diff --git a/CHANGELOG.md b/CHANGELOG.md
index a1e739decd..7713c136fa 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,20 @@ that were not yet released.
 
 <!-- released start -->
 
+## 0.38.0
+
+Released on 2024-08-01.
+
+* Fix `rye add` and `rye remove` to create proper `tool.rye` section for `--dev` and `--exclude` flags by @flyaroundme in https://github.com/astral-sh/rye/pull/1256
+* Fix `uninstall_cmd` on Windows by @250h in https://github.com/astral-sh/rye/pull/1153
+* Make rye run print script list to stdout by @mitsuhiko in https://github.com/astral-sh/rye/pull/1268
+* Always write `--index-url` before `--extra-index-url` by @charliermarsh in https://github.com/astral-sh/rye/pull/1278
+* Use case-insensitive comparison for detecting `rye.exe` by @charliermarsh in https://github.com/astral-sh/rye/pull/1286
+* Update Python releases to include stripped variants by @github-actions in https://github.com/astral-sh/rye/pull/1280
+* Fix documentation for readline license by @3w36zj6 in https://github.com/astral-sh/rye/pull/1297
+* Update bundled uv version to `v0.2.33` by @github-actions in https://github.com/astral-sh/rye/pull/1303
+* Update bundled pip to `v24.2.0` by @charliermarsh in https://github.com/astral-sh/rye/pull/1304
+
 ## 0.37.0
 
 Released on 2024-07-20.
diff --git a/Cargo.lock b/Cargo.lock
index b2a4a7d789..942403ca97 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1799,7 +1799,7 @@ dependencies = [
 
 [[package]]
 name = "rye"
-version = "0.37.0"
+version = "0.38.0"
 dependencies = [
  "age",
  "anyhow",
diff --git a/rye/Cargo.toml b/rye/Cargo.toml
index 2194a97456..8b697f3853 100644
--- a/rye/Cargo.toml
+++ b/rye/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "rye"
-version = "0.37.0"
+version = "0.38.0"
 edition = "2021"
 license = "MIT"