diff --git a/CHANGELOG.md b/CHANGELOG.md
index 51d5277ab..6cf89b2b1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Changelog
 
-## Unreleased
+## Version 1.46.0 (2025-04-11)
 
 ### Baggage processor
 
diff --git a/version.gradle.kts b/version.gradle.kts
index 53c94ec29..eea253346 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
-val stableVersion = "1.46.0-SNAPSHOT"
-val alphaVersion = "1.46.0-alpha-SNAPSHOT"
+val stableVersion = "1.46.0"
+val alphaVersion = "1.46.0-alpha"
 
 allprojects {
   if (findProperty("otel.stable") != "true") {