diff --git a/docs/community/release-notes.md b/docs/community/release-notes.md
index 5742e9469..6dff3b45e 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`:
 
 ---
 
+## 3.16.x series
+
+### 3.16.0
+
+**Date**: 28th March 2024
+
+A maintenance release primarily updating supported Python and Django versions.
+
+* Adds support for Django 5.1 and the upcoming Django 5.2 LTS [#9514](https://github.com/encode/django-rest-framework/issues/9514) [#9634](https://github.com/encode/django-rest-framework/issues/9634)
+* Adds support for Python 3.13. [#9527](https://github.com/encode/django-rest-framework/issues/9527)
+* Drops Python 3.8 as EOL [#9670](https://github.com/encode/django-rest-framework/pull/9670)
+
 ## 3.15.x series
 
 ### 3.15.2
diff --git a/rest_framework/__init__.py b/rest_framework/__init__.py
index e33bfa99d..692ce9cb1 100644
--- a/rest_framework/__init__.py
+++ b/rest_framework/__init__.py
@@ -8,7 +8,7 @@ ______ _____ _____ _____    __
 """
 
 __title__ = 'Django REST framework'
-__version__ = '3.15.2'
+__version__ = '3.16.0'
 __author__ = 'Tom Christie'
 __license__ = 'BSD 3-Clause'
 __copyright__ = 'Copyright 2011-2023 Encode OSS Ltd'