diff --git a/Lib/ensurepip/__init__.py b/Lib/ensurepip/__init__.py
index 81db9fa922d049..16d222c6765955 100644
--- a/Lib/ensurepip/__init__.py
+++ b/Lib/ensurepip/__init__.py
@@ -11,7 +11,7 @@
 __all__ = ["version", "bootstrap"]
 _PACKAGE_NAMES = ('setuptools', 'pip')
 _SETUPTOOLS_VERSION = "65.5.0"
-_PIP_VERSION = "23.2.1"
+_PIP_VERSION = "23.3.2"
 _PROJECTS = [
     ("setuptools", _SETUPTOOLS_VERSION, "py3"),
     ("pip", _PIP_VERSION, "py3"),
diff --git a/Lib/ensurepip/_bundled/pip-23.2.1-py3-none-any.whl b/Lib/ensurepip/_bundled/pip-23.3.2-py3-none-any.whl
similarity index 79%
rename from Lib/ensurepip/_bundled/pip-23.2.1-py3-none-any.whl
rename to Lib/ensurepip/_bundled/pip-23.3.2-py3-none-any.whl
index ba28ef02e265f0..ae78b8a6ce0737 100644
Binary files a/Lib/ensurepip/_bundled/pip-23.2.1-py3-none-any.whl and b/Lib/ensurepip/_bundled/pip-23.3.2-py3-none-any.whl differ
diff --git a/Misc/NEWS.d/next/Library/2023-12-18-09-47-54.gh-issue-113246.em930H.rst b/Misc/NEWS.d/next/Library/2023-12-18-09-47-54.gh-issue-113246.em930H.rst
new file mode 100644
index 00000000000000..167bb37c0e0643
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2023-12-18-09-47-54.gh-issue-113246.em930H.rst
@@ -0,0 +1 @@
+Update bundled pip to 23.3.2.