diff --git a/CHANGELOG.md b/CHANGELOG.md
index f8b7b315b048..53d30a37ac5f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -9,6 +9,18 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Added
 
+### Changed
+
+### Fixed
+
+### Removed
+
+### Deprecated
+
+## [2.40.0] - 2023-07-29
+
+### Added
+
 - Add ability of ExtData to fill variables on MAPL "tile" grids.
 - Added print of regrid method during History initialization
 - Added ability to use an `ESMF.rc` file to pass in pre-`ESMF_Initialize` options to ESMF (see [ESMF Docs](https://earthsystemmodeling.org/docs/release/latest/ESMF_refdoc/node4.html#SECTION04024000000000000000) for allowed flags.
@@ -66,8 +78,6 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - Removed unneeded and confusing default in History Grid Comp (see #2081)
 - Fixes in CMake for fArgParse transition
 
-### Removed
-
 ### Deprecated
 
 - Deprecate the use of FLAP for command line parsing in favor of fArgParse. FLAP support will be removed in MAPL 3
diff --git a/CMakeLists.txt b/CMakeLists.txt
index c68f55f33091..77c5469864d7 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -8,7 +8,7 @@ endif ()
 
 project (
   MAPL
-  VERSION 2.39.7
+  VERSION 2.40.0
   LANGUAGES Fortran CXX C)  # Note - CXX is required for ESMF
 
 # Set the possible values of build type for cmake-gui