diff --git a/docs/en/docs/release-notes.md b/docs/en/docs/release-notes.md
index 2d3a0f4e4..5995ecca6 100644
--- a/docs/en/docs/release-notes.md
+++ b/docs/en/docs/release-notes.md
@@ -2,8 +2,16 @@
 
 ## Latest Changes
 
-* 👥 Update FastAPI People. PR [#4274](https://github.com/tiangolo/fastapi/pull/4274) by [@github-actions[bot]](https://github.com/apps/github-actions).
+## 0.70.1
+
+There's nothing interesting in this particular FastAPI release. It is mainly to enable/unblock the release of the next version of Pydantic that comes packed with features and improvements. 🤩
+
+### Fixes
+
 * 🐛 Fix JSON Schema for dataclasses, supporting the fixes in Pydantic 1.9. PR [#4272](https://github.com/tiangolo/fastapi/pull/4272) by [@PrettyWood](https://github.com/PrettyWood).
+
+### Translations
+
 * 🌐 Add Korean translation for `docs/tutorial/request-forms-and-files.md`. PR [#3744](https://github.com/tiangolo/fastapi/pull/3744) by [@NinaHwang](https://github.com/NinaHwang).
 * 🌐 Add Korean translation for `docs/tutorial/request-files.md`. PR [#3743](https://github.com/tiangolo/fastapi/pull/3743) by [@NinaHwang](https://github.com/NinaHwang).
 * 🌐 Add portuguese translation for `docs/tutorial/query-params-str-validations.md`. PR [#3965](https://github.com/tiangolo/fastapi/pull/3965) by [@leandrodesouzadev](https://github.com/leandrodesouzadev).
@@ -19,6 +27,10 @@
 * 🌐 Add French translation for `docs/tutorial/query-params.md`. PR [#3556](https://github.com/tiangolo/fastapi/pull/3556) by [@Smlep](https://github.com/Smlep).
 * 🌐 Add Turkish translation for `docs/python-types.md`. PR [#3926](https://github.com/tiangolo/fastapi/pull/3926) by [@BilalAlpaslan](https://github.com/BilalAlpaslan).
 
+### Internal
+
+* 👥 Update FastAPI People. PR [#4274](https://github.com/tiangolo/fastapi/pull/4274) by [@github-actions[bot]](https://github.com/apps/github-actions).
+
 ## 0.70.0
 
 This release just upgrades Starlette to the latest version, `0.16.0`, which includes several bug fixes and some small breaking changes.
diff --git a/fastapi/__init__.py b/fastapi/__init__.py
index 4d4d4333d..8bb6ce15b 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__ = "0.70.0"
+__version__ = "0.70.1"
 
 from starlette import status as status