diff --git a/datadog_lambda/version.py b/datadog_lambda/version.py
index 05a11f2b..2e2e781a 100644
--- a/datadog_lambda/version.py
+++ b/datadog_lambda/version.py
@@ -1 +1 @@
-__version__ = "8.116.0.dev0"
+__version__ = "8.116.0"
diff --git a/pyproject.toml b/pyproject.toml
index 02939748..cf7d1805 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "datadog_lambda"
-version = "8.116.0.dev0"
+version = "8.116.0"
 description = "The Datadog AWS Lambda Library"
 authors = ["Datadog, Inc. <dev@datadoghq.com>"]
 license = "Apache-2.0"
@@ -28,7 +28,7 @@ classifiers = [
 python = ">=3.8.0,<4"
 datadog = ">=0.51.0,<1.0.0"
 wrapt = "^1.11.2"
-ddtrace = ">=3.11.0,<4"
+ddtrace = ">=3.16.2,<4"
 ujson = ">=5.9.0"
 botocore = { version = "^1.34.0", optional = true }
 requests = { version ="^2.22.0", optional = true }