diff --git a/Rakefile b/Rakefile
index c6ec1fe447edb..47003c5857ec8 100644
--- a/Rakefile
+++ b/Rakefile
@@ -55,7 +55,7 @@ def release_version
 end
 
 def version
-  "#{release_version}.0"
+  "#{release_version}.1"
 end
 
 # The build system used by webdriver is layered on top of rake, and we call it
diff --git a/java/CHANGELOG b/java/CHANGELOG
index e26566257cebc..d10bc0c7c1289 100644
--- a/java/CHANGELOG
+++ b/java/CHANGELOG
@@ -1,3 +1,11 @@
+v4.7.1
+======
+* Supported CDP versions: 85, 106, 107, 108
+* Add close method to JDK 11 client. Ensure close methods for Http client is called. (#11345)
+* Don’t specify content length when pulling images (#11343)
+* Allow arguments to be passed in Node flag "driver-configuration" (#11367)
+* Ensure all states of StartOrDie are handled (#11297)
+
 v4.7.0
 ======
 * Supported CDP versions: 85, 106, 107, 108
diff --git a/java/version.bzl b/java/version.bzl
index b42352afc8d50..da09571246e76 100644
--- a/java/version.bzl
+++ b/java/version.bzl
@@ -1 +1 @@
-SE_VERSION = "4.7.0"
+SE_VERSION = "4.7.1"