diff --git a/docs/releasenotes/12.0.0.rst b/docs/releasenotes/12.0.0.rst
new file mode 100644
index 000000000..68b664443
--- /dev/null
+++ b/docs/releasenotes/12.0.0.rst
@@ -0,0 +1,140 @@
+12.0.0
+------
+
+Security
+========
+
+TODO
+^^^^
+
+TODO
+
+:cve:`YYYY-XXXXX`: TODO
+^^^^^^^^^^^^^^^^^^^^^^^
+
+TODO
+
+Backwards incompatible changes
+==============================
+
+ImageFile.raise_oserror
+^^^^^^^^^^^^^^^^^^^^^^^
+
+``ImageFile.raise_oserror()`` has been removed. The function was undocumented and was
+only useful for translating error codes returned by a codec's ``decode()`` method,
+which ImageFile already did automatically.
+
+IptcImageFile helper functions
+^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+The functions ``IptcImageFile.dump`` and ``IptcImageFile.i``, and the constant
+``IptcImageFile.PAD`` have been removed. These were undocumented helper functions
+intended for internal use, so there is no replacement. They can each be replaced by a
+single line of code using builtin functions in Python.
+
+ImageCms constants and versions() function
+^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+A number of constants and a function in :py:mod:`.ImageCms` have been removed. This
+includes a table of flags based on LittleCMS version 1 which has been replaced with a
+new class :py:class:`.ImageCms.Flags` based on LittleCMS 2 flags.
+
+============================================  ====================================================
+Deprecated                                    Use instead
+============================================  ====================================================
+``ImageCms.DESCRIPTION``                      No replacement
+``ImageCms.VERSION``                          ``PIL.__version__``
+``ImageCms.FLAGS["MATRIXINPUT"]``             :py:attr:`.ImageCms.Flags.CLUT_POST_LINEARIZATION`
+``ImageCms.FLAGS["MATRIXOUTPUT"]``            :py:attr:`.ImageCms.Flags.FORCE_CLUT`
+``ImageCms.FLAGS["MATRIXONLY"]``              No replacement
+``ImageCms.FLAGS["NOWHITEONWHITEFIXUP"]``     :py:attr:`.ImageCms.Flags.NOWHITEONWHITEFIXUP`
+``ImageCms.FLAGS["NOPRELINEARIZATION"]``      :py:attr:`.ImageCms.Flags.CLUT_PRE_LINEARIZATION`
+``ImageCms.FLAGS["GUESSDEVICECLASS"]``        :py:attr:`.ImageCms.Flags.GUESSDEVICECLASS`
+``ImageCms.FLAGS["NOTCACHE"]``                :py:attr:`.ImageCms.Flags.NOCACHE`
+``ImageCms.FLAGS["NOTPRECALC"]``              :py:attr:`.ImageCms.Flags.NOOPTIMIZE`
+``ImageCms.FLAGS["NULLTRANSFORM"]``           :py:attr:`.ImageCms.Flags.NULLTRANSFORM`
+``ImageCms.FLAGS["HIGHRESPRECALC"]``          :py:attr:`.ImageCms.Flags.HIGHRESPRECALC`
+``ImageCms.FLAGS["LOWRESPRECALC"]``           :py:attr:`.ImageCms.Flags.LOWRESPRECALC`
+``ImageCms.FLAGS["GAMUTCHECK"]``              :py:attr:`.ImageCms.Flags.GAMUTCHECK`
+``ImageCms.FLAGS["WHITEBLACKCOMPENSATION"]``  :py:attr:`.ImageCms.Flags.BLACKPOINTCOMPENSATION`
+``ImageCms.FLAGS["BLACKPOINTCOMPENSATION"]``  :py:attr:`.ImageCms.Flags.BLACKPOINTCOMPENSATION`
+``ImageCms.FLAGS["SOFTPROOFING"]``            :py:attr:`.ImageCms.Flags.SOFTPROOFING`
+``ImageCms.FLAGS["PRESERVEBLACK"]``           :py:attr:`.ImageCms.Flags.NONEGATIVES`
+``ImageCms.FLAGS["NODEFAULTRESOURCEDEF"]``    :py:attr:`.ImageCms.Flags.NODEFAULTRESOURCEDEF`
+``ImageCms.FLAGS["GRIDPOINTS"]``              :py:attr:`.ImageCms.Flags.GRIDPOINTS()`
+``ImageCms.versions()``                       :py:func:`PIL.features.version_module` with
+                                              ``feature="littlecms2"``, :py:data:`sys.version` or
+                                              :py:data:`sys.version_info`, and ``PIL.__version__``
+============================================  ====================================================
+
+ImageMath eval()
+^^^^^^^^^^^^^^^^
+
+``ImageMath.eval()`` has been removed. Use :py:meth:`~PIL.ImageMath.lambda_eval` or
+:py:meth:`~PIL.ImageMath.unsafe_eval` instead.
+
+BGR;15, BGR 16 and BGR;24
+^^^^^^^^^^^^^^^^^^^^^^^^^
+
+The experimental BGR;15, BGR;16 and BGR;24 modes have been removed.
+
+Non-image modes in ImageCms
+^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+The use in :py:mod:`.ImageCms` of input modes and output modes that are not Pillow
+image modes has been removed. Defaulting to "L" or "1" if the mode cannot be mapped has
+also been removed.
+
+Support for LibTIFF earlier than 4
+^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+Support for LibTIFF earlier than version 4 has been removed.
+Upgrade to a newer version of LibTIFF instead.
+
+ImageDraw.getdraw hints parameter
+^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+The ``hints`` parameter in :py:meth:`~PIL.ImageDraw.getdraw()` has been removed.
+
+FreeType 2.9.0
+^^^^^^^^^^^^^^
+
+Support for FreeType 2.9.0 has been removed. FreeType 2.9.1 is the minimum version
+supported.
+
+We recommend upgrading to at least FreeType `2.10.4`_, which fixed a severe
+vulnerability introduced in FreeType 2.6 (:cve:`2020-15999`).
+
+.. _2.10.4: https://sourceforge.net/projects/freetype/files/freetype2/2.10.4/
+
+Deprecations
+============
+
+TODO
+^^^^
+
+TODO
+
+API changes
+===========
+
+TODO
+^^^^
+
+TODO
+
+API additions
+=============
+
+TODO
+^^^^
+
+TODO
+
+Other changes
+=============
+
+TODO
+^^^^
+
+TODO
diff --git a/docs/releasenotes/index.rst b/docs/releasenotes/index.rst
index a85f1e075..f66240c89 100644
--- a/docs/releasenotes/index.rst
+++ b/docs/releasenotes/index.rst
@@ -14,6 +14,7 @@ expected to be backported to earlier versions.
 .. toctree::
   :maxdepth: 2
 
+  12.0.0
   11.3.0
   11.2.1
   11.1.0
diff --git a/docs/releasenotes/template.rst b/docs/releasenotes/template.rst
index a453d2a43..b603a9938 100644
--- a/docs/releasenotes/template.rst
+++ b/docs/releasenotes/template.rst
@@ -20,6 +20,8 @@ Backwards incompatible changes
 TODO
 ^^^^
 
+TODO
+
 Deprecations
 ============