diff --git a/CHANGELOG.md b/CHANGELOG.md
index 75b4960eb..4b2cd84dd 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,15 @@
+# 5.4.0 (2020-11-21)
+
+Features:
+- Add `pip>=20.3` support
+([1216](https://github.com/jazzband/pip-tools/pull/1216)). Thanks @atugushev and @AndydeCleyre
+- Exclude `--no-reuse-hashes` option from «command to run» header
+([1197](https://github.com/jazzband/pip-tools/pull/1197)). Thanks @graingert
+
+Dependencies:
+- Bump `pip` minimum version to `>= 20.1`
+([1191](https://github.com/jazzband/pip-tools/pull/1191)). Thanks @atugushev and @AndydeCleyre
+
 # 5.3.1 (2020-07-31)
 
 Bug Fixes: