diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4114033868b..d27c1584781 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Release Notes for Craft CMS 3.x
 
-## Unreleased
+## 3.8.16 - 2023-07-18
 
 - The “Access the control panel” user permission now includes a warning that the permission grants view-only access to user data and most content.
 - Fixed an RCE vulnerability.
diff --git a/src/config/app.php b/src/config/app.php
index b4e569a9392..5b6787ecbb9 100644
--- a/src/config/app.php
+++ b/src/config/app.php
@@ -3,7 +3,7 @@
 return [
     'id' => 'CraftCMS',
     'name' => 'Craft CMS',
-    'version' => '3.8.15',
+    'version' => '3.8.16',
     'schemaVersion' => '3.8.0.1',
     'minVersionRequired' => '2.6.2788',
     'basePath' => dirname(__DIR__), // Defines the @app alias