diff --git a/docs/topics/release-notes.md b/docs/topics/release-notes.md
index 9879c4665..a45dddc7a 100644
--- a/docs/topics/release-notes.md
+++ b/docs/topics/release-notes.md
@@ -40,6 +40,15 @@ You can determine your currently installed version using `pip freeze`:
 
 ## 2.4.x series
 
+### 2.4.7
+
+**Date**: [18 August 2015](https://github.com/tomchristie/django-rest-framework/issues?q=milestone%3A%222.4.7+Release%22+)
+
+* Upgrade guardian support to 1.3
+
+
+### 2.4.6
+
 ### 2.4.5
 
 **Date**: 24 March 2015
diff --git a/rest_framework/__init__.py b/rest_framework/__init__.py
index 077bfb4cb..d12848268 100644
--- a/rest_framework/__init__.py
+++ b/rest_framework/__init__.py
@@ -8,7 +8,7 @@ ______ _____ _____ _____    __
 """
 
 __title__ = 'Django REST framework'
-__version__ = '2.4.6'
+__version__ = '2.4.7'
 __author__ = 'Tom Christie'
 __license__ = 'BSD 2-Clause'
 __copyright__ = 'Copyright 2011-2014 Tom Christie'