diff --git a/CHANGES.md b/CHANGES.md
index 82810acedd..7f01b45a5f 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -7,6 +7,27 @@
 
 ## Changes
 
+### Version 0.25.0
+
+Breaking changes:
+- Added `BufRead` + `Seek` bound on many decoders.
+- Use `ExtendedColorType` instead of `ColorType` when encoding.
+- Removed `ImageOutputFormat`, `GenericImageView::bounds`, and several other
+  deprecated items.
+- Removed incremental decoding support and changed `ImageDecoder` so the trait
+  is object safe.
+- Pixel types are now `repr(transparent)` rather than `repr(C)`.
+- Made color_quant dependency optional.
+- Renamed some feature flags.
+
+Structural changes:
+- Increased MSRV to 1.67.1
+
+Codec changes:
+- Switched to image-webp for WebP encoding.
+- Switched to zune-jpeg for JPEG decoding.
+- Made the HDR decoder produce f32 images.
+
 ### Version 0.24.9
 
 Structural changes:
diff --git a/Cargo.toml b/Cargo.toml
index b5a15680d0..95ba77960d 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "image"
-version = "0.24.9"
+version = "0.25.0-preview.0"
 edition = "2021"
 resolver = "2"