diff --git a/cmd/version.go b/cmd/version.go
index 3480f6e5..ab1d9f5d 100644
--- a/cmd/version.go
+++ b/cmd/version.go
@@ -11,7 +11,7 @@ var (
 	GitDescribe string
 
 	// Version is main version number that is being run at the moment.
-	Version = "4.16.1"
+	Version = "4.16.2"
 
 	// VersionPrerelease is a pre-release marker for the version. If this is "" (empty string)
 	// then it means that it is a final release. Otherwise, this is a pre-release
diff --git a/release_notes.txt b/release_notes.txt
index 367538af..e776d04a 100644
--- a/release_notes.txt
+++ b/release_notes.txt
@@ -1,3 +1,9 @@
+4.16.2:
+  - Bumped go-lang compiler to fix CVE-2021-44717 (#1037)
+  - Dependency version bumps via dependabot
+  - Added extract-checksum.sh to make it easier to validate checksums (#1011)
+  - Report filename on parsing error (#1030)
+
 4.16.1:
   - Added csv, tsv output formats
   - Added map, map_values operators
diff --git a/snap/snapcraft.yaml b/snap/snapcraft.yaml
index 868d81f7..b435e417 100644
--- a/snap/snapcraft.yaml
+++ b/snap/snapcraft.yaml
@@ -1,5 +1,5 @@
 name: yq
-version: '4.16.1'
+version: '4.16.2'
 summary: A lightweight and portable command-line YAML processor
 description: |
   The aim of the project is to be the jq or sed of yaml files.