diff --git a/CHANGELOG.md b/CHANGELOG.md
index 71044f8233..7fba56d1c2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,17 @@
 
 All notable changes to this project will be documented in this file.
 
+## [1.0.16] - 2023-07-11
+
+### 🚀 New Features and Enhancements
+
+- Display DAG in Markdown Preview editor [#4244](https://github.com/iterative/vscode-dvc/pull/4244) by [@mattseddon](https://github.com/mattseddon)
+
+### 🔨 Maintenance
+
+- Correct extension reference in snippet [#4245](https://github.com/iterative/vscode-dvc/pull/4245) by [@mattseddon](https://github.com/mattseddon)
+- Update demo project and latest tested CLI version (3.5.0) [#4251](https://github.com/iterative/vscode-dvc/pull/4251) by [@mattseddon](https://github.com/mattseddon)
+
 ## [1.0.15] - 2023-07-09
 
 ### 🚀 New Features and Enhancements
diff --git a/extension/package.json b/extension/package.json
index fe06c0f8d4..08ff01d613 100644
--- a/extension/package.json
+++ b/extension/package.json
@@ -9,7 +9,7 @@
   "extensionDependencies": [
     "vscode.git"
   ],
-  "version": "1.0.15",
+  "version": "1.0.16",
   "license": "Apache-2.0",
   "readme": "./README.md",
   "repository": {