diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3488834..72ae915 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,7 +4,7 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.1.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [dev] (MM/DD/YYYY)
+## [0.3.1] - 2025-12-02
 
 ### Added
 * Enabled support of Python 3.14 [gh-119](https://github.com/IntelPython/mkl_umath/pull/119)
diff --git a/conda-recipe-cf/meta.yaml b/conda-recipe-cf/meta.yaml
index f661db4..80308b2 100644
--- a/conda-recipe-cf/meta.yaml
+++ b/conda-recipe-cf/meta.yaml
@@ -1,4 +1,4 @@
-{% set version = "0.3.0" %}
+{% set version = "0.3.1" %}
 {% set buildnumber = 0 %}
 
 package:
diff --git a/mkl_umath/_version.py b/mkl_umath/_version.py
index 0404d81..e1424ed 100644
--- a/mkl_umath/_version.py
+++ b/mkl_umath/_version.py
@@ -1 +1 @@
-__version__ = '0.3.0'
+__version__ = '0.3.1'