diff --git a/Lib/ensurepip/__init__.py b/Lib/ensurepip/__init__.py
index c5350df270487a..df0685b1989681 100644
--- a/Lib/ensurepip/__init__.py
+++ b/Lib/ensurepip/__init__.py
@@ -10,7 +10,7 @@
 
 
 __all__ = ["version", "bootstrap"]
-_PIP_VERSION = "24.2"
+_PIP_VERSION = "24.3.1"
 
 # Directory of system wheel packages. Some Linux distribution packaging
 # policies recommend against bundling dependencies. For example, Fedora
diff --git a/Lib/ensurepip/_bundled/pip-24.2-py3-none-any.whl b/Lib/ensurepip/_bundled/pip-24.3.1-py3-none-any.whl
similarity index 84%
rename from Lib/ensurepip/_bundled/pip-24.2-py3-none-any.whl
rename to Lib/ensurepip/_bundled/pip-24.3.1-py3-none-any.whl
index 542cdd1e7284ae..5f1d35be6dd56b 100644
Binary files a/Lib/ensurepip/_bundled/pip-24.2-py3-none-any.whl and b/Lib/ensurepip/_bundled/pip-24.3.1-py3-none-any.whl differ
diff --git a/Misc/NEWS.d/next/Library/2024-11-13-20-03-18.gh-issue-126188.RJLKk-.rst b/Misc/NEWS.d/next/Library/2024-11-13-20-03-18.gh-issue-126188.RJLKk-.rst
new file mode 100644
index 00000000000000..bb13662e6ae62c
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2024-11-13-20-03-18.gh-issue-126188.RJLKk-.rst
@@ -0,0 +1 @@
+Update bundled pip to 24.3.1