diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index eb4a85e123..a4d437ff26 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1 +1 @@
-{".":"4.28.1","packages/phoenix-evals":"0.15.0","packages/phoenix-otel":"0.3.0"}
+{".":"4.28.1","packages/phoenix-evals":"0.15.0","packages/phoenix-otel":"0.4.0"}
diff --git a/packages/phoenix-otel/CHANGELOG.md b/packages/phoenix-otel/CHANGELOG.md
index 26fa8c0c38..5bee33550f 100644
--- a/packages/phoenix-otel/CHANGELOG.md
+++ b/packages/phoenix-otel/CHANGELOG.md
@@ -1,5 +1,22 @@
 # Changelog
 
+## [0.4.0](https://github.com/Arize-ai/phoenix/compare/arize-phoenix-otel-v0.3.0...arize-phoenix-otel-v0.4.0) (2024-08-23)
+
+
+### Features
+
+* Improve urlencoding logic + bug fixes ([#4338](https://github.com/Arize-ai/phoenix/issues/4338)) ([604fcef](https://github.com/Arize-ai/phoenix/commit/604fcefc465c8d7534ac2152a84cbe8ddcf06597))
+
+
+### Bug Fixes
+
+* support pydantic in the range 2.4.1&lt;=pydantic<=2.7.1 ([#4323](https://github.com/Arize-ai/phoenix/issues/4323)) ([fa5eeff](https://github.com/Arize-ai/phoenix/commit/fa5eeff45b0752508d4bc51334607ef4acc19474))
+
+
+### Documentation
+
+* Refine otel readme ([#4329](https://github.com/Arize-ai/phoenix/issues/4329)) ([beb04a8](https://github.com/Arize-ai/phoenix/commit/beb04a872267178a57dce0211fb16f0c8bb3ea47))
+
 ## [0.3.0](https://github.com/Arize-ai/phoenix/compare/arize-phoenix-otel-v0.2.0...arize-phoenix-otel-v0.3.0) (2024-08-21)
 
 
diff --git a/packages/phoenix-otel/pyproject.toml b/packages/phoenix-otel/pyproject.toml
index 39dd5c7455..60c2fb6026 100644
--- a/packages/phoenix-otel/pyproject.toml
+++ b/packages/phoenix-otel/pyproject.toml
@@ -21,7 +21,7 @@ classifiers = [
   "Programming Language :: Python :: 3.11",
   "Programming Language :: Python :: 3.12",
 ]
-version = "0.3.0"
+version = "0.4.0"
 dependencies = [
   "opentelemetry-semantic-conventions",
   "opentelemetry-exporter-otlp",