diff --git a/CHANGELOG.md b/CHANGELOG.md
index b65389785d..5bf2abad09 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,7 +1,39 @@
 # Changelog
 
-## Version 0.38.0
-_In development_
+## Version 0.38.0 
+
+<!-- ([Full Changelog](https://github.com/unitaryfund/mitiq/compare/v0.37.0...v0.38.0)) -->
+
+### Highlights
+
+🚀 As of this release, thanks to @natestemen, **we are officially supporting Python 3.12 and dropping Python 3.9**.
+
+🌉 As part of UnitaryHack 2024, new contributor @NnguyenHTommy **fixed a Qiskit to Cirq gate conversion error** by implementing a fallback mechanism to decompose and transpile the Qiskit circuit into native Cirq gates.
+
+🌀 Another Unitary Hacker, @EmilianoG-byte **added functionality to simulate noise specifically on CNOT and CZ gates when using the Pauli Twilring technique** to symmetrize errors.
+
+🔉 As hinted in last release's spoilers, @purva-thakre has **implemented the noise scaling functionality required for the Layerwise Richardson Extrapolation (LRE) technique**, which allows a more fine-grained control over the amount of noise in circuits compared to the standard unitary folding method.
+
+### ✨ Enhancements
+- **Noise Scaling for LRE** (#2347) [@purva-thakre]
+- **Issue #2354 Fix - qiskit QFT gates error during conversion** (#2404) [@NnguyenHTommy]
+- **Simulate noise for CNOT and CZ gates in Pauli Twirling** (#2397) [@EmilianoG-byte]
+
+### 🛠️ Maintenance and Upkeep Improvements
+- Update readme (#2421) [@purva-thakre]
+- Update README with Github discussion link (#2419) [@bdg221]
+- Update contributing guide (#2382) [@purva-thakre]
+
+### 🧑🏽‍💻 Dev Environment Improvements
+- Used trusted publishers for testpypi publishing (#2320) [@natestemen]
+- bump min python version for intersphinx map (#2425) [@natestemen]
+- **Support python 3.12 and drop 3.9** (#2066) [@natestemen]
+
+#### 📦 Dependency Updates
+- Bump qibo from 0.2.8 to 0.2.9 (#2430) [@dependabot[bot]]
+- Update qiskit requirement from ~=1.1.0 to ~=1.1.1 (#2414) [@dependabot[bot]]
+- Bump pyscf from 2.6.0 to 2.6.2 (#2415) [@dependabot[bot]]
+
 
 ## Version 0.37.0
 
@@ -67,7 +99,7 @@ mitiq.qem_methods()
 ```
 This function provides an accessible way to understand the module naming of each technique supported by Mitiq.
 
-Thanks to @andre-a-alves, @cosenal, @jordandsulliva, @mistywahl, @purva-thakre for the PRs in this milestone.
+Thanks to @andre-a-alves, @cosenal, @jordandsullivan, @mistywahl, @purva-thakre for the PRs in this milestone.
 
 ### Enhancements
 
diff --git a/VERSION.txt b/VERSION.txt
index 44eb47d509..ca75280b09 100644
--- a/VERSION.txt
+++ b/VERSION.txt
@@ -1 +1 @@
-0.38.0dev
+0.38.0