diff --git a/homeassistant/components/velbus/__init__.py b/homeassistant/components/velbus/__init__.py
index 0da64227fd3..ecb0636b029 100644
--- a/homeassistant/components/velbus/__init__.py
+++ b/homeassistant/components/velbus/__init__.py
@@ -194,3 +194,21 @@ async def async_remove_entry(hass: HomeAssistant, entry: ConfigEntry) -> None:
         shutil.rmtree,
         hass.config.path(STORAGE_DIR, f"velbuscache-{entry.entry_id}"),
     )
+
+
+async def async_migrate_entry(hass: HomeAssistant, config_entry: ConfigEntry) -> bool:
+    """Migrate old entry."""
+    _LOGGER.debug("Migrating from version %s", config_entry.version)
+    cache_path = hass.config.path(STORAGE_DIR, f"velbuscache-{config_entry.entry_id}/")
+    if config_entry.version == 1:
+        # This is the config entry migration for adding the new program selection
+        # clean the velbusCache
+        if os.path.isdir(cache_path):
+            await hass.async_add_executor_job(shutil.rmtree, cache_path)
+        # set the new version
+        config_entry.version = 2
+        # update the entry
+        hass.config_entries.async_update_entry(config_entry)
+
+    _LOGGER.debug("Migration to version %s successful", config_entry.version)
+    return True
diff --git a/homeassistant/components/velbus/config_flow.py b/homeassistant/components/velbus/config_flow.py
index 32f1f3a500d..e0394e4787c 100644
--- a/homeassistant/components/velbus/config_flow.py
+++ b/homeassistant/components/velbus/config_flow.py
@@ -19,7 +19,7 @@ from .const import DOMAIN
 class VelbusConfigFlow(config_entries.ConfigFlow, domain=DOMAIN):
     """Handle a config flow."""
 
-    VERSION = 1
+    VERSION = 2
 
     def __init__(self) -> None:
         """Initialize the velbus config flow."""
diff --git a/homeassistant/components/velbus/manifest.json b/homeassistant/components/velbus/manifest.json
index 86e67ca7767..9384947cb82 100644
--- a/homeassistant/components/velbus/manifest.json
+++ b/homeassistant/components/velbus/manifest.json
@@ -2,7 +2,7 @@
   "domain": "velbus",
   "name": "Velbus",
   "documentation": "https://www.home-assistant.io/integrations/velbus",
-  "requirements": ["velbus-aio==2022.10.4"],
+  "requirements": ["velbus-aio==2022.12.0"],
   "config_flow": true,
   "codeowners": ["@Cereal2nd", "@brefra"],
   "dependencies": ["usb"],
diff --git a/requirements_all.txt b/requirements_all.txt
index 171d7c36e2e..e46e3728a21 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -2524,7 +2524,7 @@ vallox-websocket-api==3.0.0
 vehicle==0.4.0
 
 # homeassistant.components.velbus
-velbus-aio==2022.10.4
+velbus-aio==2022.12.0
 
 # homeassistant.components.venstar
 venstarcolortouch==0.19
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 8b53e6e8538..a4c0da527a8 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -1764,7 +1764,7 @@ vallox-websocket-api==3.0.0
 vehicle==0.4.0
 
 # homeassistant.components.velbus
-velbus-aio==2022.10.4
+velbus-aio==2022.12.0
 
 # homeassistant.components.venstar
 venstarcolortouch==0.19
diff --git a/tests/components/velbus/conftest.py b/tests/components/velbus/conftest.py
index 62aa0d0b505..c5db7f0ec73 100644
--- a/tests/components/velbus/conftest.py
+++ b/tests/components/velbus/conftest.py
@@ -1,5 +1,6 @@
 """Fixtures for the Velbus tests."""
-from unittest.mock import AsyncMock, patch
+from collections.abc import Generator
+from unittest.mock import MagicMock, patch
 
 import pytest
 
@@ -14,10 +15,9 @@ from tests.common import MockConfigEntry
 
 
 @pytest.fixture(name="controller")
-def mock_controller():
+def mock_controller() -> Generator[MagicMock, None, None]:
     """Mock a successful velbus controller."""
-    controller = AsyncMock()
-    with patch("velbusaio.controller.Velbus", return_value=controller):
+    with patch("homeassistant.components.velbus.Velbus", autospec=True) as controller:
         yield controller
 
 
diff --git a/tests/components/velbus/test_config_flow.py b/tests/components/velbus/test_config_flow.py
index 454290b3581..af11f83adb3 100644
--- a/tests/components/velbus/test_config_flow.py
+++ b/tests/components/velbus/test_config_flow.py
@@ -1,4 +1,5 @@
 """Tests for the Velbus config flow."""
+from collections.abc import Generator
 from unittest.mock import AsyncMock, MagicMock, patch
 
