diff --git a/sdk/azidentity/CHANGELOG.md b/sdk/azidentity/CHANGELOG.md
index 7ea119ab30dd..d4b83436926d 100644
--- a/sdk/azidentity/CHANGELOG.md
+++ b/sdk/azidentity/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 1.5.0-beta.1 (2023-10-10)
+
+### Features Added
+* Optional persistent token caching for most credentials. Set `TokenCachePersistenceOptions`
+  on a credential's options to enable and configure this. See the package documentation for
+  this version and [TOKEN_CACHING.md](https://aka.ms/azsdk/go/identity/caching) for more
+  details.
+* `AzureDeveloperCLICredential` authenticates with the Azure Developer CLI (`azd`). This
+  credential is also part of the `DefaultAzureCredential` authentication flow.
+
 ## 1.4.0 (2023-10-10)
 
 ### Bugs Fixed
diff --git a/sdk/azidentity/version.go b/sdk/azidentity/version.go
index 65e74e31e3b1..d7632b915ebb 100644
--- a/sdk/azidentity/version.go
+++ b/sdk/azidentity/version.go
@@ -11,5 +11,5 @@ const (
 	component = "azidentity"
 
 	// Version is the semantic version (see http://semver.org) of this module.
-	version = "v1.4.0"
+	version = "v1.5.0-beta.1"
 )