diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4d5eda3c22..efe7beeb09 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,19 @@
 
 ## Unreleased
 
+## v0.54.0
+
+This Splunk OpenTelemetry Collector release includes changes from the [opentelemetry-collector v0.54.0](https://github.com/open-telemetry/opentelemetry-collector/releases/tag/v0.54.0) and the [opentelemetry-collector-contrib v0.54.0](https://github.com/open-telemetry/opentelemetry-collector-contrib/releases/tag/v0.54.0) releases.
+
+### 💡 Enhancements 💡
+
+- Only use config server if env var unset (#1728)
+- Update bundled Smart Agent to [v5.21.0](https://github.com/signalfx/signalfx-agent/releases/tag/v5.21.0)
+
+### 🧰 Bug fixes 🧰
+
+- Wrap log messages for windows support bundle (#1725)
+
 ## v0.53.1
 
 ### 🧰 Bug fixes 🧰