 import pytest
@@ -36,8 +37,18 @@ def com_port():
     return port
 
 
+@pytest.fixture(name="controller")
+def mock_controller() -> Generator[MagicMock, None, None]:
+    """Mock a successful velbus controller."""
+    with patch(
+        "homeassistant.components.velbus.config_flow.velbusaio.controller.Velbus",
+        autospec=True,
+    ) as controller:
+        yield controller
+
+
 @pytest.fixture(autouse=True)
-def override_async_setup_entry() -> AsyncMock:
+def override_async_setup_entry() -> Generator[AsyncMock, None, None]:
     """Override async_setup_entry."""
     with patch(
         "homeassistant.components.velbus.async_setup_entry", return_value=True
@@ -74,6 +85,7 @@ async def test_user(hass: HomeAssistant):
     assert result.get("type") == data_entry_flow.FlowResultType.CREATE_ENTRY
     assert result.get("title") == "velbus_test_serial"
     data = result.get("data")
+    assert data
     assert data[CONF_PORT] == PORT_SERIAL
 
     # try with a ip:port combination
@@ -86,6 +98,7 @@ async def test_user(hass: HomeAssistant):
     assert result.get("type") == data_entry_flow.FlowResultType.CREATE_ENTRY
     assert result.get("title") == "velbus_test_tcp"
     data = result.get("data")
+    assert data
     assert data[CONF_PORT] == PORT_TCP
 
 
diff --git a/tests/components/velbus/test_init.py b/tests/components/velbus/test_init.py
index dee00cce16b..7dfb573901a 100644
--- a/tests/components/velbus/test_init.py
+++ b/tests/components/velbus/test_init.py
@@ -1,11 +1,14 @@
 """Tests for the Velbus component initialisation."""
+from unittest.mock import patch
+
 import pytest
 
 from homeassistant.components.velbus.const import DOMAIN
 from homeassistant.config_entries import ConfigEntry, ConfigEntryState
+from homeassistant.const import CONF_NAME, CONF_PORT
 from homeassistant.core import HomeAssistant
 
-from tests.common import mock_device_registry
+from tests.common import MockConfigEntry, mock_device_registry
 
 
 @pytest.mark.usefixtures("controller")
@@ -15,12 +18,12 @@ async def test_unload_entry(hass: HomeAssistant, config_entry: ConfigEntry):
     await hass.async_block_till_done()
 
     assert len(hass.config_entries.async_entries(DOMAIN)) == 1
-    assert config_entry.state is ConfigEntryState.LOADED
+    assert config_entry.state == ConfigEntryState.LOADED
 
     assert await hass.config_entries.async_unload(config_entry.entry_id)
     await hass.async_block_till_done()
 
-    assert config_entry.state is ConfigEntryState.NOT_LOADED
+    assert config_entry.state == ConfigEntryState.NOT_LOADED
     assert not hass.data.get(DOMAIN)
 
 
@@ -35,22 +38,43 @@ async def test_device_identifier_migration(
     device_registry = mock_device_registry(hass)
     device_registry.async_get_or_create(
         config_entry_id=config_entry.entry_id,
-        identifiers=original_identifiers,
+        identifiers=original_identifiers,  # type: ignore[arg-type]
         name="channel_name",
         manufacturer="Velleman",
         model="module_type_name",
         sw_version="module_sw_version",
     )
-    assert device_registry.async_get_device(original_identifiers)
+    assert device_registry.async_get_device(
+        original_identifiers  # type: ignore[arg-type]
+    )
     assert not device_registry.async_get_device(target_identifiers)
 
     await hass.config_entries.async_setup(config_entry.entry_id)
     await hass.async_block_till_done()
 
-    assert not device_registry.async_get_device(original_identifiers)
+    assert not device_registry.async_get_device(
+        original_identifiers  # type: ignore[arg-type]
+    )
     device_entry = device_registry.async_get_device(target_identifiers)
     assert device_entry
     assert device_entry.name == "channel_name"
     assert device_entry.manufacturer == "Velleman"
     assert device_entry.model == "module_type_name"
     assert device_entry.sw_version == "module_sw_version"
+
+
+@pytest.mark.usefixtures("controller")
+async def test_migrate_config_entry(hass: HomeAssistant) -> None:
+    """Test successful migration of entry data."""
+    legacy_config = {CONF_NAME: "fake_name", CONF_PORT: "1.2.3.4:5678"}
+    entry = MockConfigEntry(domain=DOMAIN, unique_id="my own id", data=legacy_config)
+    entry.add_to_hass(hass)
+
+    assert dict(entry.data) == legacy_config
+    assert entry.version == 1
+
+    # test in case we do not have a cache
+    with patch("os.path.isdir", return_value=True), patch("shutil.rmtree"):
+        await hass.config_entries.async_setup(entry.entry_id)
+        assert dict(entry.data) == legacy_config
+        assert entry.version == 2