diff --git a/charts/opensearch/CHANGELOG.md b/charts/opensearch/CHANGELOG.md
index 3d565e41..40c1c7a5 100644
--- a/charts/opensearch/CHANGELOG.md
+++ b/charts/opensearch/CHANGELOG.md
@@ -12,6 +12,15 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 ### Fixed
 ### Security
 ---
+## [1.23.1]
+### Added
+### Changed
+### Deprecated
+### Removed
+### Fixed
+- Fixed missing lifecycle parameter in README for opensearch chart
+### Security
+---
 ## [1.23.0]
 ### Added
 ### Changed
diff --git a/charts/opensearch/Chart.yaml b/charts/opensearch/Chart.yaml
index a16b75a5..6c901bfd 100644
--- a/charts/opensearch/Chart.yaml
+++ b/charts/opensearch/Chart.yaml
@@ -15,7 +15,7 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 1.23.0
+version: 1.23.1
 
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
diff --git a/charts/opensearch/README.md b/charts/opensearch/README.md
index 1914ba8f..f30eac6f 100644
--- a/charts/opensearch/README.md
+++ b/charts/opensearch/README.md
@@ -120,6 +120,7 @@ helm uninstall my-release
 | `plugins.enabled`                     | Allow/disallow to add 3rd Party / Custom plugins not offered in the default OpenSearchDashboards image                    | false  |
 | `plugins.installList`                 | Array containing the Opensearch Dashboards plugins to be installed in container	                                        |   []   |
 | `opensearchLifecycle`              | Allows you to configure lifecycle hooks for the OpenSearch container in the StatefulSet                                                                                                                                                                   | {}                                              |
+| `lifecycle`                        | Allows you to configure lifecycle hooks for the OpenSearch container in the StatefulSet                                                                                                                                                                   | {}                                              |
 | `openSearchAnnotations`               | Allows you to configure custom annotation in the StatefullSet of the OpenSearch container    | {} |