diff --git a/CHANGELOG.md b/CHANGELOG.md
new file mode 100644
index 00000000..38ea0e36
--- /dev/null
+++ b/CHANGELOG.md
@@ -0,0 +1,7 @@
+Changes by Version
+==================
+
+0.0.8 (2017-11-20)
+------------------
+- Fix host IP formatting and improve local IP API (#4)
+- Use JSON instead of Thrift's TJSONProtocol (#12)
diff --git a/CMakeLists.txt b/CMakeLists.txt
index e50c1884..78e7c796 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -40,7 +40,7 @@ if(HUNTER_ENABLED)
   endif()
 endif()
 
-project(jaegertracing VERSION 0.0.7)
+project(jaegertracing VERSION 0.0.8)
 
 if(CMAKE_CXX_COMPILER_ID STREQUAL "GNU" OR
     CMAKE_CXX_COMPILER_ID MATCHES "Clang")
diff --git a/RELEASE.md b/RELEASE.md
new file mode 100644
index 00000000..fc945ccc
--- /dev/null
+++ b/RELEASE.md
@@ -0,0 +1,11 @@
+# Release Process
+
+1. Create a PR "Preparing for release X.Y.Z" against master branch
+    * Alter CHANGELOG.md from `<placeholder_version> (unreleased)` to `<X.Y.Z> (YYYY-MM-DD)`
+    * Update project version in CMakeLists.txt to `X.Y.Z`
+2. Create a release "Release X.Y.Z" on Github
+    * Create Tag `vX.Y.Z`
+    * Copy CHANGELOG.md into the release notes
+3. Create a PR "Back to development" against master branch
+    * Add `<next_version> (unreleased)` to CHANGELOG.md
+    * Update project version in CMakeLists.txt to the `<next version>`