diff --git a/pkgs/development/python-modules/optax/default.nix b/pkgs/development/python-modules/optax/default.nix
index 6a3b6a9d3e67..8e34a4b2e036 100644
--- a/pkgs/development/python-modules/optax/default.nix
+++ b/pkgs/development/python-modules/optax/default.nix
@@ -7,19 +7,19 @@
 , lib
 , numpy
 , pytestCheckHook
+, tensorflow
+, tensorflow-datasets
 }:
 
 buildPythonPackage rec {
   pname = "optax";
-  # As of 2022-01-06, the latest stable version (0.1.0) has broken tests that are fixed
-  # in https://github.com/deepmind/optax/commit/d6633365d84eb6f2c0df0c52b630481a349ce562
-  version = "unstable-2022-01-05";
+  version = "0.1.1";
 
   src = fetchFromGitHub {
     owner = "deepmind";
     repo = pname;
-    rev = "5ec5541b3486224b22e950480ff639ceaf5098f7";
-    sha256 = "1q8cxc42a5xais2ll1l238cnn3l7w28savhgiz0lg01ilz2ysbli";
+    rev = "v${version}";
+    hash = "sha256-s/BcqzhdfWzR61MStusUPQtuT4+t8NcC5gBGiGggFqw=";
   };
 
   buildInputs = [ jaxlib ];
@@ -33,6 +33,8 @@ buildPythonPackage rec {
   checkInputs = [
     dm-haiku
     pytestCheckHook
+    tensorflow
+    tensorflow-datasets
   ];
 
   pythonImportsCheck = [
@@ -42,8 +44,7 @@ buildPythonPackage rec {
   disabledTestPaths = [
     # Requires `flax` which depends on `optax` creating circular dependency.
     "optax/_src/equivalence_test.py"
-    # Require `tensorflow_datasets` which isn't packaged in `nixpkgs`.
-    "examples/datasets_test.py"
+    # See https://github.com/deepmind/optax/issues/323.
     "examples/lookahead_mnist_test.py"
   ];