diff --git a/CHANGELOG.md b/CHANGELOG.md
index bbdf13cf..d917b0a9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -10,6 +10,7 @@
 * Add `NVIDIA_VISIBLE_DEVICES=void` to generated CDI specifications.
 
 * [toolkit-container] Remove centos7 image. The ubi8 image can be used on all RPM-based platforms.
+* [toolkit-container] Bump CUDA base image version to 12.3.2
 
 ## v1.15.0-rc.3
 * Fix bug in `nvidia-ctk hook update-ldcache` where default `--ldconfig-path` value was not applied.
diff --git a/versions.mk b/versions.mk
index 8b6c1909..8a3872e7 100644
--- a/versions.mk
+++ b/versions.mk
@@ -27,7 +27,7 @@ PACKAGE_REVISION := 1
 NVIDIA_DOCKER_VERSION := 2.14.0
 NVIDIA_CONTAINER_RUNTIME_VERSION := 3.14.0
 
-CUDA_VERSION := 12.3.1
+CUDA_VERSION := 12.3.2
 GOLANG_VERSION := 1.20.5
 
 BUILDIMAGE_TAG ?= devel-go$(GOLANG_VERSION)