diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9351011ac..1e3adb92e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,12 +1,25 @@
 # Changelog
 
-## Unreleased
+## Version 1.47.0 (2025-07-03)
+
+### Disk buffering
+
+- Shared storage
+  ([#1912](https://github.com/open-telemetry/opentelemetry-java-contrib/pull/1912))
+- Implementing ExtendedLogRecordData
+  ([#1918](https://github.com/open-telemetry/opentelemetry-java-contrib/pull/1918))
+- Add missing EventName to disk-buffering LogRecordDataMapper
+  ([#1950](https://github.com/open-telemetry/opentelemetry-java-contrib/pull/1950))
 
 ### GCP authentication extension
 
 - Update the internal implementation such that the required headers are retrieved
   from the Google Auth Library instead of manually constructing and passing them.
   ([#1860](https://github.com/open-telemetry/opentelemetry-java-contrib/pull/1860))
+- Add metrics support to auth extension
+  ([#1891](https://github.com/open-telemetry/opentelemetry-java-contrib/pull/1891))
+- Update ConfigurableOptions to read from ConfigProperties
+  ([#1904](https://github.com/open-telemetry/opentelemetry-java-contrib/pull/1904))
 
 ### Inferred spans
 
diff --git a/version.gradle.kts b/version.gradle.kts
index 0ae7508cb..4d162323b 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
-val stableVersion = "1.47.0-SNAPSHOT"
-val alphaVersion = "1.47.0-alpha-SNAPSHOT"
+val stableVersion = "1.48.0-SNAPSHOT"
+val alphaVersion = "1.48.0-alpha-SNAPSHOT"
 
 allprojects {
   if (findProperty("otel.stable") != "true") {