diff --git a/CHANGELOG.md b/CHANGELOG.md
index d595ac6d6..dcc124ad8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,8 @@
 # Changelog
 
+## 7.54.0 - 2020-09-23
+* [#1017](https://github.com/stripe/stripe-php/pull/1017) Updated PHPDoc
+
 ## 7.53.1 - 2020-09-22
 * [#1015](https://github.com/stripe/stripe-php/pull/1015) Bugfix: don't error on systems with php_uname in disablefunctions with whitespace
 
diff --git a/VERSION b/VERSION
index 40f94c2dc..ccb032ee1 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-7.53.1
+7.54.0
diff --git a/lib/Stripe.php b/lib/Stripe.php
index 8b4abb4a4..dd070126f 100644
--- a/lib/Stripe.php
+++ b/lib/Stripe.php
@@ -58,7 +58,7 @@ class Stripe
     /** @var float Initial delay between retries, in seconds */
     private static $initialNetworkRetryDelay = 0.5;
 
-    const VERSION = '7.53.1';
+    const VERSION = '7.54.0';
 
     /**
      * @return string the API key used for requests