diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 983a7f0..789b65a 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -1,3 +1,13 @@
+1.5.1 (2025-12-18)
+~~~~~~~~~~~~~~~~~~
+Azureml_Inference_Server_Http 1.5.1 (2025-12-18)
+~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
+
+Enhancements
+------------
+
+- Upgraded Pydantic package to 2.12
+
 1.5.0 (2025-08-13)
 ~~~~~~~~~~~~~~~~~~
 Azureml_Inference_Server_Http 1.5.0 (2025-08-13)
diff --git a/azureml_inference_server_http/_version.py b/azureml_inference_server_http/_version.py
index 16279ff..9386f54 100644
--- a/azureml_inference_server_http/_version.py
+++ b/azureml_inference_server_http/_version.py
@@ -1,4 +1,4 @@
 # Copyright (c) Microsoft Corporation.
 # Licensed under the MIT License.
 
-__version__ = "1.5.0"
+__version__ = "1.5.1"
diff --git a/setup.py b/setup.py
index dce8b78..c212224 100644
--- a/setup.py
+++ b/setup.py
@@ -73,7 +73,7 @@ def get_license():
         "opentelemetry-semantic-conventions",
         "azure-monitor-opentelemetry-exporter",
         'psutil<6.0.0; platform_system=="Windows"',
-        "pydantic~=2.11.0",
+        "pydantic~=2.12.0",
         "pydantic-settings",
         'waitress>=3.0.1; platform_system=="Windows"',
         "werkzeug>=3.0.3",  # Werkzeug 3.x breaks back-compatibility of urls package