diff --git a/CHANGELOG.md b/CHANGELOG.md
index d54afcab..31bd9a89 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,8 @@
 
 ## Unreleased
 
+## Version 1.22.0 (2023-01-17)
+
 ### JFR streaming
 
 - Add buffer handlers and implement buffer metrics
diff --git a/version.gradle.kts b/version.gradle.kts
index f4efebcc..85b044d2 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
-val stableVersion = "1.22.0-SNAPSHOT"
-val alphaVersion = "1.22.0-alpha-SNAPSHOT"
+val stableVersion = "1.23.0-SNAPSHOT"
+val alphaVersion = "1.23.0-alpha-SNAPSHOT"
 
 allprojects {
   if (findProperty("otel.stable") != "true") {