diff --git a/CHANGELOG.md b/CHANGELOG.md
index 45eed04ad8..da72d65fd5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,8 @@
 
 ## Unreleased
 
+## Version 1.20.0 (2022-11-11)
+
 ### API
 
 - Fix bug in `W3CBaggagePropagator` that caused `+` characters to be decoded as whitespace ` `.
diff --git a/version.gradle.kts b/version.gradle.kts
index 72c89c25d9..9f0ea4ac9b 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,7 +1,7 @@
 val snapshot = true
 
 allprojects {
-  var ver = "1.20.0"
+  var ver = "1.21.0"
   val release = findProperty("otel.release")
   if (release != null) {
     ver += "-" + release