diff --git a/VERSION b/VERSION
index 39c21135f5..2302e306cd 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v0.38.2
+v0.39.0
diff --git a/docs/releases/v0.39.0.md b/docs/releases/v0.39.0.md
new file mode 100644
index 0000000000..42d6d4135b
--- /dev/null
+++ b/docs/releases/v0.39.0.md
@@ -0,0 +1,12 @@
+# Changelog
+
+## [v0.39.0](https://github.com/aws-observability/aws-otel-collector/tree/v0.39.0) (2024-04-30)
+
+[Full Changelog](https://github.com/aws-observability/aws-otel-collector/compare/v0.37.3...v0.39.0)
+
+**Merged pull requests:**
+
+- Bump OTel collector to `v0.98.0` [\#2724](https://github.com/aws-observability/aws-otel-collector/pull/2724) ([vasireddy99](https://github.com/vasireddy99))
+
+
+\* *This Changelog was automatically generated by [github_changelog_generator](https://github.com/github-changelog-generator/github-changelog-generator)*
diff --git a/tools/packaging/windows/aws-otel-collector.wxs b/tools/packaging/windows/aws-otel-collector.wxs
index 5384870692..884067eab6 100644
--- a/tools/packaging/windows/aws-otel-collector.wxs
+++ b/tools/packaging/windows/aws-otel-collector.wxs
@@ -3,7 +3,7 @@
     <Product Id="EBBD8548-75D1-41D3-A402-ABE189F0C167"
 UpgradeCode="B7C263DD-95A5-436A-A025-DCA5200C2BE3"
 Name="ADOT Collector"
-Version="0.38.2"
+Version="0.39.0"
 Codepage='1252'
 Manufacturer="Amazon.com, Inc."
 Language="1033">