diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0a03c0104b..2a182032b8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,26 @@
 # Changelog
 
+## 1.12.0
+
+### Basic OTel support
+
+This adds support to automatically integrate OpenTelemetry performance tracing with Sentry.
+
+See the documentation on how to set it up:
+https://docs.sentry.io/platforms/python/performance/instrumentation/opentelemetry/
+
+Give it a try and let us know if you have any feedback or problems with using it.
+
+By: @antonpirker (#1772, #1766, #1765)
+
+### Various fixes & improvements
+
+- Tox Cleanup (#1749) by @antonpirker
+- CI: Fix Github action checks (#1780) by @Zylphrex
+- Profiling: Introduce active thread id on scope (#1764) by @Zylphrex
+- Profiling: Eagerly hash stack for profiles (#1755) by @Zylphrex
+- Profiling: Resolve inherited method class names (#1756) by @Zylphrex
+
 ## 1.11.1
 
 ### Various fixes & improvements
diff --git a/docs/conf.py b/docs/conf.py
index 0d60cb6656..93eb542d59 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -29,7 +29,7 @@
 copyright = "2019, Sentry Team and Contributors"
 author = "Sentry Team and Contributors"
 
-release = "1.11.1"
+release = "1.12.0"
 version = ".".join(release.split(".")[:2])  # The short X.Y version.
 
 
diff --git a/sentry_sdk/consts.py b/sentry_sdk/consts.py
index 47d630dee3..9b76cd9072 100644
--- a/sentry_sdk/consts.py
+++ b/sentry_sdk/consts.py
@@ -136,4 +136,4 @@ def _get_default_options():
 del _get_default_options
 
 
-VERSION = "1.11.1"
+VERSION = "1.12.0"
diff --git a/setup.py b/setup.py
index 318c9dc837..6eed498332 100644
--- a/setup.py
+++ b/setup.py
@@ -21,7 +21,7 @@ def get_file_text(file_name):
 
 setup(
     name="sentry-sdk",
-    version="1.11.1",
+    version="1.12.0",
     author="Sentry Team and Contributors",
     author_email="hello@sentry.io",
     url="https://github.com/getsentry/sentry-python",