diff --git a/config_example.sh b/config_example.sh
index 0502001bb..fff7a2cd7 100644
--- a/config_example.sh
+++ b/config_example.sh
@@ -133,8 +133,8 @@
 #
 #export CAPI_VERSION=v1beta1
 
-#export KUBERNETES_VERSION="v1.32.0"
-#export UPGRADED_K8S_VERSION="v1.32.0"
+#export KUBERNETES_VERSION="v1.32.1"
+#export UPGRADED_K8S_VERSION="v1.32.1"
 
 # Version of kubelet, kubeadm and kubectl binaries
 #export KUBERNETES_BINARIES_VERSION="${KUBERNETES_BINARIES_VERSION:-${KUBERNETES_VERSION}}"
@@ -149,11 +149,11 @@
 
 # Image for target hosts deployment
 #
-#export IMAGE_NAME="CENTOS_9_NODE_IMAGE_K8S_v1.32.0.qcow2"
+#export IMAGE_NAME="CENTOS_9_NODE_IMAGE_K8S_v1.32.1.qcow2"
 
 # Location of the image to download
 #
-#export IMAGE_LOCATION="https://artifactory.nordix.org/artifactory/metal3/images/k8s_v1.32.0"
+#export IMAGE_LOCATION="https://artifactory.nordix.org/artifactory/metal3/images/k8s_v1.32.1"
 
 # Image username for ssh
 #
@@ -207,7 +207,7 @@
 # Uncomment the line below to build ironic-image from source
 # export IRONIC_FROM_SOURCE="true"
 
-# Skip applying BMHs 
+# Skip applying BMHs
 # export SKIP_APPLY_BMH="true"
 
 # To enable FakeIPA and run dev-env on a fake platform
diff --git a/lib/common.sh b/lib/common.sh
index f63639510..35141d4b1 100644
--- a/lib/common.sh
+++ b/lib/common.sh
@@ -352,7 +352,7 @@ export TARGET_NODE_MEMORY="${TARGET_NODE_MEMORY:-4096}"
 
 # Cluster
 export CLUSTER_NAME="${CLUSTER_NAME:-test1}"
-export KUBERNETES_VERSION="${KUBERNETES_VERSION:-v1.32.0}"
+export KUBERNETES_VERSION="${KUBERNETES_VERSION:-v1.32.1}"
 export KUBERNETES_BINARIES_VERSION="${KUBERNETES_BINARIES_VERSION:-${KUBERNETES_VERSION}}"
 export KUBERNETES_BINARIES_CONFIG_VERSION=${KUBERNETES_BINARIES_CONFIG_VERSION:-"v0.15.1"}
 
@@ -378,7 +378,7 @@ export MINIKUBE_VERSION="${MINIKUBE_VERSION:-v1.35.0}"
 
 # Kind, kind node image versions (if EPHEMERAL_CLUSTER=kind)
 export KIND_VERSION="${KIND_VERSION:-v0.26.0}"
-export KIND_NODE_IMAGE_VERSION="${KIND_NODE_IMAGE_VERSION:-v1.32.0}"
+export KIND_NODE_IMAGE_VERSION="${KIND_NODE_IMAGE_VERSION:-v1.32.1}"
 export KIND_NODE_IMAGE="${KIND_NODE_IMAGE:-${DOCKER_HUB_PROXY}/kindest/node:${KIND_NODE_IMAGE_VERSION}}"
 
