diff --git a/.chloggen/upgrade_tempo_to_v2.3.0.yaml b/.chloggen/upgrade_tempo_to_v2.3.0.yaml
new file mode 100755
index 000000000..9758df194
--- /dev/null
+++ b/.chloggen/upgrade_tempo_to_v2.3.0.yaml
@@ -0,0 +1,16 @@
+# One of 'breaking', 'deprecation', 'new_component', 'enhancement', 'bug_fix'
+change_type: enhancement
+
+# The name of the component, or a single word describing the area of concern, (e.g. operator, github action)
+component: operator
+
+# A brief description of the change. Surround your text with quotes ("") if it needs to start with a backtick (`).
+note: Upgrade tempo to v2.3.0
+
+# One or more tracking issues related to the change
+issues: [688]
+
+# (Optional) One or more lines of additional information to render under the primary note.
+# These lines will be padded with 2 spaces and then inserted directly into the document.
+# Use pipe (|) for multiline entries.
+subtext:
diff --git a/bundle/community/manifests/tempo-operator.clusterserviceversion.yaml b/bundle/community/manifests/tempo-operator.clusterserviceversion.yaml
index 21f58f124..2df39cf6b 100644
--- a/bundle/community/manifests/tempo-operator.clusterserviceversion.yaml
+++ b/bundle/community/manifests/tempo-operator.clusterserviceversion.yaml
@@ -774,9 +774,9 @@ spec:
                 - --config=controller_manager_config.yaml
                 env:
                 - name: RELATED_IMAGE_TEMPO
-                  value: docker.io/grafana/tempo:2.2.3
+                  value: docker.io/grafana/tempo:2.3.0
                 - name: RELATED_IMAGE_TEMPO_QUERY
-                  value: docker.io/grafana/tempo-query:main-2e5e27a
+                  value: docker.io/grafana/tempo-query:2.3.0
                 - name: RELATED_IMAGE_TEMPO_GATEWAY
                   value: quay.io/observatorium/api:main-2023-11-07-1f40fe4
                 - name: RELATED_IMAGE_TEMPO_GATEWAY_OPA
@@ -918,9 +918,9 @@ spec:
   provider:
     name: Grafana Tempo Operator SIG
   relatedImages:
-  - image: docker.io/grafana/tempo:2.2.3
+  - image: docker.io/grafana/tempo:2.3.0
     name: tempo
-  - image: docker.io/grafana/tempo-query:main-2e5e27a
+  - image: docker.io/grafana/tempo-query:2.3.0
     name: tempo-query
   - image: quay.io/observatorium/api:main-2023-11-07-1f40fe4
     name: tempo-gateway
diff --git a/bundle/openshift/manifests/tempo-operator.clusterserviceversion.yaml b/bundle/openshift/manifests/tempo-operator.clusterserviceversion.yaml
index db620548b..69102194c 100644
--- a/bundle/openshift/manifests/tempo-operator.clusterserviceversion.yaml
+++ b/bundle/openshift/manifests/tempo-operator.clusterserviceversion.yaml
@@ -774,9 +774,9 @@ spec:
                 - --config=controller_manager_config.yaml
                 env:
                 - name: RELATED_IMAGE_TEMPO
-                  value: docker.io/grafana/tempo:2.2.3
+                  value: docker.io/grafana/tempo:2.3.0
                 - name: RELATED_IMAGE_TEMPO_QUERY
-                  value: docker.io/grafana/tempo-query:main-2e5e27a
+                  value: docker.io/grafana/tempo-query:2.3.0
                 - name: RELATED_IMAGE_TEMPO_GATEWAY
                   value: quay.io/observatorium/api:main-2023-11-07-1f40fe4
                 - name: RELATED_IMAGE_TEMPO_GATEWAY_OPA
@@ -929,9 +929,9 @@ spec:
   provider:
     name: Grafana Tempo Operator SIG
   relatedImages:
-  - image: docker.io/grafana/tempo:2.2.3
+  - image: docker.io/grafana/tempo:2.3.0
     name: tempo
-  - image: docker.io/grafana/tempo-query:main-2e5e27a
+  - image: docker.io/grafana/tempo-query:2.3.0
     name: tempo-query
   - image: quay.io/observatorium/api:main-2023-11-07-1f40fe4
     name: tempo-gateway
diff --git a/config/manager/manager.yaml b/config/manager/manager.yaml
index 105e39a3d..9a0b67487 100644
--- a/config/manager/manager.yaml
+++ b/config/manager/manager.yaml
@@ -40,9 +40,9 @@ spec:
         - --leader-elect
         env:
         - name: RELATED_IMAGE_TEMPO
-          value: docker.io/grafana/tempo:2.2.3
+          value: docker.io/grafana/tempo:2.3.0
         - name: RELATED_IMAGE_TEMPO_QUERY
-          value: docker.io/grafana/tempo-query:main-2e5e27a
+          value: docker.io/grafana/tempo-query:2.3.0
         - name: RELATED_IMAGE_TEMPO_GATEWAY
           value: quay.io/observatorium/api:main-2023-11-07-1f40fe4
         - name: RELATED_IMAGE_TEMPO_GATEWAY_OPA