diff --git a/sdk/RELEASE.md b/sdk/RELEASE.md
index ba70b7bde0..a8defdde12 100644
--- a/sdk/RELEASE.md
+++ b/sdk/RELEASE.md
@@ -12,8 +12,34 @@
 
 ## Bug Fixes and Other Changes
 
+## Documentation Updates
+
+# 1.8.0
+
+## Major Features and Improvements
+
+* Add "--detail" option to kfp run get. [\#6404](https://github.com/kubeflow/pipelines/pull/6404)
+* Support `set_display_name` in v2. [\#6471](https://github.com/kubeflow/pipelines/issues/6471)
+
+## Breaking Changes
+
+* Revert: "Add description to upload_pipeline_version in kfp" [\#6468](https://github.com/kubeflow/pipelines/pull/6468)
+
+### For Pipeline Authors
+
+### For Component Authors
+
+## Deprecations
+
+## Bug Fixes and Other Changes
+
+* Add Alpha feature notice for local client [\#6462](https://github.com/kubeflow/pipelines/issues/6462)
+* Import mock from stdlib and drop dependency. [\#6456](https://github.com/kubeflow/pipelines/issues/6456)
+* Update yapf config and move it to sdk folder. [\#6467](https://github.com/kubeflow/pipelines/issues/6467)
+* Fix typing issues. [\#6480](https://github.com/kubeflow/pipelines/issues/6480)
 * Load v1 and v2 component yaml into v2 ComponentSpec and convert v1 component
   spec to v2 component spec [\#6497](https://github.com/kubeflow/pipelines/issues/6497)
+* Format all Python files under SDK folder. [\#6501](https://github.com/kubeflow/pipelines/issues/6501)
 
 ## Documentation Updates
 
diff --git a/sdk/python/kfp/__init__.py b/sdk/python/kfp/__init__.py
index 59385c1c43..f0a7fee38b 100644
--- a/sdk/python/kfp/__init__.py
+++ b/sdk/python/kfp/__init__.py
@@ -16,7 +16,7 @@
 # https://packaging.python.org/guides/packaging-namespace-packages/#pkgutil-style-namespace-packages
 __path__ = __import__("pkgutil").extend_path(__path__, __name__)
 
-__version__ = '1.7.2'
+__version__ = '1.8.0'
 
 from . import components
 from . import containers
diff --git a/sdk/python/kfp/compiler/v2_compat.py b/sdk/python/kfp/compiler/v2_compat.py
index 232967c1ed..3cab23f1d2 100644
--- a/sdk/python/kfp/compiler/v2_compat.py
+++ b/sdk/python/kfp/compiler/v2_compat.py
@@ -20,10 +20,9 @@ from kfp import dsl
 from kfp.compiler import _default_transformers
 from kfp.pipeline_spec import pipeline_spec_pb2
 from kfp.v2 import compiler
-
 from kubernetes import client as k8s_client
 
-_DEFAULT_LAUNCHER_IMAGE = "gcr.io/ml-pipeline/kfp-launcher:1.7.2"
+_DEFAULT_LAUNCHER_IMAGE = "gcr.io/ml-pipeline/kfp-launcher:1.8.0"
 
 
 def update_op(op: dsl.ContainerOp,