diff --git a/CHANGELOG.md b/CHANGELOG.md
index 85526998..5f745881 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,48 @@
 
 All notable changes to this project are documented in this file.
 
+## 1.29.0
+
+**Release date:** 2023-02-21
+
+This release comes with support for template variables for analysis metrics.
+A canary analysis metric can reference a set of custom variables with
+`.spec.analysis.metrics[].templateVariables`. For more info see the [docs](https://fluxcd.io/flagger/usage/metrics/#custom-metrics).
+Furthemore, a bug related to Canary releases with session affinity has been
+fixed.
+
+#### Improvements
+
+- update dependencies
+  [#1374](https://github.com/fluxcd/flagger/pull/1374)
+- build(deps): bump golang.org/x/net from 0.4.0 to 0.7.0
+  [#1373](https://github.com/fluxcd/flagger/pull/1373)
+- build(deps): bump fossa-contrib/fossa-action from 1 to 2
+  [#1372](https://github.com/fluxcd/flagger/pull/1372)
+- Allow custom affinities for flagger deployment in helm chart
+  [#1371](https://github.com/fluxcd/flagger/pull/1371)
+- Add namespace to namespaced resources in helm chart
+  [#1370](https://github.com/fluxcd/flagger/pull/1370)
+- build(deps): bump actions/cache from 3.2.4 to 3.2.5
+  [#1366](https://github.com/fluxcd/flagger/pull/1366)
+- build(deps): bump actions/cache from 3.2.3 to 3.2.4
+  [#1362](https://github.com/fluxcd/flagger/pull/1362)
+- build(deps): bump docker/build-push-action from 3 to 4
+  [#1361](https://github.com/fluxcd/flagger/pull/1361)
+- modify release workflow to publish rc images
+  [#1359](https://github.com/fluxcd/flagger/pull/1359)
+- build: Enable SBOM and SLSA Provenance
+  [#1356](https://github.com/fluxcd/flagger/pull/1356)
+- Add support for custom variables in metric templates
+  [#1355](https://github.com/fluxcd/flagger/pull/1355)
+- docs(readme.md): add additional tutorial
+  [#1346](https://github.com/fluxcd/flagger/pull/1346)
+
+#### Fixes
+
+- use regex to match against headers in istio
+  [#1364](https://github.com/fluxcd/flagger/pull/1364)
+
 ## 1.28.0
 
 **Release date:** 2023-01-26
diff --git a/artifacts/flagger/deployment.yaml b/artifacts/flagger/deployment.yaml
index 5a2b72e3..21ea1f49 100644
--- a/artifacts/flagger/deployment.yaml
+++ b/artifacts/flagger/deployment.yaml
@@ -22,7 +22,7 @@ spec:
       serviceAccountName: flagger
       containers:
       - name: flagger
-        image: ghcr.io/fluxcd/flagger:1.28.0
+        image: ghcr.io/fluxcd/flagger:1.29.0
         imagePullPolicy: IfNotPresent
         ports:
         - name: http
diff --git a/charts/flagger/Chart.yaml b/charts/flagger/Chart.yaml
index b072e2be..bc3b269a 100644
--- a/charts/flagger/Chart.yaml
+++ b/charts/flagger/Chart.yaml
@@ -1,7 +1,7 @@
 apiVersion: v1
 name: flagger
-version: 1.28.0
-appVersion: 1.28.0
+version: 1.29.0
+appVersion: 1.29.0
 kubeVersion: ">=1.19.0-0"
 engine: gotpl
 description: Flagger is a progressive delivery operator for Kubernetes
diff --git a/charts/flagger/values.yaml b/charts/flagger/values.yaml
index 1d8b3a2a..47da2c77 100644
--- a/charts/flagger/values.yaml
+++ b/charts/flagger/values.yaml
@@ -2,7 +2,7 @@
 
 image:
   repository: ghcr.io/fluxcd/flagger
-  tag: 1.28.0
+  tag: 1.29.0
   pullPolicy: IfNotPresent
   pullSecret:
 
diff --git a/kustomize/base/flagger/kustomization.yaml b/kustomize/base/flagger/kustomization.yaml
index 8c51e62c..2fe441c6 100644
--- a/kustomize/base/flagger/kustomization.yaml
+++ b/kustomize/base/flagger/kustomization.yaml
@@ -9,4 +9,4 @@ resources:
 images:
   - name: ghcr.io/fluxcd/flagger
     newName: ghcr.io/fluxcd/flagger
-    newTag: 1.28.0
+    newTag: 1.29.0
diff --git a/pkg/version/version.go b/pkg/version/version.go
index dbb82ee7..09cab99a 100644
--- a/pkg/version/version.go
+++ b/pkg/version/version.go
@@ -16,5 +16,5 @@ limitations under the License.
 
 package version
 
-var VERSION = "1.28.0"
+var VERSION = "1.29.0"
 var REVISION = "unknown"