diff --git a/charts/esphome/Chart.yaml b/charts/esphome/Chart.yaml
index ec00c3e0d..924ebe5b4 100644
--- a/charts/esphome/Chart.yaml
+++ b/charts/esphome/Chart.yaml
@@ -4,9 +4,9 @@ description: ESPHome is a system to control your ESP8266/ESP32 by simple yet pow
 home: https://charts.gabe565.com/charts/esphome/
 icon: https://raw.githubusercontent.com/esphome/esphome-docs/0191785/images/logo.svg
 type: application
-version: 0.13.1
+version: 0.14.0
 # renovate datasource=docker depName=ghcr.io/esphome/esphome
-appVersion: 2024.2.2
+appVersion: 2024.3.1
 kubeVersion: ">=1.22.0-0"
 keywords:
   - home-automation
@@ -23,7 +23,7 @@ sources:
 annotations:
   artifacthub.io/changes: |-
     - kind: changed
-      description: Update ghcr.io/esphome/esphome docker tag to v2024.2.2
+      description: Update ghcr.io/esphome/esphome docker tag to v2024.3.1
   artifacthub.io/links: |-
     - name: App Source
       url: https://github.com/esphome/esphome
diff --git a/charts/esphome/README.md b/charts/esphome/README.md
index 8248baf87..f21e36dfa 100644
--- a/charts/esphome/README.md
+++ b/charts/esphome/README.md
@@ -2,16 +2,16 @@
 
 <img src="https://raw.githubusercontent.com/esphome/esphome-docs/0191785/images/logo.svg" align="right" width="92" alt="esphome logo">
 
-![Version: 0.13.1](https://img.shields.io/badge/Version-0.13.1-informational?style=flat)
+![Version: 0.14.0](https://img.shields.io/badge/Version-0.14.0-informational?style=flat)
 ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat)
-![AppVersion: 2024.2.2](https://img.shields.io/badge/AppVersion-2024.2.2-informational?style=flat)
+![AppVersion: 2024.3.1](https://img.shields.io/badge/AppVersion-2024.3.1-informational?style=flat)
 
 ESPHome is a system to control your ESP8266/ESP32 by simple yet powerful configuration files and control them remotely through Home Automation systems.
 
 **Homepage:** <https://charts.gabe565.com/charts/esphome/>
 
 **This chart is not maintained by the upstream project and any issues with the chart should be raised
-[here](https://github.com/gabe565/charts/issues/new?assignees=gabe565&labels=bug&template=bug_report.yaml&name=esphome&version=0.13.1)**
+[here](https://github.com/gabe565/charts/issues/new?assignees=gabe565&labels=bug&template=bug_report.yaml&name=esphome&version=0.14.0)**
 
 ## Source Code
 
@@ -104,7 +104,7 @@ dnsPolicy: None
 | env | object | See [values.yaml](./values.yaml) | Environment variables. |
 | image.pullPolicy | string | `"IfNotPresent"` | image pull policy |
 | image.repository | string | `"ghcr.io/esphome/esphome"` | image repository |
-| image.tag | string | `"2024.2.2"` | image tag |
+| image.tag | string | `"2024.3.1"` | image tag |
 | ingress.main | object | See [values.yaml](./values.yaml) | Enable and configure ingress settings for the chart under this key. |
 | persistence | object | See [values.yaml](./values.yaml) | Configure persistence settings for the chart under this key. |
 | service | object | See [values.yaml](./values.yaml) | Configures service settings for the chart. |
diff --git a/charts/esphome/values.yaml b/charts/esphome/values.yaml
index f6aca48b1..cab96a350 100644
--- a/charts/esphome/values.yaml
+++ b/charts/esphome/values.yaml
@@ -11,7 +11,7 @@ image:
   # -- image pull policy
   pullPolicy: IfNotPresent
   # -- image tag
-  tag: 2024.2.2
+  tag: 2024.3.1
 
 # -- Environment variables.
 # @default -- See [values.yaml](./values.yaml)