diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index a7b56c4fc4..3cb6de83f4 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -3,7 +3,7 @@
   "keptn-cert-manager": "2.2.1",
   "runtimes/python-runtime": "1.0.6",
   "runtimes/deno-runtime": "2.0.5",
-  "lifecycle-operator": "1.1.0",
+  "lifecycle-operator": "1.1.1",
   "scheduler": "1.0.1",
   "metrics-operator": "1.0.2"
 }
diff --git a/lifecycle-operator/CHANGELOG.md b/lifecycle-operator/CHANGELOG.md
index f855bcde03..33107f2127 100644
--- a/lifecycle-operator/CHANGELOG.md
+++ b/lifecycle-operator/CHANGELOG.md
@@ -1,5 +1,26 @@
 # Changelog
 
+## [1.1.1](https://github.com/keptn/lifecycle-toolkit/compare/lifecycle-operator-v1.1.0...lifecycle-operator-v1.1.1) (2024-08-26)
+
+
+### Bug Fixes
+
+* **lifecycle-operator:** update ownerReference when updating KeptnWorkload ([#3683](https://github.com/keptn/lifecycle-toolkit/issues/3683)) ([de2c441](https://github.com/keptn/lifecycle-toolkit/commit/de2c4412021b0aff8f2276830205f7fab1586c41))
+
+
+### Other
+
+* backport helm chart versions ([#3662](https://github.com/keptn/lifecycle-toolkit/issues/3662)) ([81320a5](https://github.com/keptn/lifecycle-toolkit/commit/81320a534f52cf16d3e59c76b451c92b3502b35f))
+
+
+### Dependency Updates
+
+* update all golang.org/x packages ([#3708](https://github.com/keptn/lifecycle-toolkit/issues/3708)) ([1014268](https://github.com/keptn/lifecycle-toolkit/commit/1014268f72066049bd707373feea367f680d0132))
+* update golang docker tag to v1.22.6 ([#3692](https://github.com/keptn/lifecycle-toolkit/issues/3692)) ([73b30ee](https://github.com/keptn/lifecycle-toolkit/commit/73b30ee6a0748535d8af1160a7c0b8e2f2c04ec2))
+* update module dario.cat/mergo to v1.0.1 ([#3694](https://github.com/keptn/lifecycle-toolkit/issues/3694)) ([80d8e9d](https://github.com/keptn/lifecycle-toolkit/commit/80d8e9de846adef30c5061c4e16e82698069b890))
+* update module github.com/argoproj/argo-rollouts to v1.7.2 ([#3695](https://github.com/keptn/lifecycle-toolkit/issues/3695)) ([e0445d9](https://github.com/keptn/lifecycle-toolkit/commit/e0445d9d76d5589a7ae711e8d0dbfe617a7cb20c))
+* update module github.com/onsi/ginkgo/v2 to v2.20.1 ([#3704](https://github.com/keptn/lifecycle-toolkit/issues/3704)) ([df11440](https://github.com/keptn/lifecycle-toolkit/commit/df1144084e337c8eda64e2635b8ee534fd10252f))
+
 ## [1.1.0](https://github.com/keptn/lifecycle-toolkit/compare/lifecycle-operator-v1.0.0...lifecycle-operator-v1.1.0) (2024-08-06)
 
 
diff --git a/lifecycle-operator/Makefile b/lifecycle-operator/Makefile
index 5c1ef8a94f..78f1435ccf 100644
--- a/lifecycle-operator/Makefile
+++ b/lifecycle-operator/Makefile
@@ -7,7 +7,7 @@ RELEASE_REGISTRY?=ghcr.io/keptn
 RELEASE_TIME=$(shell date +%Y%m%d%s)
 BUILD_TIME=$(shell date -u "+%F_%T")
 RELEASE_VERSION?=$(RELEASE_TIME)-v0.24.3#$(shell git describe --tags --match "v*")
-TAG?="v1.1.0" # x-release-please-version
+TAG?="v1.1.1" # x-release-please-version
 RELEASE_IMAGE:=lifecycle-operator:$(TAG)
 CHART_APPVERSION?=""
 
diff --git a/lifecycle-operator/chart/Chart.yaml b/lifecycle-operator/chart/Chart.yaml
index 6a189c303a..f84add5782 100644
--- a/lifecycle-operator/chart/Chart.yaml
+++ b/lifecycle-operator/chart/Chart.yaml
@@ -28,8 +28,8 @@ annotations:
   artifacthub.io/operatorCapabilities: Full Lifecycle
 kubeVersion: '>= 1.24.0-0'
 type: application
-version: 0.4.0
-appVersion: v1.1.0 # x-release-please-version
+version: 1.1.1
+appVersion: v1.1.0
 dependencies:
   - name: common
     repository: https://charts.lifecycle.keptn.sh
diff --git a/lifecycle-operator/chart/values.yaml b/lifecycle-operator/chart/values.yaml
index e855d6c99b..075ee0d446 100644
--- a/lifecycle-operator/chart/values.yaml
+++ b/lifecycle-operator/chart/values.yaml
@@ -109,7 +109,7 @@ lifecycleOperator:
 ## @param   lifecycleOperator.image.repository specify registry for manager image
     repository: keptn/lifecycle-operator
 ## @param   lifecycleOperator.image.tag  select tag for manager image
-    tag: v1.1.0 # x-release-please-version
+    tag: v1.1.1 # x-release-please-version
 ## @param   lifecycleOperator.image.imagePullPolicy specify pull policy for the manager image. This overrides global values
     imagePullPolicy: ""
 ## @extra  lifecycleOperator.livenessProbe custom liveness probe for manager container