diff --git a/images/ovn/Dockerfile b/images/ovn/Dockerfile
index d628380..cf854e2 100644
--- a/images/ovn/Dockerfile
+++ b/images/ovn/Dockerfile
@@ -17,7 +17,7 @@
 ARG TARGETPLATFORM
 ADD --chmod=755 https://dl.k8s.io/release/v1.29.3/bin/${TARGETPLATFORM}/kubectl /usr/local/bin/kubectl
 ARG OVN_SERIES=24.03
-ARG OVN_VERSION=${OVN_SERIES}.1-44
+ARG OVN_VERSION=${OVN_SERIES}.2-34
 RUN <<EOF sh -xe
 dnf -y --setopt=install_weak_deps=False --setopt=tsflags=nodocs install \
     firewalld-filesystem hostname ovn${OVN_SERIES}-${OVN_VERSION}.el9s procps-ng
diff --git a/releasenotes/notes/bump-ovn-version-d4216ca44d5e6f41.yaml b/releasenotes/notes/bump-ovn-version-d4216ca44d5e6f41.yaml
new file mode 100644
index 0000000..6988615
--- /dev/null
+++ b/releasenotes/notes/bump-ovn-version-d4216ca44d5e6f41.yaml
@@ -0,0 +1,4 @@
+---
+upgrade:
+  - |
+    Bump OVN from 24.03.1-44 to 24.03.2.34.