diff --git a/CHANGELOG.md b/CHANGELOG.md
index d5c2c198f..ac58b3409 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,9 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased](https://github.com/qutip/QuantumToolbox.jl/tree/main)
 
+## [v0.33.0]
+Release date: 2025-07-22
+
 - Implement `EnrSpace` and corresponding functionality. ([#500])
 - Check for orthogonality breakdown in `Lanczos` solver for `spectrum`. ([#501])
 - Store both `times` and `times_states` in time evolution solutions. ([#506], [#504])
@@ -183,6 +186,7 @@ Release date: 2024-11-13
 [v0.31.1]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.31.1
 [v0.32.0]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.32.0
 [v0.32.1]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.32.1
+[v0.33.0]: https://github.com/qutip/QuantumToolbox.jl/releases/tag/v0.33.0
 [#86]: https://github.com/qutip/QuantumToolbox.jl/issues/86
 [#139]: https://github.com/qutip/QuantumToolbox.jl/issues/139
 [#271]: https://github.com/qutip/QuantumToolbox.jl/issues/271
diff --git a/Project.toml b/Project.toml
index 5d2435573..8b33fbb74 100644
--- a/Project.toml
+++ b/Project.toml
@@ -1,7 +1,7 @@
 name = "QuantumToolbox"
 uuid = "6c2fb7c5-b903-41d2-bc5e-5a7c320b9fab"
 authors = ["Alberto Mercurio", "Yi-Te Huang"]
-version = "0.32.1"
+version = "0.33.0"
 
 [deps]
 ArrayInterface = "4fba245c-0d91-5ea0-9b3e-6abc04ee57a9"