diff --git a/CHANGELOG.md b/CHANGELOG.md
index d0ac384f2..08c37c1fc 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+### [2.18.1](https://github.com/googleapis/gax-java/compare/v2.18.0...v2.18.1) (2022-05-19)
+
+
+### Dependencies
+
+* upgrade grpc to 1.46.0 ([#1688](https://github.com/googleapis/gax-java/issues/1688)) ([18147a4](https://github.com/googleapis/gax-java/commit/18147a4f558635b27d30eb05468321b52321db13))
+
 ## [2.18.0](https://github.com/googleapis/gax-java/compare/v2.17.0...v2.18.0) (2022-05-18)
 
 
diff --git a/build.gradle b/build.gradle
index 05cabe4a1..e9da5fa4b 100644
--- a/build.gradle
+++ b/build.gradle
@@ -13,7 +13,7 @@ plugins {
 }
 
 // TODO: Populate this from dependencies.properties version property (for proper Gradle-Bazel sync)
-project.version = "2.18.0" // {x-version-update:gax:current}
+project.version = "2.18.1" // {x-version-update:gax:current}
 
 allprojects {
   group = 'com.google.api'
diff --git a/dependencies.properties b/dependencies.properties
index fbc282273..701aa257d 100644
--- a/dependencies.properties
+++ b/dependencies.properties
@@ -8,16 +8,16 @@
 
 # Versions of oneself
 # {x-version-update-start:gax:current}
-version.gax=2.18.0
+version.gax=2.18.1
 # {x-version-update-end}
 # {x-version-update-start:gax:current}
-version.gax_grpc=2.18.0
+version.gax_grpc=2.18.1
 # {x-version-update-end}
 # {x-version-update-start:gax:current}
-version.gax_bom=2.18.0
+version.gax_bom=2.18.1
 # {x-version-update-end}
 # {x-version-update-start:gax-httpjson:current}
-version.gax_httpjson=0.103.0
+version.gax_httpjson=0.103.1
 # {x-version-update-end}
 
 # Versions for dependencies which actual artifacts differ between Bazel and Gradle.
@@ -25,7 +25,7 @@ version.gax_httpjson=0.103.0
 # with the sources.
 version.com_google_protobuf=3.19.4
 version.google_java_format=1.1
-version.io_grpc=1.45.1
+version.io_grpc=1.46.0
 
 # Maven artifacts.
 # Note, the actual name of each property matters (bazel build scripts depend on it).
diff --git a/gax-bom/build.gradle b/gax-bom/build.gradle
index 07d5b5e8a..3d6c09480 100644
--- a/gax-bom/build.gradle
+++ b/gax-bom/build.gradle
@@ -5,7 +5,7 @@ plugins {
 
 archivesBaseName = 'gax-bom'
 
-project.version = "2.18.0" // {x-version-update:gax-bom:current}
+project.version = "2.18.1" // {x-version-update:gax-bom:current}
 
