diff --git a/CHANGELOG.md b/CHANGELOG.md
index 51e7b0a45c9..396e9e648ab 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,23 @@
 # Smithy Changelog
 
+## 1.34.0 (2023-07-10)
+
+### Features
+
+* Added a default template for the `smithy init` command, making specifying templates optional ([#1843](https://github.com/awslabs/smithy/pull/1843))
+* Updated the model loader to skip unrecognized non-Smithy JSON files ([#1846](https://github.com/awslabs/smithy/pull/1846))
+
+### Bug Fixes
+
+* Fixed basic HTTP authentication when resolving dependencies in the Smithy CLI ([#1838](https://github.com/awslabs/smithy/pull/1838))
+* Fixed a bug when deduping `ChangedNullability` events ([#1839](https://github.com/awslabs/smithy/pull/1839))
+
+### Documentation
+
+* Replaced implementation docs with the awesome-smithy repository ([#1845](https://github.com/awslabs/smithy/pull/1845))
+* Removed support for fractional seconds from the `http-date` timestamp format ([#1847](https://github.com/awslabs/smithy/pull/1847))
+* Rephrased optional fractional precision and no UTC offset support for the `date-time` timestamp format ([#1835](https://github.com/awslabs/smithy/pull/1835))
+
 ## 1.33.0 (2023-06-21)
 
 ### Features
diff --git a/VERSION b/VERSION
index 7aa332e4163..2b17ffd5042 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.33.0
+1.34.0