diff --git a/.github/ISSUE_TEMPLATE.md b/.github/ISSUE_TEMPLATE.md
index 7bdebc4e00b..7fcef3bf185 100644
--- a/.github/ISSUE_TEMPLATE.md
+++ b/.github/ISSUE_TEMPLATE.md
@@ -25,4 +25,4 @@ If this is a **feature request**, show what you expect to happen if the feature
 
 
 #### Current Version:
-v4.6.2
+v4.7.0
diff --git a/RELEASE-NOTES.txt b/RELEASE-NOTES.txt
index ae95444762e..2eb0d7d834a 100644
--- a/RELEASE-NOTES.txt
+++ b/RELEASE-NOTES.txt
@@ -1,5 +1,24 @@
 Stan Math Library Release Notes
 
+======================================================================
+v4.7.0 (5 September 2023)
+======================================================================
+
+- Improved accuracy of `matrix_exp_multiply`. (#2619)
+- Added framework for vectorising ternary functions (#2642)
+- Added `select()` function for vectorised ternary operations, as well as the `any()` and `all()` boolean reduction functions (#2853)
+- Added a minimum number of iterations (5) to the `grad_2f1` function to avoid early convergence (#2858)
+- Fixed some spelling errors in documentation (#2908)
+- Added new function in `stan::math::internal`, `finite_diff_hessian_vector_product_auto` (#2914)
+- Fixed an issue with the return type of `eigenvalues` being incorrect (#2915)
+- Delete jquery files from vendored Boost documentation (#2916)
+- Fixed fvar/higher-order autodiff compatibility with GLM distributions (#2917)
+- Fixed a type issue in the tests for inv_wishart_cholesky. (#2920)
+- The constraint tolerance can now be adjusted by defining the `STAN_MATH_CONSTRAINT_TOLERANCE` macro before including Stan headers. The default value remains `1E-8`. (#2921)
+- Use -dumpfullversion if available in makefiles (#2922)
+- Vectorised binary signature for `log_sum_exp` (#2930)
+- Added new functions `qr_thin`, `eigendecompose_sym`, `eigendecompose`, `complex_schur_decompose`, `svd`, and `csr_extract`. Each of these is equivalent to calling several existing functions, but should be more efficient due to sharing work. For example, `svd(m)` is equivalent to `(svd_U(m), singular_values(m), svd_V(m))`. (#2931)
+
 ======================================================================
 v4.6.2 (15 May 2023)
 ======================================================================
diff --git a/doxygen/doxygen.cfg b/doxygen/doxygen.cfg
index 4be699ef743..50c46720e6a 100644
--- a/doxygen/doxygen.cfg
+++ b/doxygen/doxygen.cfg
@@ -48,7 +48,7 @@ PROJECT_NAME           = "Stan Math Library"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 4.6.2
+PROJECT_NUMBER         = 4.7.0
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/stan/math/version.hpp b/stan/math/version.hpp
index 3e29ecf8a3c..14e4be47573 100644
--- a/stan/math/version.hpp
+++ b/stan/math/version.hpp
@@ -12,8 +12,8 @@
 #endif
 
 #define STAN_MATH_MAJOR 4
-#define STAN_MATH_MINOR 6
-#define STAN_MATH_PATCH 2
+#define STAN_MATH_MINOR 7
+#define STAN_MATH_PATCH 0
 
 namespace stan {
 namespace math {