diff --git a/.gitlab-ci.yml b/.gitlab-ci.yml
index 924ee46468fc88b3d8469b94750128be503478db..398e9ebbbbd208d8e9e9c50458db36b81976031a 100644
--- a/.gitlab-ci.yml
+++ b/.gitlab-ci.yml
@@ -52,6 +52,7 @@ stages:
 .opentofu-versions:
   parallel:
     matrix:
+      - OPENTOFU_VERSION: '1.7.1'
       - OPENTOFU_VERSION: '1.7.0'
       - OPENTOFU_VERSION: '1.7.0-alpha1'
       - OPENTOFU_VERSION: '1.6.2'
@@ -63,7 +64,7 @@ variables:
   DOCKER_DIND_IMAGE: "docker:26.1.0-dind"
 
   # OpenTofu variables
-  LATEST_OPENTOFU_VERSION: '1.7.0'
+  LATEST_OPENTOFU_VERSION: '1.7.1'
 
   # OpenTofu image build variables:
   PLATFORMS: linux/amd64,linux/arm64
diff --git a/README.md b/README.md
index 575e4252818fb7f3fa99fd134efae149c82918d9..acb6fdb184cddf00300164594bf19f5dfaee35b0 100644
--- a/README.md
+++ b/README.md
@@ -182,7 +182,7 @@ Have a look at the individual template spec to learn about the available inputs.
 | `stage_deploy` | `deploy` | Defines the deploy stage. This stage includes the `apply` job. |
 | `stage_cleanup` | `cleanup` | Defines the cleanup stage. This stage includes the `destroy` and `delete-state` jobs. |
 | `version` | `latest` | Version of this component. Has to be the same as the one in the component include entry. |
-| `opentofu_version` | `1.7.0` | OpenTofu version that should be used. Must be one of `1.7.0`, `1.7.0-alpha1`, `1.6.2`, `1.6.1`, `1.6.0`. |
+| `opentofu_version` | `1.7.1` | OpenTofu version that should be used. Must be one of `1.7.1`, `1.7.0`, `1.7.0-alpha1`, `1.6.2`, `1.6.1`, `1.6.0`. |
 | `image_registry_base` | `$CI_REGISTRY/components/opentofu` | Host URI to the job images. Will be combined with `image_name` to construct the actual image URI. |
 | `image_name` | `gitlab-opentofu` | Image name for the job images. Hosted under `image_registry_base`. |
 | `root_dir` | `${CI_PROJECT_DIR}` | Root directory for the OpenTofu project. |
@@ -194,6 +194,7 @@ Have a look at the individual template spec to learn about the available inputs.
 
 The following OpenTofu versions are available with this component via the `opentofu_version` input:
 
+- [`1.7.1`](https://github.com/opentofu/opentofu/releases/tag/v1.7.1)
 - [`1.7.0`](https://github.com/opentofu/opentofu/releases/tag/v1.7.0)
 - [`1.7.0-alpha1`](https://github.com/opentofu/opentofu/releases/tag/v1.7.0-alpha1)
 - [`1.6.2`](https://github.com/opentofu/opentofu/releases/tag/v1.6.2)
diff --git a/templates/apply.yml b/templates/apply.yml
index fd3ac478afdaea9d73baf158545eaf42dc09adc9..b4c321f7bea6712d33c937e02a8771ee3456c358 100644
--- a/templates/apply.yml
+++ b/templates/apply.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/custom-command.yml b/templates/custom-command.yml
index 6a6ec53c22c5b14d52192773b7db6a0939207486..f1f9f903bf04c8bd90400138d35312ee4c7d8534 100644
--- a/templates/custom-command.yml
+++ b/templates/custom-command.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/destroy.yml b/templates/destroy.yml
index c21b002a31e6693abafa8260893ef26a247b8dd7..97cb73657121471871e355e5b9828c7c87de67dd 100644
--- a/templates/destroy.yml
+++ b/templates/destroy.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/fmt.yml b/templates/fmt.yml
index a321df0bb50296920d5687ce181800c0854f98c2..57fa7b214440a4186ff35da58c290ec09394251f 100644
--- a/templates/fmt.yml
+++ b/templates/fmt.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/full-pipeline.yml b/templates/full-pipeline.yml
index b8989316b80ce3f39de5bcff32113a6cd740f050..ccc7b46364e39f027785b70f0dd9f0622d1bd3d1 100644
--- a/templates/full-pipeline.yml
+++ b/templates/full-pipeline.yml
@@ -25,9 +25,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/job-templates.yml b/templates/job-templates.yml
index df48d1be54d99dc19c2afc4df634a5faa5baf3a8..e6a0fe8ce97e4372c60d9db75ab1e235f563307b 100644
--- a/templates/job-templates.yml
+++ b/templates/job-templates.yml
@@ -25,9 +25,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/plan.yml b/templates/plan.yml
index 4a595449f4d5d61b8ed10b0cfa0026d5862afa5e..7441ebddd57b6037a1ecdf0860119b0a610d3e98 100644
--- a/templates/plan.yml
+++ b/templates/plan.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/test.yml b/templates/test.yml
index 5de8c520aca363d9a83b36cbc8c67433b6910c11..29767e4b2c2b61b1a6325ccb89e1114a849a18f1 100644
--- a/templates/test.yml
+++ b/templates/test.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/validate-plan-apply.yml b/templates/validate-plan-apply.yml
index 7b8c8eca5c5d79e1a01dd39c9d6497549c02529d..5d670f5a4e3fe9dbef9fae153a692730faa82b2f 100644
--- a/templates/validate-plan-apply.yml
+++ b/templates/validate-plan-apply.yml
@@ -19,9 +19,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/validate-plan.yml b/templates/validate-plan.yml
index 9506905e032079b660b9aa86abef3a1b967c133d..2bd9f334a125248f47eb469d745da37c78967376 100644
--- a/templates/validate-plan.yml
+++ b/templates/validate-plan.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'
diff --git a/templates/validate.yml b/templates/validate.yml
index 774971e06f38f66841b24483e49cd6ce023f1394..2b1b407e3efbe2c93072d677a0c4e67d6c9d281d 100644
--- a/templates/validate.yml
+++ b/templates/validate.yml
@@ -16,9 +16,10 @@ spec:
       description: 'Version of this component. Has to be the same as the one in the component include entry.'
 
     opentofu_version:
-      default: '1.7.0'
+      default: '1.7.1'
       options:
         - '$OPENTOFU_VERSION'
+        - '1.7.1'
         - '1.7.0'
         - '1.7.0-alpha1'
         - '1.6.2'