diff --git a/hack/changelog-template.txt b/hack/changelog-template.txt
new file mode 100644
index 0000000000..b0381335fc
--- /dev/null
+++ b/hack/changelog-template.txt
@@ -0,0 +1,14 @@
+
+### %%IC_VERSION%%
+
+CHANGES:
+* Update NGINX version to X.Y.Z.
+* Update NGINX Plus version to RX.
+
+HELM CHART:
+* The version of the Helm chart is now %%HELM_CHART_VERSION%%.
+
+UPGRADE:
+* For NGINX, use the %%IC_VERSION%% image from our DockerHub: `nginx/nginx-ingress:%%IC_VERSION%%` or `nginx/nginx-ingress:%%IC_VERSION%%-alpine`
+* For NGINX Plus, please build your own image using the %%IC_VERSION%% source code.
+* For Helm, use version %%HELM_CHART_VERSION%% of the chart.
diff --git a/hack/prepare-minor-release-in-master.sh b/hack/prepare-minor-release-in-master.sh
new file mode 100755
index 0000000000..2b7c1fa11f
--- /dev/null
+++ b/hack/prepare-minor-release-in-master.sh
@@ -0,0 +1,27 @@
+#!/usr/bin/env bash
+
+# Updates the files required for a new minor release. Run this script in the master branch.
+#
+# Usage:
+# hack/prepare-minor-release-in-master.sh ic-version helm-chart-version
+#
+# Example:
+# hack/prepare-minor-release-in-master.sh 1.5.5 0.3.5
+
+if [ $# != 2 ];
+then
+    echo "Invalid number of arguments" 1>&2
+    echo "Usage: $0 ic-version helm-chart-version" 1>&2
+    exit 1
+fi
+
+ic_version=$1
+helm_chart_version=$2
+
+prev_ic_version=$(echo $ic_version | awk -F. '{ printf("%s.%s.%d", $1, $2, $3-1) }')
+prev_helm_chart_version=$(echo $helm_chart_version | awk -F. '{ printf("%s.%s.%d", $1, $2, $3-1) }')
+
+sed -i "" "s/$prev_ic_version/$ic_version/g" README.md
+
+sed -i "" "1r hack/changelog-template.txt" CHANGELOG.md
+sed -i "" -e "s/%%IC_VERSION%%/$ic_version/g" -e "s/%%HELM_CHART_VERSION%%/$helm_chart_version/g" CHANGELOG.md
diff --git a/hack/prepare-minor-release.sh b/hack/prepare-minor-release.sh
new file mode 100755
index 0000000000..b857d24d81
--- /dev/null
+++ b/hack/prepare-minor-release.sh
@@ -0,0 +1,45 @@
+#!/usr/bin/env bash
+
+# Updates the files required for a new minor release. Run this script in the release branch.
+#
+# Usage:
+# hack/prepare-minor-release.sh ic-version helm-chart-version
+#
+# Example:
+# hack/prepare-minor-release.sh 1.5.5 0.3.5
+
+FILES_TO_UPDATE_IC_VERSION=(
+    Makefile
+    README.md
+    build/README.md
+    deployments/daemon-set/nginx-ingress.yaml
+    deployments/daemon-set/nginx-plus-ingress.yaml
+    deployments/deployment/nginx-ingress.yaml
+    deployments/deployment/nginx-plus-ingress.yaml
+    deployments/helm-chart/Chart.yaml
+    deployments/helm-chart/README.md
+    deployments/helm-chart/values-icp.yaml
+    deployments/helm-chart/values-plus.yaml
+    deployments/helm-chart/values.yaml
+)
+
+FILE_TO_UPDATE_HELM_CHART_VERSION=( deployments/helm-chart/Chart.yaml )
+
+if [ $# != 2 ];
+then
+    echo "Invalid number of arguments" 1>&2
+    echo "Usage: $0 ic-version helm-chart-version" 1>&2
+    exit 1
+fi
+
+ic_version=$1
+helm_chart_version=$2
+
+prev_ic_version=$(echo $ic_version | awk -F. '{ printf("%s.%s.%d", $1, $2, $3-1) }')
+prev_helm_chart_version=$(echo $helm_chart_version | awk -F. '{ printf("%s.%s.%d", $1, $2, $3-1) }')
+
+sed -i "" "s/$prev_ic_version/$ic_version/g" ${FILES_TO_UPDATE_IC_VERSION[*]}
+sed -i "" "s/$prev_helm_chart_version/$helm_chart_version/g" ${FILE_TO_UPDATE_HELM_CHART_VERSION[*]}
+
+sed -i "" "1r hack/changelog-template.txt" CHANGELOG.md
+sed -i "" -e "s/%%IC_VERSION%%/$ic_version/g" -e "s/%%HELM_CHART_VERSION%%/$helm_chart_version/g" CHANGELOG.md