diff --git a/CHANGELOG.md b/CHANGELOG.md
index f2c08c6065..7ed1f75e2a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -15,17 +15,74 @@ Increment the:
 
 ## [Unreleased]
 
-* [SDK] Update ExemplarFilter and ExemplarReservoir for spec
-  [#2372](https://github.com/open-telemetry/opentelemetry-cpp/pull/2372)
+## [1.16.0] 2024-06-20
 
+* [BUILD] Upgrade bazel abseil from 20220623.1 to 20230802.2
+  [#2650](https://github.com/open-telemetry/opentelemetry-cpp/pull/2650)
+* [BUILD] Use nostd::enable_if_t instead of std::enable_if_t
+  [#2648](https://github.com/open-telemetry/opentelemetry-cpp/pull/2648)
+* [EXEMPLAR] Update ExemplarFilter and ExemplarReservoir for spec
+  [#2372](https://github.com/open-telemetry/opentelemetry-cpp/pull/2372)
+* [BUILD] Link CoreFoundation on apple systems
+  [#2655](https://github.com/open-telemetry/opentelemetry-cpp/pull/2655)
+* [SDK] Avoid missing conditional variable update and simplify atomic bool
+  [#2553](https://github.com/open-telemetry/opentelemetry-cpp/pull/2553)
+* [BUILD] Build break in OLTP_FILE tests
+  [#2659](https://github.com/open-telemetry/opentelemetry-cpp/pull/2659)
+* [EXPORTER] General cleanup for is_shutdown flags in exporters.
+  [#2663](https://github.com/open-telemetry/opentelemetry-cpp/pull/2663)
+* [CI] Upgrade Maintainers CI to ubuntu-24.04
+  [#2670](https://github.com/open-telemetry/opentelemetry-cpp/pull/2670)
+* [BUILD] Upgrade to opentelemetry-proto 1.3.1
+  [#2669](https://github.com/open-telemetry/opentelemetry-cpp/pull/2669)
+* [API] Return NoopLogRecord from NoopLogger
+  [#2668](https://github.com/open-telemetry/opentelemetry-cpp/pull/2668)
+* [BUILD] Remove the hard-coded separator in tracestate
+  [#2672](https://github.com/open-telemetry/opentelemetry-cpp/pull/2672)
+* [SDK] Fix forceflush may wait for ever
+  [#2584](https://github.com/open-telemetry/opentelemetry-cpp/pull/2584)
+* [API] DO not allow unsafe Logger::EmitLogRecord
+  [#2673](https://github.com/open-telemetry/opentelemetry-cpp/pull/2673)
+* [BUILD] Read default proto version from third_party_release
+  [#2677](https://github.com/open-telemetry/opentelemetry-cpp/pull/2677)
+* [CI] include-what-you-use
+  [#2629](https://github.com/open-telemetry/opentelemetry-cpp/pull/2629)
 * [CI] Upgrade to clang-format 18
   [#2684](https://github.com/open-telemetry/opentelemetry-cpp/pull/2684)
-
+* [CI] Fix CI failures on Ubuntu 24.04
+  [#2686](https://github.com/open-telemetry/opentelemetry-cpp/pull/2686)
+* [SEMANTIC CONVENTIONS] Upgrade to version 1.26.0
+  [#2687](https://github.com/open-telemetry/opentelemetry-cpp/pull/2687)
 * [API/SDK] Provider cleanup
   [#2664](https://github.com/open-telemetry/opentelemetry-cpp/pull/2664)
-
+* [ETW] Add table name mapping for Logs other than the default Log table
+  [#2691](https://github.com/open-telemetry/opentelemetry-cpp/pull/2691)
+* [CI] Remove benchmark overlay for vcpkg
+  [#2695](https://github.com/open-telemetry/opentelemetry-cpp/pull/2695)
+* [BUILD] Remove the incorrect set of CMAKE_MSVC_RUNTIME_LIBRARY for vcpkg
+  [#2696](https://github.com/open-telemetry/opentelemetry-cpp/pull/2696)
+* [BUILD] CMakeLists.txt: Enable CMAKE_MSVC_RUNTIME_LIBRARY support
+  [#2652](https://github.com/open-telemetry/opentelemetry-cpp/pull/2652)
+* [EXPORTER] OTLP file: use thread-safe file/io
+  [#2675](https://github.com/open-telemetry/opentelemetry-cpp/pull/2675)
+* [bazel] Bump version and deps
+  [#2679](https://github.com/open-telemetry/opentelemetry-cpp/pull/2679)
+* [BUILD] Add support for bzlmod
+  [#2608](https://github.com/open-telemetry/opentelemetry-cpp/pull/2608)
+* [BUILD] Fix Import Abseil-cpp
+  [#2701](https://github.com/open-telemetry/opentelemetry-cpp/pull/2701)
 * [Code health] include-what-you-use cleanup
   [#2692](https://github.com/open-telemetry/opentelemetry-cpp/pull/2692)
+* [BUILD] Restore Bazel flag removed from public API
+  [#2702](https://github.com/open-telemetry/opentelemetry-cpp/pull/2702)
+* [DOC] Fix typo tace_id -> trace_id in logger.h
+  [#2703](https://github.com/open-telemetry/opentelemetry-cpp/pull/2703)
+* Bump docker/build-push-action from 5 to 6
+  [#2705](https://github.com/open-telemetry/opentelemetry-cpp/pull/2705)
+* [CI] Enable ARM64 build in CI
+  [#2699](https://github.com/open-telemetry/opentelemetry-cpp/pull/2699)
+* [Code health] Remove Unicode Text from Source files
+  [#2707](https://github.com/open-telemetry/opentelemetry-cpp/pull/2707)
 
