diff --git a/rclpy/CHANGELOG.rst b/rclpy/CHANGELOG.rst
index e489e76ec..7692bbbb7 100644
--- a/rclpy/CHANGELOG.rst
+++ b/rclpy/CHANGELOG.rst
@@ -2,8 +2,8 @@
 Changelog for package rclpy
 ^^^^^^^^^^^^^^^^^^^^^^^^^^^
 
-Forthcoming
------------
+7.5.0 (2024-07-29)
+------------------
 * Add types to task.py (`#1254 <https://github.com/ros2/rclpy/issues/1254>`_)
 * Fix a bad bug in fetching the lifecycle transitions. (`#1321 <https://github.com/ros2/rclpy/issues/1321>`_)
 * Fix a bug when using multiple rclpy.init context managers. (`#1314 <https://github.com/ros2/rclpy/issues/1314>`_)
diff --git a/rclpy/package.xml b/rclpy/package.xml
index 3d608f1a1..aad3a2431 100644
--- a/rclpy/package.xml
+++ b/rclpy/package.xml
@@ -2,7 +2,7 @@
 <?xml-model href="http://download.ros.org/schema/package_format2.xsd" schematypens="http://www.w3.org/2001/XMLSchema"?>
 <package format="2">
   <name>rclpy</name>
-  <version>7.4.0</version>
+  <version>7.5.0</version>
   <description>Package containing the Python client.</description>
 
   <maintainer email="sloretz@openrobotics.org">Shane Loretz</maintainer>