diff --git a/docs/release-notes.md b/docs/release-notes.md
index 84df94b07..adede685e 100644
--- a/docs/release-notes.md
+++ b/docs/release-notes.md
@@ -1,5 +1,7 @@
 ## Latest changes
 
+## 0.38.0
+
 * Add recent articles to [External Links](https://fastapi.tiangolo.com/external-links/) and recent opinions. PR [#490](https://github.com/tiangolo/fastapi/pull/490).
 * Upgrade support range for Starlette to include `0.12.8`. The new range is `>=0.11.1,<=0.12.8"`. PR [#477](https://github.com/tiangolo/fastapi/pull/477) by [@dmontagu](https://github.com/dmontagu).
 * Upgrade support to Pydantic version 0.32.2 and update internal code to use it (breaking change). PR [#463](https://github.com/tiangolo/fastapi/pull/463) by [@dmontagu](https://github.com/dmontagu).
diff --git a/fastapi/__init__.py b/fastapi/__init__.py
index 393243f7f..70630872d 100644
--- a/fastapi/__init__.py
+++ b/fastapi/__init__.py
@@ -1,6 +1,6 @@
 """FastAPI framework, high performance, easy to learn, fast to code, ready for production"""
 
-__version__ = "0.37.0"
+__version__ = "0.38.0"
 
 from starlette.background import BackgroundTasks