 Important changes:
 
diff --git a/api/include/opentelemetry/version.h b/api/include/opentelemetry/version.h
index 6e8a24a2d4..e09c193659 100644
--- a/api/include/opentelemetry/version.h
+++ b/api/include/opentelemetry/version.h
@@ -10,9 +10,9 @@
 #  define OPENTELEMETRY_ABI_VERSION_NO 1
 #endif
 
-#define OPENTELEMETRY_VERSION "1.15.0"
+#define OPENTELEMETRY_VERSION "1.16.0"
 #define OPENTELEMETRY_VERSION_MAJOR 1
-#define OPENTELEMETRY_VERSION_MINOR 15
+#define OPENTELEMETRY_VERSION_MINOR 16
 #define OPENTELEMETRY_VERSION_PATCH 0
 
 #define OPENTELEMETRY_ABI_VERSION OPENTELEMETRY_STRINGIFY(OPENTELEMETRY_ABI_VERSION_NO)
diff --git a/docs/public/conf.py b/docs/public/conf.py
index 1747696a30..927e07751a 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 = "1.15.0"
+release = "1.16.0"
 
 # 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 f98c5c433f..bfc93238b4 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 "1.15.0"
+#define OPENTELEMETRY_SDK_VERSION "1.16.0"
 
 #include "opentelemetry/version.h"
 
diff --git a/sdk/src/version/version.cc b/sdk/src/version/version.cc
index 71d8db16e2..99e7db05fd 100644
--- a/sdk/src/version/version.cc
+++ b/sdk/src/version/version.cc
@@ -12,13 +12,13 @@ namespace sdk
 namespace version
 {
 const int major_version    = 1;
-const int minor_version    = 15;
+const int minor_version    = 16;
 const int patch_version    = 0;
 const char *pre_release    = "NONE";
 const char *build_metadata = "NONE";
-const char *short_version  = "1.15.0";
-const char *full_version   = "1.15.0-NONE-NONE";
-const char *build_date     = "Sun Apr 21 19:31:02 UTC 2024";
+const char *short_version  = "1.16.0";
+const char *full_version   = "1.16.0-NONE-NONE";
+const char *build_date     = "Thu Jun 20 19:40:52 UTC 2024";
 }  // namespace version
 }  // namespace sdk
 OPENTELEMETRY_END_NAMESPACE