diff --git a/CHANGELOG.md b/CHANGELOG.md
index 66cc853c3..dc2337b65 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,11 @@
 # CHANGELOG
 
+## 3.5.3 (2024-08-23)
+
+### Library changes
+
+* Backport GC fix PR ([#1977](https://github.com/ruby/rbs/pull/1977))
+
 ## 3.5.2 (2024-07-10)
 
 ### Library changes
diff --git a/Gemfile.lock b/Gemfile.lock
index ee32b9a21..6baa3f717 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,7 +1,7 @@
 PATH
   remote: .
   specs:
-    rbs (3.5.2)
+    rbs (3.5.3)
       logger
 
 PATH
diff --git a/lib/rbs/version.rb b/lib/rbs/version.rb
index 5275025f7..f40096c03 100644
--- a/lib/rbs/version.rb
+++ b/lib/rbs/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module RBS
-  VERSION = "3.5.2"
+  VERSION = "3.5.3"
 end