diff --git a/CMakeLists.txt b/CMakeLists.txt
index f47eb310..48c1fba9 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -3,7 +3,7 @@ cmake_minimum_required(VERSION 3.10.2 FATAL_ERROR)
 #============================================================================
 # Initialize the project
 #============================================================================
-project(ignition-common3 VERSION 3.17.0)
+project(ignition-common3 VERSION 3.17.1)
 
 #============================================================================
 # Find ignition-cmake
diff --git a/Changelog.md b/Changelog.md
index f9de00e1..dc5c1f23 100644
--- a/Changelog.md
+++ b/Changelog.md
@@ -1,5 +1,13 @@
 ## Gazebo Common 3.x
 
+### Gazebo Common 3.17.1 (2025-01-29)
+
+1. Fix deprecation warnings
+    * [Pull request #603](https://github.com/gazebosim/gz-common/pull/603)
+
+1. Fix compatibility with FFmpeg5.0
+    * [Pull request #581](https://github.com/gazebosim/gz-common/pull/581)
+
 ## Gazebo Common 3.17.0 (2024-01-05)
 
 1. Fix error output when creating directories