diff --git a/CHANGELOG.md b/CHANGELOG.md
index 53b3f482f..1d79a13a5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,14 @@
 Changes by Version
 ==================
 
+1.34.0 (2022-05-18)
+-------------------
+* Fix: jaeger operator fails to parse Jaeger instance version ([#1885](https://github.com/jaegertracing/jaeger-operator/pull/1885), [@rubenvp8510](https://github.com/rubenvp8510))
+* Support Kubernetes 1.24 ([#1882](https://github.com/jaegertracing/jaeger-operator/pull/1882), [@iblancasa](https://github.com/iblancasa))
+* Cronjob migration ([#1856](https://github.com/jaegertracing/jaeger-operator/pull/1856), [@kevinearls](https://github.com/kevinearls))
+* Fix: setting default Istio annotation in Pod instead of Deployment ([#1860](https://github.com/jaegertracing/jaeger-operator/pull/1860), [@cnvergence](https://github.com/cnvergence))
+* Add http- prefix to port names in collector and agent services ([#1862](https://github.com/jaegertracing/jaeger-operator/pull/1862), [@cnvergence](https://github.com/cnvergence))
+
 1.33.0 (2022-04-14)
 -------------------
 * Adding priority-class for esIndexCleaner ([#1732](https://github.com/jaegertracing/jaeger-operator/pull/1732), [@swapnilpotnis](https://github.com/swapnilpotnis))
diff --git a/bundle/manifests/jaeger-operator.clusterserviceversion.yaml b/bundle/manifests/jaeger-operator.clusterserviceversion.yaml
index 21ebbae68..2299f8337 100644
--- a/bundle/manifests/jaeger-operator.clusterserviceversion.yaml
+++ b/bundle/manifests/jaeger-operator.clusterserviceversion.yaml
@@ -27,7 +27,7 @@ metadata:
     operators.operatorframework.io/project_layout: go.kubebuilder.io/v3
     repository: https://github.com/jaegertracing/jaeger-operator
     support: Jaeger Community
-  name: jaeger-operator.v1.33.0
+  name: jaeger-operator.v1.34.0
   namespace: placeholder
 spec:
   apiservicedefinitions: {}
@@ -403,7 +403,7 @@ spec:
                       fieldPath: metadata.namespace
                 - name: OPERATOR_NAME
                   value: jaeger-operator
-                image: quay.io/jaegertracing/jaeger-operator:1.33.0
+                image: quay.io/jaegertracing/jaeger-operator:1.34.0
                 livenessProbe:
                   httpGet:
                     path: /healthz
@@ -518,11 +518,11 @@ spec:
   maturity: alpha
   provider:
     name: CNCF
-  replaces: jaeger-operator.v1.32.0
+  replaces: jaeger-operator.v1.33.0
   selector:
     matchLabels:
       name: jaeger-operator
-  version: 1.33.0
+  version: 1.34.0
   webhookdefinitions:
   - admissionReviewVersions:
     - v1
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index a99054658..c4b762b77 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ kind: Kustomization
 images:
 - name: controller
   newName: quay.io/jaegertracing/jaeger-operator
-  newTag: 1.33.0
+  newTag: 1.34.0
diff --git a/config/manifests/bases/jaeger-operator.clusterserviceversion.yaml b/config/manifests/bases/jaeger-operator.clusterserviceversion.yaml
index 943f36c9c..c5caeb47a 100644
--- a/config/manifests/bases/jaeger-operator.clusterserviceversion.yaml
+++ b/config/manifests/bases/jaeger-operator.clusterserviceversion.yaml
@@ -124,7 +124,7 @@ spec:
   maturity: alpha
   provider:
     name: CNCF
-  replaces: jaeger-operator.v1.32.0
+  replaces: jaeger-operator.v1.33.0
   selector:
     matchLabels:
       name: jaeger-operator
diff --git a/versions.txt b/versions.txt
index 9878ef4e9..e878c97be 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,7 +1,7 @@
 # The Jaeger version to use by default. This is updated manually. Make sure to update the changelog
 # and add an upgrade procedure (pkg/upgrade) for the new version.
-jaeger=1.33.0
+jaeger=1.34.1
 
 # DO NOT EDIT the next value, it is updated automatically during the release.
 # Represents the current (latest) release of the Jaeger Operator.
-operator=1.33.0
+operator=1.34.0