diff --git a/CHANGELOG.md b/CHANGELOG.md
index 52499a95e..e87c2d62b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+## 2.33.0-rc.1 / 2022-01-19
+
+* [ENHANCEMENT] UI: Debounce search bar. #10157
+* [BUGFIX] TSDB: Fix deadlock from simultaneous GC and write. #10166
+* [BUGFIX] TSDB: Fix minor issues introduced in #10051. #10159
+
 ## 2.33.0-rc.0 / 2022-01-12
 
 * [CHANGE] PromQL: Promote negative offset and `@` modifer to stable features. #10121
diff --git a/VERSION b/VERSION
index 621829e5c..4ae0446d4 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2.33.0-rc.0
+2.33.0-rc.1