diff --git a/CHANGELOG.md b/CHANGELOG.md
index 81d1f22b8..e3b205702 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,17 @@
+## 0.7.0 / 2014-08-06
+[FEATURE] Added new functions: abs(), topk(), bottomk(), drop_common_labels().
+[FEATURE] Let console templates get graph links from expressions.
+[FEATURE] Allow console templates to dynamically include other templates.
+[FEATURE] Template consoles now have access to their URL.
+[BUGFIX] Fixed time() function to return evaluation time, not wallclock time.
+[BUGFIX] Fixed HTTP connection leak when targets returned a non-200 status.
+[BUGFIX] Fixed link to console templates in UI.
+[PERFORMANCE] Removed extra memory copies while scraping targets.
+[ENHANCEMENT] Switched from Go 1.2.1 to Go 1.3.
+[ENHANCEMENT] Made metrics exported by Prometheus itself more consistent.
+[ENHANCEMENT] Removed incremental backoffs for unhealthy targets.
+[ENHANCEMENT] Dockerfile also builds Prometheus support tools now.
+
 ## 0.6.0 / 2014-06-30
 [FEATURE] Added console and alert templates support, along with various template functions.
 [PERFORMANCE] Much faster and more memory-efficient flushing to disk.
diff --git a/VERSION b/VERSION
index a918a2aa1..faef31a43 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.6.0
+0.7.0