diff --git a/CHANGELOG.md b/CHANGELOG.md
index fcc23780a15..eb95a202958 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,8 @@
 
 ## Unreleased
 
+## Version 1.41.0 (2024-08-09)
+
 ### API
 
 * Move experimental suppress instrumentation context key to api internal package
diff --git a/version.gradle.kts b/version.gradle.kts
index 290a72c8024..91c279ce016 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,7 +1,7 @@
 val snapshot = true
 
 allprojects {
-  var ver = "1.41.0"
+  var ver = "1.42.0"
   val release = findProperty("otel.release")
   if (release != null) {
     ver += "-" + release