diff --git a/CHANGELOG.md b/CHANGELOG.md
index 534c65698..f80988916 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,16 @@
 
 All notable changes to this project are documented in this file.
 
+## 1.7.3
+
+**Release date:** 2025-10-28
+
+This patch release fixes support for SOCKS5 proxy in the controller APIs.
+
+Fixes:
+- Restore SOCKS5 proxy support
+  [#1916](https://github.com/fluxcd/source-controller/pull/1916)
+
 ## 1.7.2
 
 **Release date:** 2025-10-08
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index 87d8d9029..d7f145ec3 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -6,4 +6,4 @@ resources:
 images:
 - name: fluxcd/source-controller
   newName: fluxcd/source-controller
-  newTag: v1.7.2
+  newTag: v1.7.3
diff --git a/go.mod b/go.mod
index dfbf630c2..d8bb8cff3 100644
--- a/go.mod
+++ b/go.mod
@@ -40,7 +40,7 @@ require (
 	github.com/fluxcd/pkg/tar v0.15.0
 	github.com/fluxcd/pkg/testserver v0.13.0
 	github.com/fluxcd/pkg/version v0.11.0
-	github.com/fluxcd/source-controller/api v1.7.2
+	github.com/fluxcd/source-controller/api v1.7.3
 	github.com/foxcpp/go-mockdns v1.1.0
 	github.com/go-git/go-billy/v5 v5.6.2
 	github.com/go-git/go-git/v5 v5.16.3