diff --git a/CHANGELOG.md b/CHANGELOG.md
index fb6412096..de5dcf69b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -9,6 +9,9 @@ Also check this project's [releases](https://github.com/powerhome/redis-operator
 
 ## Unreleased
 
+## [v3.1.0] - 2024-09-05
+
+- [Automatically recreate StatefulSet after volume expansion](https://github.com/powerhome/redis-operator/pull/55)
 - [Upgrade default haproxy image to v2.9.6](https://github.com/powerhome/redis-operator/pull/52)
 
 ## [v3.0.0] - 2024-02-26
diff --git a/Makefile b/Makefile
index f8db8c32b..361920bb7 100644
--- a/Makefile
+++ b/Makefile
@@ -1,4 +1,4 @@
-VERSION := v3.0.0
+VERSION := v3.1.0
 
 # Name of this service/application
 SERVICE_NAME := redis-operator