diff --git a/CHANGELOG.md b/CHANGELOG.md
index 70b11c931..eac4aec7e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,24 @@
 # Changelog
 
+## 0.34.2
+
+**Release date:** 2023-06-22
+
+This prerelease fixes a regression bug for long-running reconciliations introduced
+in v0.34.0.
+
+In addition, the controller release workflow was enhanced with SLSA level 3 generators.
+Starting with this version, provenance attestations are generated for
+the controller release assets and for the multi-arch container images.
+
+Fixes:
+- Fix HelmRelease reconciliation loop
+  [#703](https://github.com/fluxcd/helm-controller/pull/703)
+
+Improvements:
+- Add SLSA3 generators to release workflow
+  [#705](https://github.com/fluxcd/helm-controller/pull/705)
+
 ## 0.34.1
 
 **Release date:** 2023-06-01
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index e68e8b0b9..fcba4a707 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/helm-controller
     newName: fluxcd/helm-controller
-    newTag: v0.34.1
+    newTag: v0.34.2
diff --git a/go.mod b/go.mod
index e09e2bf13..392915ceb 100644
--- a/go.mod
+++ b/go.mod
@@ -5,7 +5,7 @@ go 1.18
 replace github.com/fluxcd/helm-controller/api => ./api
 
 require (
-	github.com/fluxcd/helm-controller/api v0.34.1
+	github.com/fluxcd/helm-controller/api v0.34.2
 	github.com/fluxcd/pkg/apis/acl v0.1.0
 	github.com/fluxcd/pkg/apis/event v0.5.0
 	github.com/fluxcd/pkg/apis/kustomize v1.1.0