diff --git a/docs/community/release-notes.md b/docs/community/release-notes.md
index baeeaf874..3de64f185 100644
--- a/docs/community/release-notes.md
+++ b/docs/community/release-notes.md
@@ -36,6 +36,18 @@ You can determine your currently installed version using `pip show`:
 
 ## 3.12.x series
 
+### 3.12.5
+
+Date: ...
+
+* Django 4.0 compatability. [#8178]
+* Add `max_length` and `min_length` options to `ListSerializer`. [#8165]
+* Add `get_request_serializer` and `get_response_serializer` hooks to `AutoSchema`. [#7424]
+* Fix OpenAPI representation of null-able read only fields. [#8116]
+* Respect `UNICODE_JSON` setting in API schema outputs. [#7991]
+* Fix for `RemoteUserAuthentication`. [#7158]
+* Make Field constructors keyword-only. [#7632]
+
 ### 3.12.4
 
 Date: 26th March 2021
diff --git a/rest_framework/__init__.py b/rest_framework/__init__.py
index 0c75d3617..78a650f7d 100644
--- a/rest_framework/__init__.py
+++ b/rest_framework/__init__.py
@@ -10,7 +10,7 @@ ______ _____ _____ _____    __
 import django
 
 __title__ = 'Django REST framework'
-__version__ = '3.12.4'
+__version__ = '3.12.5'
 __author__ = 'Tom Christie'
 __license__ = 'BSD 3-Clause'
 __copyright__ = 'Copyright 2011-2019 Encode OSS Ltd'