diff --git a/CMakeLists.txt b/CMakeLists.txt
index 199b4031..dbf83957 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -3,7 +3,7 @@ cmake_minimum_required(VERSION 3.10.2 FATAL_ERROR)
 #============================================================================
 # Initialize the project
 #============================================================================
-project(gz-common5 VERSION 5.5.0)
+project(gz-common5 VERSION 5.5.1)
 set(GZ_COMMON_VER ${PROJECT_VERSION_MAJOR})
 
 #============================================================================
diff --git a/Changelog.md b/Changelog.md
index 0234f1e7..e6a90cae 100644
--- a/Changelog.md
+++ b/Changelog.md
@@ -1,5 +1,16 @@
 ## Gazebo Common 5.x
 
+## Gazebo Common 5.5.1 (2024-03-14)
+
+1. Various Bazel adjustments for linting
+    * [Pull request #582](https://github.com/gazebosim/gz-common/pull/582)
+
+1. Extend AssimpLoader to parse material transmission factor
+    * [Pull request #577](https://github.com/gazebosim/gz-common/pull/577)
+
+1. Fix noise issue that appears in certain image textures
+    * [Pull request #578](https://github.com/gazebosim/gz-common/pull/578)
+
 ## Gazebo Common 5.5.0 (2024-02-26)
 
 1. Be louder when graphics is missing for geospatial