diff --git a/Makefile b/Makefile
index dae26bbee..53eaa0566 100644
--- a/Makefile
+++ b/Makefile
@@ -76,6 +76,7 @@ install-req:
 
 .PHONY: install-venv
 install-venv:
+	echo "'install-venv' is deprecated and will be removed in a future Pillow release"
 	virtualenv .
 	bin/pip install -r requirements.txt
 
diff --git a/docs/releasenotes/8.1.0.rst b/docs/releasenotes/8.1.0.rst
index 37571d731..da5f95405 100644
--- a/docs/releasenotes/8.1.0.rst
+++ b/docs/releasenotes/8.1.0.rst
@@ -15,6 +15,11 @@ vulnerability introduced in FreeType 2.6 (:cve:`CVE-2020-15999`).
 
 .. _2.10.4: https://sourceforge.net/projects/freetype/files/freetype2/2.10.4/
 
+Makefile
+^^^^^^^^
+
+The 'install-venv' target has been deprecated.
+
 API Changes
 ===========
 
@@ -51,6 +56,11 @@ security fixes.
 Other Changes
 =============
 
+Makefile
+^^^^^^^^
+
+The 'co' target has been removed.
+
 PyPy wheels
 ^^^^^^^^^^^