diff --git a/CHANGELOG.md b/CHANGELOG.md
index 005a6060..bcde3f51 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,13 @@
 # Change Log
 
+## [v3.1.0](https://github.com/ably/ably-python/tree/v3.1.0)
+
+[Full Changelog](https://github.com/ably/ably-python/compare/v3.0.0...v3.1.0)
+
+### What's Changed
+
+- Added realtime and rest support for Annotations API [#667](https://github.com/ably/ably-python/pull/667)
+
 ## [v3.0.0](https://github.com/ably/ably-python/tree/v3.0.0)
 
 [Full Changelog](https://github.com/ably/ably-python/compare/v2.1.3...v3.0.0)
diff --git a/ably/__init__.py b/ably/__init__.py
index d5ee1736..076f1ef1 100644
--- a/ably/__init__.py
+++ b/ably/__init__.py
@@ -21,4 +21,4 @@
 logger.addHandler(logging.NullHandler())
 
 api_version = '5'
-lib_version = '3.0.0'
+lib_version = '3.1.0'
diff --git a/pyproject.toml b/pyproject.toml
index 71214b8d..5876852b 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "ably"
-version = "3.0.0"
+version = "3.1.0"
 description = "Python REST and Realtime client library SDK for Ably realtime messaging service"
 readme = "LONG_DESCRIPTION.rst"
 requires-python = ">=3.7"
diff --git a/uv.lock b/uv.lock
index 5b48323d..7ec12c09 100644
--- a/uv.lock
+++ b/uv.lock
@@ -10,7 +10,7 @@ resolution-markers = [
 
 [[package]]
 name = "ably"
-version = "3.0.0"
+version = "3.1.0"
 source = { editable = "." }
 dependencies = [
     { name = "h2", version = "4.1.0", source = { registry = "https://pypi.org/simple" }, marker = "python_full_version < '3.9'" },