diff --git a/CHANGELOG.md b/CHANGELOG.md
index 700f1af9d..1bfc5dbdc 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Changelog
 
-## Unreleased
+## Version 1.42.0 (2024-12-13)
 
 ### AWS X-Ray SDK support
 
diff --git a/version.gradle.kts b/version.gradle.kts
index aa3b088b5..09365ee35 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
-val stableVersion = "1.42.0-SNAPSHOT"
-val alphaVersion = "1.42.0-alpha-SNAPSHOT"
+val stableVersion = "1.42.0"
+val alphaVersion = "1.42.0-alpha"
 
 allprojects {
   if (findProperty("otel.stable") != "true") {