diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9ac107a0b..52ba005f0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,15 @@
+# 0.3.16 - 2020-12-16
+
+## Added
+- Support PEP-604 style unions in decorator annotations [#429](https://github.com/Instagram/LibCST/pull/429)
+- Gathering exports in augmented assignment statements [#426](https://github.com/Instagram/LibCST/pull/426)
+
+## Fixed
+- Don't allow out of order accesses in the global scope [#431](https://github.com/Instagram/LibCST/pull/431)
+- Handle scope ordering in For statements [#430](https://github.com/Instagram/LibCST/pull/430)
+- Fix for not parsing subscripts such as `cast()["from"]` [#428](https://github.com/Instagram/LibCST/pull/428)
+- Walrus operator's left hand side now has STORE expression context [#433](https://github.com/Instagram/LibCST/pull/433)
+
 # 0.3.15 - 2020-12-01
 
 ## Added
diff --git a/libcst/_version.py b/libcst/_version.py
index 087521529..7f61e7b8c 100644
--- a/libcst/_version.py
+++ b/libcst/_version.py
@@ -4,4 +4,4 @@
 # LICENSE file in the root directory of this source tree.
 
 
-LIBCST_VERSION: str = "0.3.15"
+LIBCST_VERSION: str = "0.3.16"