diff --git a/CHANGELOG.md b/CHANGELOG.md
index 816bfdc5ed..b8010159e1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,14 @@
 # Changelog
 
+## v.0.3.5
+
+## What's Changed
+
+- 🐞 Fix inference for draem by @djdameln in <https://github.com/openvinotoolkit/anomalib/pull/470>
+- 🐞 🛠 Bug fix in the inferencer by @samet-akcay in <https://github.com/openvinotoolkit/anomalib/pull/475>
+
+**Full Changelog**: <https://github.com/openvinotoolkit/anomalib/compare/v0.3.4...v0.3.5>
+
 ## v.0.3.4
 
 ## What's Changed
diff --git a/anomalib/__init__.py b/anomalib/__init__.py
index fd27cd0ea7..f3389bf81a 100644
--- a/anomalib/__init__.py
+++ b/anomalib/__init__.py
@@ -14,4 +14,4 @@
 # See the License for the specific language governing permissions
 # and limitations under the License.
 
-__version__ = "0.3.4"
+__version__ = "0.3.5"