diff --git a/.changelog/unreleased/breaking-changes/223-prost-tonic-update.md b/.changelog/v0.47.0/breaking-changes/223-prost-tonic-update.md
similarity index 100%
rename from .changelog/unreleased/breaking-changes/223-prost-tonic-update.md
rename to .changelog/v0.47.0/breaking-changes/223-prost-tonic-update.md
diff --git a/.changelog/v0.47.0/breaking-changes/223-tendermint-proto-update.md b/.changelog/v0.47.0/breaking-changes/223-tendermint-proto-update.md
new file mode 100644
index 00000000..162dcbed
--- /dev/null
+++ b/.changelog/v0.47.0/breaking-changes/223-tendermint-proto-update.md
@@ -0,0 +1 @@
+- Update `tendermint-proto` to v0.38 ([#223](https://github.com/cosmos/ibc-proto-rs/pull/223))
diff --git a/.changelog/v0.47.0/summary.md b/.changelog/v0.47.0/summary.md
new file mode 100644
index 00000000..2d6f6133
--- /dev/null
+++ b/.changelog/v0.47.0/summary.md
@@ -0,0 +1,3 @@
+*July 18th, 2024*
+
+This release bumps `tendermint-proto` to v0.38, `prost` to v0.13 and `tonic` to v0.12.
diff --git a/CHANGELOG.md b/CHANGELOG.md
index cfaeb54c..e7b2b555 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,16 @@
 # CHANGELOG
 
+## v0.47.0
+
+*July 18th, 2024*
+
+This release bumps `tendermint-proto` to v0.38, `prost` to v0.13 and `tonic` to v0.12.
+
+### BREAKING CHANGES
+
+- Update `tendermint-proto` to v0.38 ([#223](https://github.com/cosmos/ibc-proto-rs/pull/223))
+- Update `prost` to v0.13 and `tonic` to v0.12 ([#223](https://github.com/cosmos/ibc-proto-rs/pull/223))
+
 ## v0.46.0
 
 *June 3rd, 2024*
diff --git a/Cargo.toml b/Cargo.toml
index 3250c04b..a969e637 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name         = "ibc-proto"
-version      = "0.46.0"
+version      = "0.47.0"
 authors      = ["Informal Systems <hello@informal.systems>"]
 edition      = "2021"
 license      = "Apache-2.0"