diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 5dee67b2..6f311d97 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -5,13 +5,16 @@ All notable changes to this project will be documented in this file.
 The format is inspired by `Keep a Changelog <https://keepachangelog.com/en/1.0.0/>`_
 and this project adheres to `Semantic Versioning <https://semver.org/spec/v2.0.0.html>`_.
 
-`v0.12.0`_ - 00-Unreleased-2023
--------------------------------
-
+`v0.11.1`_ - 30-August-2023
+---------------------------
+Fixed
++++++
+- Revert "Add interpolate argument to avoid resolving proxied values." feature
+  due to `#485 <https://github.com/joke2k/django-environ/issues/485>`_.
 
 
 `v0.11.0`_ - 30-August-2023
--------------------------------
+---------------------------
 Added
 +++++
 - Added support for Django 4.2
@@ -377,7 +380,7 @@ Added
 - Initial release.
 
 
-.. _v0.12.0: https://github.com/joke2k/django-environ/compare/v0.10.0...develop
+.. _v0.11.1: https://github.com/joke2k/django-environ/compare/v0.11.0...v0.11.1
 .. _v0.11.0: https://github.com/joke2k/django-environ/compare/v0.10.0...v0.11.0
 .. _v0.10.0: https://github.com/joke2k/django-environ/compare/v0.9.0...v0.10.0
 .. _v0.9.0: https://github.com/joke2k/django-environ/compare/v0.8.1...v0.9.0
diff --git a/docs/tips.rst b/docs/tips.rst
index ab59f691..20b8c3e1 100644
--- a/docs/tips.rst
+++ b/docs/tips.rst
@@ -226,7 +226,7 @@ Proxy value
 ===========
 
 Values that being with a ``$`` may be interpolated. Pass ``interpolate=True`` to
-``environ.Env()`` to enable this feature (``True`` by default):
+``environ.Env()`` to enable this feature:
 
 .. code-block:: python
 
diff --git a/environ/environ.py b/environ/environ.py
index f35470c5..644286e1 100644
--- a/environ/environ.py
+++ b/environ/environ.py
@@ -197,12 +197,11 @@ class Env:
     VAR = re.compile(r'(?<!\\)\$\{?(?P<name>[A-Z_][0-9A-Z_]*)}?',
                      re.IGNORECASE)
 
-    def __init__(self, interpolate=True, **scheme):
+    def __init__(self, **scheme):
         self._local = threading.local()
         self.smart_cast = True
         self.escape_proxy = False
         self.prefix = ""
-        self.interpolate = interpolate
         self.scheme = scheme
 
     def __call__(self, var, cast=None, default=NOTSET, parse_default=False):
@@ -426,8 +425,7 @@ def _get_value(self, var_name, cast=None, default=NOTSET,
             value = default
 
         # Expand variables
-        if self.interpolate and isinstance(value, (bytes, str)) \
-                and var_name not in NOT_EXPANDED:
+        if isinstance(value, (bytes, str)) and var_name not in NOT_EXPANDED:
             def repl(match_):
                 return self.get_value(
                     match_.group('name'), cast=cast, default=default,
diff --git a/tests/test_env.py b/tests/test_env.py
index 1f2df156..0b105f55 100644
--- a/tests/test_env.py
+++ b/tests/test_env.py
@@ -134,10 +134,6 @@ def test_bool_true(self, value, variable):
     def test_proxied_value(self):
         assert self.env('PROXIED_VAR') == 'bar'
 
-    def test_not_interpolated_proxied_value(self):
-        env = Env(interpolate=False)
-        assert env('PROXIED_VAR') == '$STR_VAR'
-
     def test_escaped_dollar_sign(self):
         self.env.escape_proxy = True
         assert self.env('ESCAPED_VAR') == '$baz'