diff --git a/_vendor/modules.txt b/_vendor/modules.txt
index 08f39eb36c..124ef7bfdb 100644
--- a/_vendor/modules.txt
+++ b/_vendor/modules.txt
@@ -2,6 +2,6 @@
 # github.com/moby/buildkit v0.23.1
 # github.com/docker/buildx v0.25.0
 # github.com/docker/cli v28.3.0+incompatible
-# github.com/docker/compose/v2 v2.38.1
+# github.com/docker/compose/v2 v2.38.2
 # github.com/docker/model-cli v0.1.33-0.20250703103301-d4e4936a9eb2
 # github.com/docker/scout-cli v1.15.0
diff --git a/content/manuals/compose/releases/release-notes.md b/content/manuals/compose/releases/release-notes.md
index 421beeed21..569b3d4cd9 100644
--- a/content/manuals/compose/releases/release-notes.md
+++ b/content/manuals/compose/releases/release-notes.md
@@ -15,6 +15,23 @@ For more detailed information, see the [release notes in the Compose repo](https
 
 ## 2.38.1
 
+{{< release-date date="2025-07-08" >}}
+
+### Bug fixes and enhancements
+
+- Added `--networks` flag to `config` command to list networks
+- Fixed an issue on `down` command with Docker Model Runner used as a provider service
+- Fixed a display issue on Docker Model Runner progress
+- Fixed an issue with services with profile missing secrets
+
+### Update
+
+- Dependencies upgrade: bump docker engine and cli to v28.3.1
+- Dependencies upgrade: bump buildkit to v0.23.2
+- Dependencies upgrade: bump golang to v1.23.10
+
+## 2.38.1
+
 {{< release-date date="2025-06-30" >}}
 
 ### Bug fixes and enhancements
diff --git a/go.mod b/go.mod
index aa8e1fe6b1..a67a037d7c 100644
--- a/go.mod
+++ b/go.mod
@@ -17,7 +17,7 @@ require (
 	github.com/distribution/reference v0.6.0 // indirect
 	github.com/docker/buildx v0.25.0 // indirect
 	github.com/docker/cli v28.3.0+incompatible // indirect
-	github.com/docker/compose/v2 v2.38.1 // indirect
+	github.com/docker/compose/v2 v2.38.2 // indirect
 	github.com/docker/distribution v2.8.3+incompatible // indirect
 	github.com/docker/docker v28.3.0+incompatible // indirect
 	github.com/docker/docker-credential-helpers v0.9.3 // indirect
diff --git a/hugo.yaml b/hugo.yaml
index 9235e5a6e6..6b5f681090 100644
--- a/hugo.yaml
+++ b/hugo.yaml
@@ -140,7 +140,7 @@ params:
   # (Used to show e.g., "latest" and "latest"-1 in engine install examples
   docker_ce_version_prev: "28.3.0"
   # Latest Docker Compose version
-  compose_version: "v2.38.1"
+  compose_version: "v2.38.2"
   # Latest BuildKit version
   buildkit_version: "0.23.2"