diff --git a/CHANGELOG b/CHANGELOG
index 7057ab3..734e78b 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -1,3 +1,18 @@
+v3.0.6
+------
+
+10 May 2024
+
+Patch release to address rust build failure issue.
+
+Fixes:
+  - examples: python: Fix pyserial read timeout
+  - Continue normally on successful command callback on status commands
+  - phy: Enhance package scan logging by printing mark-byte
+  - ci: Exclude cpp sample from all and build explicitly in build-ci
+  - ci: Fix broken release action
+
+
 v3.0.5
 ------
 
diff --git a/CMakeLists.txt b/CMakeLists.txt
index d7dd1cf..2dc32db 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -7,7 +7,7 @@
 cmake_minimum_required(VERSION 3.14 FATAL_ERROR)
 cmake_policy(SET CMP0063 NEW)
 
-project(libosdp VERSION 3.0.5)
+project(libosdp VERSION 3.0.6)
 
 set(PROJECT_AUTHOR       "Siddharth Chandrasekaran")
 set(PROJECT_AUTHOR_EMAIL "sidcha.dev@gmail.com")
diff --git a/python/setup.py b/python/setup.py
index 38b3c00..41b66b0 100644
--- a/python/setup.py
+++ b/python/setup.py
@@ -11,7 +11,7 @@
 import subprocess
 
 project_name = "libosdp"
-project_version = "3.0.5"
+project_version = "3.0.6"
 current_dir = os.path.dirname(os.path.realpath(__file__))
 repo_root = os.path.realpath(os.path.join(current_dir, ".."))