diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1cba9a6a0a..0b4210335a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,9 +6,12 @@ The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
 ## \[Unreleased\]
+## 04/05/2023 - Release 1.2.1
 ### Bug fixes
 - Fix project level CVAT for images format import
   (<https://github.com/openvinotoolkit/datumaro/pull/980>)
+- Fix an info message when using the convert CLI command with no args.input_format
+  (<https://github.com/openvinotoolkit/datumaro/pull/982>)
 - Fix media contents not returning bytes in arrow format
   (<https://github.com/openvinotoolkit/datumaro/pull/986>)
 
diff --git a/datumaro/version.py b/datumaro/version.py
index c68196d1cb..a955fdae12 100644
--- a/datumaro/version.py
+++ b/datumaro/version.py
@@ -1 +1 @@
-__version__ = "1.2.0"
+__version__ = "1.2.1"
diff --git a/docs/source/docs/release_notes.rst b/docs/source/docs/release_notes.rst
index fa055dec21..3d945bdc4f 100644
--- a/docs/source/docs/release_notes.rst
+++ b/docs/source/docs/release_notes.rst
@@ -4,6 +4,15 @@ Release Notes
 .. toctree::
    :maxdepth: 1
 
+v1.2.1 (2023.05)
+----------------
+
+Bug fixes
+^^^^^^^^^
+- Fix project level CVAT for images format import
+- Fix an info message when using the convert CLI command with no args.input_format
+- Fix media contents not returning bytes in arrow format
+
 v1.2.0 (2023.04)
 ----------------