diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 599ef3b8d..ba2dd74ab 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -1,6 +1,57 @@
 Changelog
 =========
 
+1.7.0 (2024-10-04)
+------------------
+
+New Features
+
+* Introduction of experimental support to run dbt BQ models using Airflow deferrable operators by @pankajkoti @pankajastro @tatiana in #1224 #1230.
+  This is a first step in this journey and we would really appreciate feedback from the community.
+
+  For more information, check the documentation: https://astronomer.github.io/astronomer-cosmos/getting_started/execution-modes.html#airflow-async-experimental
+
+  This work has been inspired by the talk "Airflow at Monzo: Evolving our data platform as the bank scales" by
+  @jonathanrainer @ed-sparkes given at Airflow Summit 2023: https://airflowsummit.org/sessions/2023/airflow-at-monzo-evolving-our-data-platform-as-the-bank-scales/.
+
+* Support using ``DatasetAlias`` and fix orphaning unreferenced dataset by @tatiana in #1217 #1240
+
+  Documentation: https://astronomer.github.io/astronomer-cosmos/configuration/scheduling.html#data-aware-scheduling
+
+* Add GCP_CLOUD_RUN_JOB execution mode by @ags-de #1153
+
+  Learn more about it: https://astronomer.github.io/astronomer-cosmos/getting_started/gcp-cloud-run-job.html
+
+Enhancements
+
+* Create single virtualenv when ``DbtVirtualenvBaseOperator`` has ``virtualenv_dir=None`` and ``is_virtualenv_dir_temporary=True`` by @kesompochy in #1200
+* Consistently handle build and imports in ``cosmos/__init__.py`` by @tatiana in #1215
+* Add enum constants to init for direct import by @fabiomx in #1184
+
+Bug fixes
+
+* URL encode dataset names to support multibyte characters by @t0momi219 in #1198
+* Fix invalid argument (``full_refresh``) passed to DbtTestAwsEksOperator (and others) by @johnhoran in #1175
+* Fix ``printer_width`` arg type in ``DbtProfileConfigVars`` by @jessicaschueler in #1191
+* Fix task owner fallback by @jmaicher in #1195
+
+Docs
+
+* Add scarf to readme and docs for website analytics by @cmarteepants in #1221
+* Add ``virtualenv_dir`` param to ``ExecutionConfig`` docs by @pankajkoti in #1173
+* Give credits to @LennartKloppenburg in CHANGELOG.rst by @tatiana #1174
+* Refactor docs for async mode execution by @pankajkoti in #1241
+
+Others
+
+* Remove PR branch added for testing a change in CI in #1224 by @pankajkoti in #1233
+* Fix CI wrt broken coverage upload artifact @pankajkoti in #1210
+* Fix CI issues - Upgrade actions/upload-artifact & actions/download-artifact to v4 and set min version for packaging by @pankajkoti in #1208
+* Resolve CI failures for Apache Airflow 2.7 jobs by @pankajkoti in #1182
+* CI: Update GCP manifest file path based on new secret update by @pankajkoti in #1237
+* Pre-commit hook updates in #1176 #1186, #1186, #1201, #1219, #1231
+
+
 1.6.0 (2024-08-20)
 --------------------
 
diff --git a/cosmos/__init__.py b/cosmos/__init__.py
index ad4c9ee35..b55e13dff 100644
--- a/cosmos/__init__.py
+++ b/cosmos/__init__.py
@@ -6,7 +6,7 @@
 Contains dags, task groups, and operators.
 """
 
-__version__ = "1.7.0a1"
+__version__ = "1.7.0"
 
 
 from cosmos.airflow.dag import DbtDag