diff --git a/ReText/__init__.py b/ReText/__init__.py
index 7ba0b53a..ee2c82d7 100644
--- a/ReText/__init__.py
+++ b/ReText/__init__.py
@@ -24,7 +24,7 @@
 from PyQt5.QtCore import QByteArray, QLocale, QSettings, QStandardPaths
 from PyQt5.QtGui import QFont
 
-app_version = "7.0.0"
+app_version = "7.0.1"
 
 settings = QSettings('ReText project', 'ReText')
 
diff --git a/changelog.md b/changelog.md
index 06610d8d..0616bb35 100644
--- a/changelog.md
+++ b/changelog.md
@@ -22,6 +22,9 @@
 * A configuration option for hiding the tabs bar when there is only one tab
   was added.
 
+*Bugfix update 7.0.1 was released on 2017-06-25 with improved installation
+procedure in setup.py, some crash fixes, and updated translations.*
+
 ## ReText 6.0 (2016-05-10)
 
 * The live preview now automatically scrolls to match its position with the
diff --git a/setup.py b/setup.py
index b5fd51f1..f065e42a 100755
--- a/setup.py
+++ b/setup.py
@@ -1,6 +1,6 @@
 #!/usr/bin/env python3
 
-VERSION = '7.0.0'
+VERSION = '7.0.1'
 
 long_description = '''\
 ReText is simple text editor that supports Markdown and reStructuredText