diff --git a/README.md b/README.md
index 5fc772ff1d..bd93a2688b 100644
--- a/README.md
+++ b/README.md
@@ -80,14 +80,14 @@ Major features:
 
 ## What's New
 
-v0.7.0 was released on 2023-03-16.
+v0.7.1 was released on 2023-04-03.
 
 Highlights:
 
-- Support PyTorch 2.0! Accelerate training by compiling models. See the tutorial [Model Compilation](https://mmengine.readthedocs.io/en/latest/common_usage/speed_up_training.html#model-compilation) for details
-- Add `EarlyStoppingHook` to stop training when the metric does not improve
+- Support compiling the model and enabling mixed-precision training at the same time.
+- Fix the bug where the logs cannot be properly saved to the log file after calling `torch.compile`
 
-Read [Changelog](./docs/en/notes/changelog.md#v070-03162023) for more details.
+Read [Changelog](./docs/en/notes/changelog.md#v071-04032023) for more details.
 
 ## Installation
 
diff --git a/README_zh-CN.md b/README_zh-CN.md
index cbbe1fc72b..6fe564376c 100644
--- a/README_zh-CN.md
+++ b/README_zh-CN.md
@@ -80,14 +80,14 @@ MMEngine 是一个基于 PyTorch 实现的，用于训练深度学习模型的
 
 ## 最近进展
 
-最新版本 v0.7.0 在 2023.03.16 发布。
+最新版本 v0.7.1 在 2023.04.03 发布。
 
 亮点：
 
-- 支持 PyTorch 2.0！通过编译模型实现训练加速，参考[编译模型文档](https://mmengine.readthedocs.io/en/latest/common_usage/speed_up_training.html#model-compilation)抢先体验
-- 新增 `EarlyStoppingHook`，当监控的指标不再提升时，自动停止训练
+- 支持在编译模型的同时开启混合精度训练
+- 修复调用 `torch.compile` 后，日志无法被正确保存到日志文件的问题
 
-如果想了解更多版本更新细节和历史信息，请阅读[更新日志](./docs/en/notes/changelog.md#v070-03162023)
+如果想了解更多版本更新细节和历史信息，请阅读[更新日志](./docs/en/notes/changelog.md#v071-04032023)
 
 ## 安装
 
diff --git a/docs/en/notes/changelog.md b/docs/en/notes/changelog.md
index 44c0006057..421b4e53a8 100644
--- a/docs/en/notes/changelog.md
+++ b/docs/en/notes/changelog.md
@@ -1,5 +1,34 @@
 # Changelog of v0.x
 
+## v0.7.1 (04/03/2023)
+
+### Highlights
+
+- Support compiling the model and enabling mixed-precision training at the same time
+- Fix the bug where the logs cannot be properly saved to the log file after calling `torch.compile`
+
+### New Features & Enhancements
+
+- Add `mmpretrain` to the `MODULE2PACKAGE`. by [@mzr1996](https://github.com/mzr1996) in https://github.com/open-mmlab/mmengine/pull/1002
+- Support using `get_device` in the compiled model by [@C1rN09](https://github.com/C1rN09) in https://github.com/open-mmlab/mmengine/pull/1004
+- Make sure the FileHandler still alive after `torch.compile` by [@HAOCHENYE](https://github.com/HAOCHENYE) in https://github.com/open-mmlab/mmengine/pull/1021
+- Unify the use of `print_log` and `logger.info(warning)` by [@LEFTeyex](https://github.com/LEFTeyex) in https://github.com/open-mmlab/mmengine/pull/997
+- Publish models after training if published_keys is set in CheckpointHook by [@KerwinKai](https://github.com/KerwinKai) in https://github.com/open-mmlab/mmengine/pull/987
+- Enhance the error catching in registry by [@HAOCHENYE](https://github.com/HAOCHENYE) in https://github.com/open-mmlab/mmengine/pull/1010
+- Do not print config if it is empty by [@zhouzaida](https://github.com/zhouzaida) in https://github.com/open-mmlab/mmengine/pull/1028
+
+### Bug fixes
+
+- Fix there is no space between `data_time` and metric in logs by [@HAOCHENYE](https://github.com/HAOCHENYE) in https://github.com/open-mmlab/mmengine/pull/1025
+
+### Docs
+
+- Minor fixes in EN docs to remove or replace unicode chars with ascii by [@evdcush](https://github.com/evdcush) in https://github.com/open-mmlab/mmengine/pull/1018
+
+### Contributors
+
+A total of 7 developers contributed to this release. Thanks [@LEFTeyex](https://github.com/LEFTeyex), [@KerwinKai](https://github.com/KerwinKai), [@mzr1996](https://github.com/mzr1996), [@evdcush](https://github.com/evdcush), [@C1rN09](https://github.com/C1rN09), [@HAOCHENYE](https://github.com/HAOCHENYE), [@zhouzaida](https://github.com/zhouzaida)
+
 ## v0.7.0 (03/16/2023)
 
 ### Highlights
diff --git a/mmengine/version.py b/mmengine/version.py
index 9edb382144..bd48957b78 100644
--- a/mmengine/version.py
+++ b/mmengine/version.py
@@ -1,6 +1,6 @@
 # Copyright (c) OpenMMLab. All rights reserved.
 
-__version__ = '0.7.0'
+__version__ = '0.7.1'
 
 
 def parse_version_info(version_str):