diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2def6b93..64bc18e0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Overcommit Changelog
 
-## master (unreleased)
+## 0.48.0
 
 * Drop support for Ruby 2.3 or older
 * Support multi-line matches in `MessageFormat` `commit-msg` hook
diff --git a/lib/overcommit/version.rb b/lib/overcommit/version.rb
index a0c6b11f..7b060d0c 100644
--- a/lib/overcommit/version.rb
+++ b/lib/overcommit/version.rb
@@ -2,5 +2,5 @@
 
 # Defines the gem version.
 module Overcommit
-  VERSION = '0.47.0'
+  VERSION = '0.48.0'
 end