diff --git a/Formula/pypy.rb b/Formula/pypy.rb
index d711326c8b..68a0b6eb97 100644
--- a/Formula/pypy.rb
+++ b/Formula/pypy.rb
@@ -2,9 +2,9 @@ require 'formula'
 
 class Pypy < Formula
   homepage 'http://pypy.org/'
-  url 'https://bitbucket.org/pypy/pypy/downloads/pypy-2.3-osx64.tar.bz2'
-  version '2.3.0'
-  sha1 'b40c3c56138725757ef0f97ffb67dce89b7665f0'
+  url 'https://bitbucket.org/pypy/pypy/downloads/pypy-2.3.1-osx64.tar.bz2'
+  version '2.3.1'
+  sha1 '4d9cdf801e4c8fb432b17be0edf76eb3d9360f40'
 
   depends_on :arch => :x86_64