 # Tilt
diff --git a/tests/roles/run_tests/vars/main.yml b/tests/roles/run_tests/vars/main.yml
index 5d392fae9..3e90755b2 100644
--- a/tests/roles/run_tests/vars/main.yml
+++ b/tests/roles/run_tests/vars/main.yml
@@ -18,13 +18,13 @@ NODE_DRAIN_TIMEOUT: "{{ lookup('env', 'NODE_DRAIN_TIMEOUT') | default('0s', true
 BMOPATH: "{{ lookup('env', 'BMOPATH') }}"
 IRONIC_DATA_DIR: "{{ lookup('env', 'IRONIC_DATA_DIR') }}"
 KUBECONFIG_PATH: "/home/ubuntu/.kube/config"
-KUBERNETES_VERSION: "{{ lookup('env', 'KUBERNETES_VERSION') | default('v1.32.0', true) }}"
-UPGRADED_K8S_VERSION: "{{ lookup('env', 'UPGRADED_K8S_VERSION') | default('v1.32.0', true) }}"
+KUBERNETES_VERSION: "{{ lookup('env', 'KUBERNETES_VERSION') | default('v1.32.1', true) }}"
+UPGRADED_K8S_VERSION: "{{ lookup('env', 'UPGRADED_K8S_VERSION') | default('v1.32.1', true) }}"
 MAX_SURGE_VALUE: "{{ lookup('env', 'MAX_SURGE_VALUE') | default('1', true) }}"
 VM_EXTRADISKS: "{{ lookup('env', 'VM_EXTRADISKS') | default('false', true) }}"
 VM_EXTRADISKS_FILE_SYSTEM: "{{ lookup('env', 'VM_EXTRADISKS_FILE_SYSTEM') | default('ext4', true) }}"
 VM_EXTRADISKS_MOUNT_DIR: "{{ lookup('env', 'VM_EXTRADISKS_MOUNT_DIR') | default('/mnt/disk2') }}"
-KUBERNETES_BINARIES_VERSION: "{{ lookup('env', 'KUBERNETES_BINARIES_VERSION') | default(lookup('env', 'KUBERNETES_VERSION') | default('v1.32.0', true), true) }}"
+KUBERNETES_BINARIES_VERSION: "{{ lookup('env', 'KUBERNETES_BINARIES_VERSION') | default(lookup('env', 'KUBERNETES_VERSION') | default('v1.32.1', true), true) }}"
 KUBERNETES_BINARIES_CONFIG_VERSION: "{{ lookup('env', 'KUBERNETES_BINARIES_CONFIG_VERSION') | default('v0.15.1', true) }}"
 IP_STACK: "{{ lookup('env', 'IP_STACK') | default('v4', true) }}"
 IPAM_PROVISIONING_POOL_RANGE_START: "{{ lookup('env', 'IPAM_PROVISIONING_POOL_RANGE_START') | default('172.22.0.100', true) }}"
diff --git a/vars.md b/vars.md
index 170d6fae0..68465c156 100644
--- a/vars.md
+++ b/vars.md
@@ -53,8 +53,8 @@ assured that they are persisted.
 | BARE_METAL_PROVISIONER_INTERFACE | Cluster provisioning Interface | "ironicendpoint" | "ironicendpoint" |
 | POD_CIDR | Pod CIDR | "x.x.x.x/x" | "192.168.0.0/18" |
 | NODE_HOSTNAME_FORMAT | Node hostname format. This is a format string that must contain exactly one %d format field that will be replaced with an integer representing the number of the node. | "node-%d" | "node-%d" |
-| KUBERNETES_VERSION | Kubernetes version | "x.x.x" | "1.32.0" |
-| UPGRADED_K8S_VERSION | Upgraded Kubernetes version | "x.x.x" | "1.32.0" |
+| KUBERNETES_VERSION | Kubernetes version | "x.x.x" | "1.32.1" |
+| UPGRADED_K8S_VERSION | Upgraded Kubernetes version | "x.x.x" | "1.32.1" |
 | KUBERNETES_BINARIES_VERSION | Version of kubelet, kubeadm and kubectl | "x.x.x-xx" or "x.x.x" | same as KUBERNETES_VERSION |
 | KUBERNETES_BINARIES_CONFIG_VERSION | Version of kubelet.service and 10-kubeadm.conf files | "vx.x.x" | "v0.13.0" |
 | LIBVIRT_DOMAIN_TYPE | Which hypervisor to use for the virtual machines libvirt domain, default to kvm. It is possible to switch to qemu in case nested virtualization is not available, although it's considered experimental at this stage of development. | "kvm", "qemu" | "kvm" |