US Geological Survey (USGS) National Seismic Hazard Models (NSHMs) are used extensively for seismic design regulations in the United States and earthquake scenario development, as well as risk assessment and mitigation for both buildings and infrastructure. This 2023 update of the long-term, time-independent Alaska NSHM includes substantial changes to both the earthquake rupture forecast (ERF) and ground motion models (GMMs). The ERF includes numerous additions to the finite-fault model, considers two deformation models, and introduces updated declustering and smoothing algorithms in the gridded background seismicity model. For the Alaska–Aleutian subduction zone, megathrust earthquakes occur on an updated structural and segmentation model, and the moment magnitude (M) 8+ rupture and rate model include a logic tree branch that considers slip rates derived from geodetic models of interface coupling. The megathrust model considers multiple models of down-dip width, and magnitudes are computed using newly developed scaling relations. For subduction intraslab events and subduction interface events with M < 7, the 2023 update uses a smoothed seismicity model with rupture depths derived from Slab2. The 2023 model updates GMMs in all tectonic settings using the recently published Next Generation Attenuation Subduction (NGA-Sub) GMMs for subduction interface and intraslab events, and the NGA-West2 GMMs for active crustal settings. Collectively, additions and updates to the Alaska NSHM result in hazard increases across most of south-central Alaska relative to the previous model, published in 2007. These changes are primarily due to the adoption of updated rate models for the large-magnitude interface events and the NGA-Sub GMMs that have much higher aleatory variability (sigma), consistent with global observations, and that include models of epistemic uncertainty.