 def mavenJavaDir = "$buildDir/publications/mavenJava"
 def mavenJavaBomOutputFile = file(mavenJavaDir + '/pom-default.xml')
diff --git a/gax-bom/pom.xml b/gax-bom/pom.xml
index f4fda7366..2d52f73e3 100644
--- a/gax-bom/pom.xml
+++ b/gax-bom/pom.xml
@@ -3,7 +3,7 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api</groupId>
   <artifactId>gax-bom</artifactId>
-  <version>2.18.0</version><!-- {x-version-update:gax-bom:current} -->
+  <version>2.18.1</version><!-- {x-version-update:gax-bom:current} -->
   <packaging>pom</packaging>
   <name>GAX (Google Api eXtensions) for Java</name>
   <description>Google Api eXtensions for Java</description>
@@ -33,34 +33,34 @@
       <dependency>
         <groupId>com.google.api</groupId>
         <artifactId>gax</artifactId>
-        <version>2.18.0</version><!-- {x-version-update:gax:current} -->
+        <version>2.18.1</version><!-- {x-version-update:gax:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api</groupId>
         <artifactId>gax</artifactId>
-        <version>2.18.0</version><!-- {x-version-update:gax:current} -->
+        <version>2.18.1</version><!-- {x-version-update:gax:current} -->
         <classifier>testlib</classifier>
       </dependency>
       <dependency>
         <groupId>com.google.api</groupId>
         <artifactId>gax-grpc</artifactId>
-        <version>2.18.0</version><!-- {x-version-update:gax-grpc:current} -->
+        <version>2.18.1</version><!-- {x-version-update:gax-grpc:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api</groupId>
         <artifactId>gax-grpc</artifactId>
-        <version>2.18.0</version><!-- {x-version-update:gax-grpc:current} -->
+        <version>2.18.1</version><!-- {x-version-update:gax-grpc:current} -->
         <classifier>testlib</classifier>
       </dependency>
       <dependency>
         <groupId>com.google.api</groupId>
         <artifactId>gax-httpjson</artifactId>
-        <version>0.103.0</version><!-- {x-version-update:gax-httpjson:current} -->
+        <version>0.103.1</version><!-- {x-version-update:gax-httpjson:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api</groupId>
         <artifactId>gax-httpjson</artifactId>
-        <version>0.103.0</version><!-- {x-version-update:gax-httpjson:current} -->
+        <version>0.103.1</version><!-- {x-version-update:gax-httpjson:current} -->
         <classifier>testlib</classifier>
       </dependency>
     </dependencies>
diff --git a/gax-grpc/build.gradle b/gax-grpc/build.gradle
index b15d901b2..b198b3373 100644
--- a/gax-grpc/build.gradle
+++ b/gax-grpc/build.gradle
@@ -1,7 +1,7 @@
 archivesBaseName = 'gax-grpc'
 
 // TODO: Populate this from dependencies.properties version property (for proper Gradle-Bazel sync)
-project.version = "2.18.0" // {x-version-update:gax-grpc:current}
+project.version = "2.18.1" // {x-version-update:gax-grpc:current}
 
 dependencies {
   api(project(':gax'),
diff --git a/gax-httpjson/build.gradle b/gax-httpjson/build.gradle
index 4c62ef38c..7bb6d035c 100644
--- a/gax-httpjson/build.gradle
+++ b/gax-httpjson/build.gradle
@@ -1,7 +1,7 @@
 archivesBaseName = 'gax-httpjson'
 
 // TODO: Populate this from dependencies.properties version property (for proper Gradle-Bazel sync)
-project.version = "0.103.0" // {x-version-update:gax-httpjson:current}
+project.version = "0.103.1" // {x-version-update:gax-httpjson:current}
 
 dependencies {
   api(project(':gax'),
diff --git a/gax/build.gradle b/gax/build.gradle
index ce55a2829..834839432 100644
--- a/gax/build.gradle
+++ b/gax/build.gradle
@@ -1,7 +1,7 @@
 archivesBaseName = "gax"
 
 // TODO: Populate this from dependencies.properties version property (for proper Gradle-Bazel sync)
-project.version = "2.18.0" // {x-version-update:gax:current}
+project.version = "2.18.1" // {x-version-update:gax:current}
 
 dependencies {
   api(libraries['maven.com_google_api_api_common'],
diff --git a/versions.txt b/versions.txt
index 3c7613a42..1946cb19e 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,7 +1,7 @@
 # Format:
 # module:released-version:current-version
 
-gax:2.18.0:2.18.0
-gax-bom:2.18.0:2.18.0
-gax-grpc:2.18.0:2.18.0
-gax-httpjson:0.103.0:0.103.0
+gax:2.18.1:2.18.1
+gax-bom:2.18.1:2.18.1
+gax-grpc:2.18.1:2.18.1
+gax-httpjson:0.103.1:0.103.1