diff --git a/CHANGELOG.md b/CHANGELOG.md
index 92e234a77b..fad2b0cc78 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -15,15 +15,50 @@ Increment the:
 
 ## [Unreleased]
 
+## [1.16.1 2024-07-17]
+
+* [BUILD] Add bazel missing BUILD file
+  [#2720](https://github.com/open-telemetry/opentelemetry-cpp/pull/2720)
+
+* [SDK] Added reserve for spans array in BatchSpanProcessor.
+  [#2724](https://github.com/open-telemetry/opentelemetry-cpp/pull/2724)
+
+* [DOC] Update "Using triplets" section in building-with-vcpkg documentation.
+  [#2726](https://github.com/open-telemetry/opentelemetry-cpp/pull/2726)
+
+* [DOC] Remove comment for unused LoggerProvider initialization params
+  [#2972](https://github.com/open-telemetry/opentelemetry-cpp/pull/2972)
+
 * [SECURITY] Remove OTLP HTTP support for TLS 1.0 and TLS 1.1,
   require TLS 1.2 or better
-  [#2721](https://github.com/open-telemetry/opentelemetry-cpp/pull/2721)
+  [#2722](https://github.com/open-telemetry/opentelemetry-cpp/pull/2722)
+
+* [TEST] Fix opentelemetry-collector bind address
+  [#2989](https://github.com/open-telemetry/opentelemetry-cpp/pull/2989)
+
+* [EXPORTER] Fix references in AttributeValueVisitor
+  [#2985](https://github.com/open-telemetry/opentelemetry-cpp/pull/2985)
+
+* [Code health] include-what-you-use cleanup, part 2
+  [#2704](https://github.com/open-telemetry/opentelemetry-cpp/pull/2704)
+
+* [Code Health] clang-tidy cleanup, part 1
+  [#2990](https://github.com/open-telemetry/opentelemetry-cpp/pull/2990)
+
+* [CI] Build failures with ABSEIL 20240116 and CMAKE 3.30
+  [#3002](https://github.com/open-telemetry/opentelemetry-cpp/pull/3002)
+
+* [CI] Enable bzlmod
+  [#2995](https://github.com/open-telemetry/opentelemetry-cpp/pull/2995)
+
+* [Metrics SDK] Fix hash calculation for nostd::string
+  [#2999](https://github.com/open-telemetry/opentelemetry-cpp/pull/2999)
 
 Breaking changes:
 
 * [SECURITY] Remove OTLP HTTP support for TLS 1.0 and TLS 1.1,
   require TLS 1.2 or better
-  [#2721](https://github.com/open-telemetry/opentelemetry-cpp/pull/2721)
+  [#2722](https://github.com/open-telemetry/opentelemetry-cpp/pull/2722)
   * The OTLP HTTP exporter no longer accept options like:
     * min_TLS = 1.0
     * min_TLS = 1.1
diff --git a/api/include/opentelemetry/version.h b/api/include/opentelemetry/version.h
index e09c193659..d98ac978f2 100644
--- a/api/include/opentelemetry/version.h
+++ b/api/include/opentelemetry/version.h
@@ -10,10 +10,10 @@
 #  define OPENTELEMETRY_ABI_VERSION_NO 1
 #endif
 
-#define OPENTELEMETRY_VERSION "1.16.0"
+#define OPENTELEMETRY_VERSION "1.16.1"
 #define OPENTELEMETRY_VERSION_MAJOR 1
 #define OPENTELEMETRY_VERSION_MINOR 16
-#define OPENTELEMETRY_VERSION_PATCH 0
+#define OPENTELEMETRY_VERSION_PATCH 1
 
 #define OPENTELEMETRY_ABI_VERSION OPENTELEMETRY_STRINGIFY(OPENTELEMETRY_ABI_VERSION_NO)
 
diff --git a/docs/public/conf.py b/docs/public/conf.py
index 927e07751a..96caa2b43a 100644
--- a/docs/public/conf.py
+++ b/docs/public/conf.py
@@ -24,7 +24,7 @@
 author = 'OpenTelemetry authors'
 
 # The full version, including alpha/beta/rc tags
-release = "1.16.0"
+release = "1.16.1"
 
 # Run sphinx on subprojects and copy output
 # -----------------------------------------
diff --git a/sdk/include/opentelemetry/sdk/version/version.h b/sdk/include/opentelemetry/sdk/version/version.h
index bfc93238b4..86b815e3bc 100644
--- a/sdk/include/opentelemetry/sdk/version/version.h
+++ b/sdk/include/opentelemetry/sdk/version/version.h
@@ -3,7 +3,7 @@
 
 #pragma once
 
-#define OPENTELEMETRY_SDK_VERSION "1.16.0"
+#define OPENTELEMETRY_SDK_VERSION "1.16.1"
 
 #include "opentelemetry/version.h"
 
diff --git a/sdk/src/version/version.cc b/sdk/src/version/version.cc
index e5fdbda99d..80f2226400 100644
--- a/sdk/src/version/version.cc
+++ b/sdk/src/version/version.cc
@@ -13,12 +13,12 @@ namespace version
 {
 const int major_version    = 1;
 const int minor_version    = 16;
-const int patch_version    = 0;
+const int patch_version    = 1;
 const char *pre_release    = "NONE";
 const char *build_metadata = "NONE";
-const char *short_version  = "1.16.0";
-const char *full_version   = "1.16.0-NONE-NONE";
-const char *build_date     = "Fri Jun 21 16:41:17 UTC 2024";
+const char *short_version  = "1.16.1";
+const char *full_version   = "1.16.1-NONE-NONE";
+const char *build_date     = "Wed Jul 17 17:34:38 UTC 2024";
 }  // namespace version
 }  // namespace sdk
 OPENTELEMETRY_END_NAMESPACE