diff --git a/ChangeLog.md b/ChangeLog.md
index 47ea4993dced6..625ce4639b6d4 100644
--- a/ChangeLog.md
+++ b/ChangeLog.md
@@ -18,8 +18,11 @@ to browse the changes between the tags.
 
 See docs/process.md for more on how version tagging works.
 
-4.0.20 (in development)
+4.0.21 (in development)
 -----------------------
+
+4.0.20 - 11/18/25
+-----------------
 - Linker flags specified on the command line are now passed to `wasm-ld` after
   the internal emscripten linker flags.  This means that users can now override
   emscripten defaults with things `-Wl,--stack-first`. (#25803)
diff --git a/emscripten-version.txt b/emscripten-version.txt
index 893e21405c58c..1740de30f4bd8 100644
--- a/emscripten-version.txt
+++ b/emscripten-version.txt
@@ -1 +1 @@
-4.0.20-git
+4.0.21-git