diff --git a/CHANGELOG.md b/CHANGELOG.md
index b6b106de..99fef7ff 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,10 @@
 # Audited ChangeLog
 
+## 5.4.0 (2023-09-30)
+
+- Add Rails 7.1 support - @yuki24
+  [#686](https://github.com/collectiveidea/audited/pull/686)
+
 ## 5.3.3 (2023-03-24)
 
 - Use RequestStore instead of Thread.current for thread-safe requests - @tiagocassio
diff --git a/lib/audited/version.rb b/lib/audited/version.rb
index 1280d36f..f3f258ee 100644
--- a/lib/audited/version.rb
+++ b/lib/audited/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module Audited
-  VERSION = "5.3.3"
+  VERSION = "5.4.0"
 end