diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2ec6b1d9..d7675d29 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,31 @@
 # Changelog
 
+## v0.27.1
+
+*December 15th, 2018*
+
+Special thanks to external contributors on this release:
+@danil-lashin, @hleb-albau, @james-ray, @leo-xinwang
+
+### FEATURES:
+- [rpc] [\#2964](https://github.com/tendermint/tendermint/issues/2964) Add `UnconfirmedTxs(limit)` and `NumUnconfirmedTxs()` methods to HTTP/Local clients (@danil-lashin)
+- [docs] [\#3004](https://github.com/tendermint/tendermint/issues/3004) Enable full-text search on docs pages
+
+### IMPROVEMENTS:
+- [consensus] [\#2971](https://github.com/tendermint/tendermint/issues/2971) Return error if ValidatorSet is empty after InitChain
+  (@leo-xinwang)
+- [ci/cd] [\#3005](https://github.com/tendermint/tendermint/issues/3005) Updated CircleCI job to trigger website build when docs are updated
+- [docs] Various updates
+
+### BUG FIXES:
+- [cmd] [\#2983](https://github.com/tendermint/tendermint/issues/2983) `testnet` command always sets `addr_book_strict = false`
+- [config] [\#2980](https://github.com/tendermint/tendermint/issues/2980) Fix CORS options formatting
+- [kv indexer] [\#2912](https://github.com/tendermint/tendermint/issues/2912) Don't ignore key when executing CONTAINS
+- [mempool] [\#2961](https://github.com/tendermint/tendermint/issues/2961) Call `notifyTxsAvailable` if there're txs left after committing a block, but recheck=false
+- [mempool] [\#2994](https://github.com/tendermint/tendermint/issues/2994) Reject txs with negative GasWanted
+- [p2p] [\#2990](https://github.com/tendermint/tendermint/issues/2990) Fix a bug where seeds don't disconnect from a peer after 3h
+- [consensus] [\#3006](https://github.com/tendermint/tendermint/issues/3006) Save state after InitChain only when stateHeight is also 0 (@james-ray)
+
 ## v0.27.0
 
 *December 5th, 2018*
diff --git a/CHANGELOG_PENDING.md b/CHANGELOG_PENDING.md
index 9854bce5..e9a1d52f 100644
--- a/CHANGELOG_PENDING.md
+++ b/CHANGELOG_PENDING.md
@@ -1,4 +1,4 @@
-## v0.27.1
+## v0.27.2
 
 *TBD*
 
@@ -19,13 +19,5 @@ Special thanks to external contributors on this release:
 ### FEATURES:
 
 ### IMPROVEMENTS:
-- [rpc] Add `UnconfirmedTxs(limit)` and `NumUnconfirmedTxs()` methods to HTTP/Local clients (@danil-lashin)
-- [ci/cd] Updated CircleCI job to trigger website build when docs are updated
 
 ### BUG FIXES:
-- [config] \#2980 fix cors options formatting
-- [kv indexer] \#2912 don't ignore key when executing CONTAINS
-- [mempool] \#2961 notifyTxsAvailable if there're txs left after committing a block, but recheck=false
-- [mempool] \#2994 Don't allow txs with negative gas wanted
-- [p2p] \#2715 fix a bug where seeds don't disconnect from a peer after 3h
-- [replay] \#3006 saveState only when stateHeight is also 0
diff --git a/version/version.go b/version/version.go
index 921e1430..3c1e2f31 100644
--- a/version/version.go
+++ b/version/version.go
@@ -18,7 +18,7 @@ const (
 	// TMCoreSemVer is the current version of Tendermint Core.
 	// It's the Semantic Version of the software.
 	// Must be a string because scripts like dist.sh read this file.
-	TMCoreSemVer = "0.27.0"
+	TMCoreSemVer = "0.27.1"
 
 	// ABCISemVer is the semantic version of the ABCI library
 	ABCISemVer  = "0.15.0"