diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1277f8b92..ad35bd2d0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,43 @@
 # Change Log
 All notable changes to HiOp are documented in this file.
 
+## Version 0.7.2: Execution spaces abstractions and misc fixes
+This release hosts a series of comprehensive internal developments and software re-engineering to improve the portability and performance on accelerators/GPU platforms. No changes to the user interface permeated under this release.
+
+### Notable new features
+
+A new execution space abstraction is introduced to allow multiple hardware backends to run concurrently. The proposed design differentiates between "memory backend" and "execution policies" to allow using RAJA with Umpire-managed memory, RAJA with Cuda- or Hip-managed memory, RAJA with std memory, Cuda/Hip kernels with Cuda-/Hip- or Umpire-managed memory, etc.
+
+* Execution spaces: support for memory backends and execution policies by @cnpetra in https://github.com/LLNL/hiop/pull/543
+* Build: Cuda without raja  by @cnpetra in https://github.com/LLNL/hiop/pull/579
+* Update of RAJA-based dense matrix to support runtime execution spaces by @cnpetra in https://github.com/LLNL/hiop/pull/580
+* Reorganization of device namespace  by @cnpetra in https://github.com/LLNL/hiop/pull/582
+* RAJA Vector int with ExecSpace by @cnpetra in https://github.com/LLNL/hiop/pull/583
+* Instrumentation of host vectors with execution spaces by @cnpetra in https://github.com/LLNL/hiop/pull/584
+* Remove copy from/to device methods in vector classes by @cnpetra in https://github.com/LLNL/hiop/pull/587
+* Add support for Raja with OpenMP into LLNL CI by @nychiang in https://github.com/LLNL/hiop/pull/566
+ 
+New vector classes using vendor-provided API were introduced and documentation was updated/improved
+* Development of `hiopVectorCuda` by @nychiang in https://github.com/LLNL/hiop/pull/572
+* Implementation of `hiopVectorHip` by @nychiang in https://github.com/LLNL/hiop/pull/590
+* Update user manual by @nychiang in https://github.com/LLNL/hiop/pull/591
+* Update the code comments in `hiopVector` classes by @nychiang in https://github.com/LLNL/hiop/pull/592
+
+Refinement of triangular solver implementation for Ginkgo by @fritzgoebel in https://github.com/LLNL/hiop/pull/585
+
+### Bug fixes
+* Refine the computation in normal equation system by @nychiang in https://github.com/LLNL/hiop/pull/530
+* Fix static culibos issue #567 by @nychiang in https://github.com/LLNL/hiop/pull/568
+* Fix segfault, remove nonsymmetric ginkgo solver by @fritzgoebel in https://github.com/LLNL/hiop/pull/548
+* Calculate the inverse objective scale correctly. by @tepperly in https://github.com/LLNL/hiop/pull/570
+* Fix `hiopVectorRajaPar::copyToStartingAt_w_pattern` by @nychiang in https://github.com/LLNL/hiop/pull/569
+* Gitlab pipeline refactor by @CameronRutherford in https://github.com/LLNL/hiop/pull/597
+
+### New Contributors
+* @tepperly made their first contribution in https://github.com/LLNL/hiop/pull/570
+
+**Full Changelog**: https://github.com/LLNL/hiop/compare/v0.7.1...v0.7.2
+
 ## Version 0.7.1: Miscellaneous fixes to build system
 This minor release fixes a couple of issues found in the build system after the major release 0.7 of HiOp. 
 
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 60abafe74..f19177f9c 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@ if (POLICY CMP0074)
   cmake_policy(SET CMP0074 NEW)
 endif ()
 
-project (hiop VERSION "0.7.1")
+project (hiop VERSION "0.7.2")
 
 string(TIMESTAMP HIOP_RELEASE_DATE "%Y-%m-%d")