diff --git a/CHANGELOG.md b/CHANGELOG.md
index 985c853bb..3edd6207d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,7 +7,15 @@ https://github.com/coleifer/peewee/releases
 
 ## master
 
-[View commits](https://github.com/coleifer/peewee/compare/3.16.1...master)
+[View commits](https://github.com/coleifer/peewee/compare/3.16.2...master)
+
+## 3.16.2
+
+Fixes a longstanding issue with thread-safety of various decorators, including
+`atomic()`, `transaction()`, `savepoint()`. The context-managers are
+unaffected. See #2709 for details.
+
+[View commits](https://github.com/coleifer/peewee/compare/3.16.1...3.16.2)
 
 ## 3.16.1
 
diff --git a/peewee.py b/peewee.py
index 7f69a4656..0bb172b08 100644
--- a/peewee.py
+++ b/peewee.py
@@ -70,7 +70,7 @@
         mysql = None
 
 
-__version__ = '3.16.1'
+__version__ = '3.16.2'
 __all__ = [
     'AnyField',
     'AsIs',