diff --git a/CHANGELOG.md b/CHANGELOG.md
index cfcf2d9349..6e796720c9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,4 @@
-## UNRELEASED
+## 0.40.0 (January 27, 2022)
 
 BREAKING CHANGES:
 * Helm
diff --git a/cli/version/version.go b/cli/version/version.go
index 9f9594da46..d3eba8e85d 100644
--- a/cli/version/version.go
+++ b/cli/version/version.go
@@ -14,12 +14,12 @@ var (
 	//
 	// Version must conform to the format expected by
 	// github.com/hashicorp/go-version for tests to work.
-	Version = "0.39.0"
+	Version = "0.40.0"
 
 	// A pre-release marker for the version. If this is "" (empty string)
 	// then it means that it is a final release. Otherwise, this is a pre-release
 	// such as "dev" (in development), "beta", "rc1", etc.
-	VersionPrerelease = "dev"
+	VersionPrerelease = ""
 )
 
 // GetHumanVersion composes the parts of the version in a way that's suitable
diff --git a/control-plane/version/version.go b/control-plane/version/version.go
index 9f9594da46..d3eba8e85d 100644
--- a/control-plane/version/version.go
+++ b/control-plane/version/version.go
@@ -14,12 +14,12 @@ var (
 	//
 	// Version must conform to the format expected by
 	// github.com/hashicorp/go-version for tests to work.
-	Version = "0.39.0"
+	Version = "0.40.0"
 
 	// A pre-release marker for the version. If this is "" (empty string)
 	// then it means that it is a final release. Otherwise, this is a pre-release
 	// such as "dev" (in development), "beta", "rc1", etc.
-	VersionPrerelease = "dev"
+	VersionPrerelease = ""
 )
 
 // GetHumanVersion composes the parts of the version in a way that's suitable