++ b/deploy/cephfs/kubernetes/csi-cephfsplugin.yaml
@@ -26,7 +26,7 @@ spec:
             capabilities:
               add: ["SYS_ADMIN"]
             allowPrivilegeEscalation: true
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--nodeid=$(NODE_ID)"
             - "--type=cephfs"
@@ -124,7 +124,7 @@ spec:
           securityContext:
             privileged: true
             allowPrivilegeEscalation: true
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--type=liveness"
             - "--endpoint=$(CSI_ENDPOINT)"
diff --git a/deploy/nfs/kubernetes/csi-nfsplugin-provisioner.yaml b/deploy/nfs/kubernetes/csi-nfsplugin-provisioner.yaml
index d64280301f0..5480ca406c5 100644
--- a/deploy/nfs/kubernetes/csi-nfsplugin-provisioner.yaml
+++ b/deploy/nfs/kubernetes/csi-nfsplugin-provisioner.yaml
@@ -40,7 +40,7 @@ spec:
               topologyKey: "kubernetes.io/hostname"
       containers:
         - name: csi-nfsplugin
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--nodeid=$(NODE_ID)"
             - "--type=nfs"
@@ -120,7 +120,7 @@ spec:
             - name: socket-dir
               mountPath: /csi
         - name: liveness-prometheus
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--type=liveness"
             - "--endpoint=$(CSI_ENDPOINT)"
diff --git a/deploy/nfs/kubernetes/csi-nfsplugin.yaml b/deploy/nfs/kubernetes/csi-nfsplugin.yaml
index 6c92c768917..97a1e5397fe 100644
--- a/deploy/nfs/kubernetes/csi-nfsplugin.yaml
+++ b/deploy/nfs/kubernetes/csi-nfsplugin.yaml
@@ -26,7 +26,7 @@ spec:
             capabilities:
               add: ["SYS_ADMIN"]
             allowPrivilegeEscalation: true
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--nodeid=$(NODE_ID)"
             - "--type=nfs"
diff --git a/deploy/rbd/kubernetes/csi-rbdplugin-provisioner.yaml b/deploy/rbd/kubernetes/csi-rbdplugin-provisioner.yaml
index af567009875..fceb0c6a137 100644
--- a/deploy/rbd/kubernetes/csi-rbdplugin-provisioner.yaml
+++ b/deploy/rbd/kubernetes/csi-rbdplugin-provisioner.yaml
@@ -47,7 +47,7 @@ spec:
       priorityClassName: system-cluster-critical
       containers:
         - name: csi-rbdplugin
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--nodeid=$(NODE_ID)"
             - "--type=rbd"
@@ -172,7 +172,7 @@ spec:
             - name: socket-dir
               mountPath: /csi
         - name: csi-rbdplugin-controller
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--type=controller"
             - "--v=5"
@@ -193,7 +193,7 @@ spec:
             - name: ceph-config
               mountPath: /etc/ceph/
         - name: liveness-prometheus
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--type=liveness"
             - "--endpoint=$(CSI_ENDPOINT)"
diff --git a/deploy/rbd/kubernetes/csi-rbdplugin.yaml b/deploy/rbd/kubernetes/csi-rbdplugin.yaml
index 6cdf8d8aeaf..a5b8dfd7e1c 100644
--- a/deploy/rbd/kubernetes/csi-rbdplugin.yaml
+++ b/deploy/rbd/kubernetes/csi-rbdplugin.yaml
@@ -28,7 +28,7 @@ spec:
             capabilities:
               add: ["SYS_ADMIN"]
             allowPrivilegeEscalation: true
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--nodeid=$(NODE_ID)"
             - "--pluginpath=/var/lib/kubelet/plugins"
@@ -134,7 +134,7 @@ spec:
           securityContext:
             privileged: true
             allowPrivilegeEscalation: true
-          image: quay.io/cephcsi/cephcsi:v3.12-canary
+          image: quay.io/cephcsi/cephcsi:v3.12.3
           args:
             - "--type=liveness"
             - "--endpoint=$(CSI_ENDPOINT)"
diff --git a/docs/ceph-csi-upgrade.md b/docs/ceph-csi-upgrade.md
index 3d8f55f09cd..054f790a4e4 100644
--- a/docs/ceph-csi-upgrade.md
+++ b/docs/ceph-csi-upgrade.md
@@ -98,12 +98,12 @@ For example, upgrading from 3.10 to 3.12 is not recommended.
 [release notes](https://github.com/ceph/ceph-csi/releases/tag/v3.12.0) before
 proceeding further.**
 
-git checkout v3.12.2 tag
+git checkout v3.12.3 tag
 
 ```bash
 git clone https://github.com/ceph/ceph-csi.git
 cd ./ceph-csi
-git checkout v3.12.2
+git checkout v3.12.3
 ```
 
 ```console