diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4298bc95b..c40407962 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # CHANGELOG
 
+## 3.9.4 (2025-05-15)
+
+### Miscellaneous
+
+* Backport test/CI fixes to 3.9 ([#2487](https://github.com/ruby/rbs/pull/2487))
+* Use erb instead of set for load path testing ([#2468](https://github.com/ruby/rbs/pull/2468))
+
 ## 3.9.3 (2025-05-09)
 
 ### Miscellaneous
diff --git a/Gemfile.lock b/Gemfile.lock
index 18dd6e122..abb63d55f 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,7 +1,7 @@
 PATH
   remote: .
   specs:
-    rbs (3.9.3)
+    rbs (3.9.4)
       logger
 
 PATH
diff --git a/lib/rbs/version.rb b/lib/rbs/version.rb
index f8b544d00..0a90c854b 100644
--- a/lib/rbs/version.rb
+++ b/lib/rbs/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module RBS
-  VERSION = "3.9.3"
+  VERSION = "3.9.4"
 end