diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 878f12e33425..5191be45a90f 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -501,7 +501,7 @@
   "google-cloud-kms+FILLER": "0.0.0",
   "google-cloud-kms-inventory": "1.5.0",
   "google-cloud-kms-inventory+FILLER": "0.0.0",
-  "google-cloud-kms-inventory-v1": "0.22.0",
+  "google-cloud-kms-inventory-v1": "0.23.0",
   "google-cloud-kms-inventory-v1+FILLER": "0.0.0",
   "google-cloud-kms-v1": "1.14.0",
   "google-cloud-kms-v1+FILLER": "0.0.0",
diff --git a/google-cloud-kms-inventory-v1/CHANGELOG.md b/google-cloud-kms-inventory-v1/CHANGELOG.md
index 0ff55bff96d2..1217f52acf54 100644
--- a/google-cloud-kms-inventory-v1/CHANGELOG.md
+++ b/google-cloud-kms-inventory-v1/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+### 0.23.0 (2026-07-18)
+
+#### Features
+
+* Add support for trusted key wrapping and HSM key trust upgrades ([#34850](https://github.com/googleapis/google-cloud-ruby/issues/34850)) 
+
 ### 0.22.0 (2026-06-30)
 
 #### Features
diff --git a/google-cloud-kms-inventory-v1/lib/google/cloud/kms/inventory/v1/version.rb b/google-cloud-kms-inventory-v1/lib/google/cloud/kms/inventory/v1/version.rb
index 9e77c156b54b..77c582f79519 100644
--- a/google-cloud-kms-inventory-v1/lib/google/cloud/kms/inventory/v1/version.rb
+++ b/google-cloud-kms-inventory-v1/lib/google/cloud/kms/inventory/v1/version.rb
@@ -22,7 +22,7 @@ module Cloud
     module Kms
       module Inventory
         module V1
-          VERSION = "0.22.0"
+          VERSION = "0.23.0"
         end
       end
     end
diff --git a/google-cloud-kms-inventory-v1/snippets/snippet_metadata_google.cloud.kms.inventory.v1.json b/google-cloud-kms-inventory-v1/snippets/snippet_metadata_google.cloud.kms.inventory.v1.json
index d670b817c0ae..518d9fbaa9e5 100644
--- a/google-cloud-kms-inventory-v1/snippets/snippet_metadata_google.cloud.kms.inventory.v1.json
+++ b/google-cloud-kms-inventory-v1/snippets/snippet_metadata_google.cloud.kms.inventory.v1.json
@@ -1,7 +1,7 @@
 {
   "client_library": {
     "name": "google-cloud-kms-inventory-v1",
-    "version": "0.22.0",
+    "version": "0.23.0",
     "language": "RUBY",
     "apis": [
       {