diff --git a/CHANGELOG.md b/CHANGELOG.md
index dfb5dd59..98fb2e7d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,6 @@
-Unreleased
+## Unreleased
+
+## 3.4.0
 
 * [#691](https://github.com/CanCanCommunity/cancancan/pull/691): Add two new subquery strategies: `joined_alias_exists_subquery`, `joined_alias_each_rule_as_exists_subquery`. ([@kaspernj][])
 * [#767](https://github.com/CanCanCommunity/cancancan/pull/767): Improve ability checks with nested resources (hash checks)vim. ([@Juleffel][])
diff --git a/lib/cancan/version.rb b/lib/cancan/version.rb
index d436325d..d5cf6e1f 100644
--- a/lib/cancan/version.rb
+++ b/lib/cancan/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module CanCan
-  VERSION = '3.3.0'.freeze
+  VERSION = '3.4.0'.freeze
 end