diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 58ccf53dbb4b..0b78d091d845 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "2.117.1"
+  ".": "2.118.0"
 }
\ No newline at end of file
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 18b72998ac51..6270da69939f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,18 @@
 # Changelog
 
+## [2.118.0](https://github.com/Flagsmith/flagsmith/compare/v2.117.1...v2.118.0) (2024-05-31)
+
+
+### Features
+
+* add audit log when environment feature version is published ([#4064](https://github.com/Flagsmith/flagsmith/issues/4064)) ([88cfc76](https://github.com/Flagsmith/flagsmith/commit/88cfc762f201967f5a4a2b362eecae444b1a2b19))
+
+
+### Bug Fixes
+
+* don't create audit log for FeatureStateValue when not published ([#4065](https://github.com/Flagsmith/flagsmith/issues/4065)) ([8b73b5c](https://github.com/Flagsmith/flagsmith/commit/8b73b5c5bb4336d5fe5947e3fe3004736c942ae2))
+* versioned remove segment override ([#4063](https://github.com/Flagsmith/flagsmith/issues/4063)) ([e4cd25a](https://github.com/Flagsmith/flagsmith/commit/e4cd25ae9d79c66447377bb087061193a6264eff))
+
 ## [2.117.1](https://github.com/Flagsmith/flagsmith/compare/v2.117.0...v2.117.1) (2024-05-30)
 
 
diff --git a/version.txt b/version.txt
index 4300acfcc2ea..759c8b720164 100644
--- a/version.txt
+++ b/version.txt
@@ -1 +1 @@
-2.117.1
+2.118.0