diff --git a/CHANGELOG.md b/CHANGELOG.md
index 735b8e70..176b1372 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,16 @@
 # Optimizely Python SDK Changelog
 
+## 3.4.0
+January 27th, 2020
+
+### New Features:
+* Added a new API to get project configuration static data.
+  * Call `get_optimizely_config()` to get a snapshot of project configuration static data.
+  * It returns an `OptimizelyConfig` instance which includes a datafile revision number, all experiments, and feature flags mapped by their key values.
+  * Added caching for `get_optimizely_config()` - `OptimizelyConfig` object will be cached and reused for the lifetime of the datafile.
+  * For details, refer to our documentation page: [https://docs.developers.optimizely.com/full-stack/docs/optimizelyconfig-python](https://docs.developers.optimizely.com/full-stack/docs/optimizelyconfig-python).
+
+
 ## 3.3.1
 December 16th, 2019
 
diff --git a/optimizely/version.py b/optimizely/version.py
index 9acac36b..be7ee3cc 100644
--- a/optimizely/version.py
+++ b/optimizely/version.py
@@ -1,4 +1,4 @@
-# Copyright 2016-2019, Optimizely
+# Copyright 2016-2020, Optimizely
 # Licensed under the Apache License, Version 2.0 (the "License");
 # you may not use this file except in compliance with the License.
 # You may obtain a copy of the License at
@@ -11,5 +11,5 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-version_info = (3, 3, 1)
+version_info = (3, 4, 0)
 __version__ = '.'.join(str(v) for v in version_info)