diff --git a/CHANGELOG.md b/CHANGELOG.md
index 692b7f7b..15ccf9e0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,12 @@
 
 ## Unreleased
 
+## 1.5.0
+
+- Require Active Record 7+
+- Require Ruby 3+
+- Improve compatibility with Active Record 7.1.
+
 ## 1.4.1
 
 ### Fixes
diff --git a/lib/identity_cache/version.rb b/lib/identity_cache/version.rb
index 27b63f5b..964f34fa 100644
--- a/lib/identity_cache/version.rb
+++ b/lib/identity_cache/version.rb
@@ -1,6 +1,6 @@
 # frozen_string_literal: true
 
 module IdentityCache
-  VERSION = "1.4.1"
+  VERSION = "1.5.0"
   CACHE_VERSION = 8
 end