diff --git a/zcash_proofs/CHANGELOG.md b/zcash_proofs/CHANGELOG.md
index 8e80daf707..339863d34c 100644
--- a/zcash_proofs/CHANGELOG.md
+++ b/zcash_proofs/CHANGELOG.md
@@ -6,6 +6,8 @@ and this library adheres to Rust's notion of
 [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
 ## [Unreleased]
+
+## [0.12.1] - 2023-06-28
 ### Changed
 - Replaced internal `directories` dependency which now transitively depends on
   MPL-licensed code.
diff --git a/zcash_proofs/Cargo.toml b/zcash_proofs/Cargo.toml
index 2e91476a54..e110ba490e 100644
--- a/zcash_proofs/Cargo.toml
+++ b/zcash_proofs/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "zcash_proofs"
 description = "Zcash zk-SNARK circuits and proving APIs"
-version = "0.12.0"
+version = "0.12.1"
 authors = [
     "Jack Grigg <jack@z.cash>",
 ]