diff --git a/CHANGELOG.md b/CHANGELOG.md
index 749c5c473..677840403 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -3,6 +3,11 @@ All enhancements and patches to Cookiecutter Django will be documented in this f
 
 <!-- GENERATOR_PLACEHOLDER -->
 
+## 2023.01.02
+
+### Updated
+- Bug #12345 Update pillow to 9.4.0 ([#72](https://github.com/packershift/cookiecutter-django-quickstart/pull/72))
+
 ## 2022.12.31
 
 ### Updated
diff --git a/setup.py b/setup.py
index 5594057da..70ffd55cf 100644
--- a/setup.py
+++ b/setup.py
@@ -5,7 +5,7 @@ except ImportError:
     from distutils.core import setup
 
 # We use calendar versioning
-version = "2022.12.31"
+version = "2023.01.02"
 
 with open("README.rst") as readme_file:
     long_description = readme_file.read()