diff --git a/CHANGELOG.md b/CHANGELOG.md
index 93c068cff9..cca856f11a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,7 @@ Note that the only difference between `v2` and `v3` of the CodeQL Action is the
 ## [UNRELEASED]
 
 - On Linux, the maximum possible value for the `--threads` option now respects the CPU count as specified in `cgroup` files to more accurately reflect the number of available cores when running in containers. 
+- Update default CodeQL bundle version to 2.16.1. [#2096](https://github.com/github/codeql-action/pull/2096)
 
 ## 3.23.1 - 17 Jan 2024
 
diff --git a/lib/defaults.json b/lib/defaults.json
index 28d020bdd7..a395818a14 100644
--- a/lib/defaults.json
+++ b/lib/defaults.json
@@ -1,6 +1,6 @@
 {
-    "bundleVersion": "codeql-bundle-v2.16.0",
-    "cliVersion": "2.16.0",
-    "priorBundleVersion": "codeql-bundle-v2.15.5",
-    "priorCliVersion": "2.15.5"
+    "bundleVersion": "codeql-bundle-v2.16.1",
+    "cliVersion": "2.16.1",
+    "priorBundleVersion": "codeql-bundle-v2.16.0",
+    "priorCliVersion": "2.16.0"
 }
diff --git a/src/defaults.json b/src/defaults.json
index 20438b7a21..ac2c207e10 100644
--- a/src/defaults.json
+++ b/src/defaults.json
@@ -1,6 +1,6 @@
 {
-  "bundleVersion": "codeql-bundle-v2.16.0",
-  "cliVersion": "2.16.0",
-  "priorBundleVersion": "codeql-bundle-v2.15.5",
-  "priorCliVersion": "2.15.5"
+  "bundleVersion": "codeql-bundle-v2.16.1",
+  "cliVersion": "2.16.1",
+  "priorBundleVersion": "codeql-bundle-v2.16.0",
+  "priorCliVersion": "2.16.0"
 }