diff --git a/CHANGELOG.md b/CHANGELOG.md
index 09489cc..c71832b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,4 +6,11 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
-[Unreleased]: https://github.com/MetaMask/create-release-branch/
+## [1.0.0]
+### Added
+- Initial release
+  - In this first release, this tool only supports monorepos with an independent versioning scheme. We will add support for other kinds of projects in future releases.
+  - You can learn more on how to use this tool by reading the [documentation](docs/).
+
+[Unreleased]: https://github.com/MetaMask/create-release-branch/compare/v1.0.0...HEAD
+[1.0.0]: https://github.com/MetaMask/create-release-branch/releases/tag/v1.0.0
diff --git a/package.json b/package.json
index dc9a327..bb9b1d9 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@metamask/create-release-branch",
-  "version": "0.0.0",
+  "version": "1.0.0",
   "description": "An interactive command-line tool to prepare a release branch by automatically bumping versions and updating changelogs for desired packages. Works for both polyrepos and monorepos.",
   "repository": {
     "type": "git",