diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2199d378f6..650c36aada 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,28 @@
 Changes by Version
 ==================
+0.64.1
+------------------
+### 🚀 New components 🚀
+* add headless label ([#1088](https://github.com/open-telemetry/opentelemetry-operator/pull/1088), [@kristinapathak](https://github.com/kristinapathak))
+* Add new selector for pod and service monitor ([#1256](https://github.com/open-telemetry/opentelemetry-operator/pull/1256), [@jaronoff97](https://github.com/jaronoff97))
+* [target-allocator] Add a pre-hook to the allocator to filter out dropped targets ([#1127](https://github.com/open-telemetry/opentelemetry-operator/pull/1127), [@moh-osman3](https://github.com/moh-osman3))
+* [target-allocator] create new target package ([#1214](https://github.com/open-telemetry/opentelemetry-operator/pull/1214), [@moh-osman3](https://github.com/moh-osman3))
+### 💡 Enhancements 💡
+* Only create ServiceAccounts if existing ServiceAccount is not specified ([#1246](https://github.com/open-telemetry/opentelemetry-operator/pull/1246), [@csquire](https://github.com/csquire))
+* feat(otel-allocator): use type for AllocationStrategy ([#1220](https://github.com/open-telemetry/opentelemetry-operator/pull/1220), [@secustor](https://github.com/secustor))
+* fix min tls setting for webhook server (#1225) ([#1230](https://github.com/open-telemetry/opentelemetry-operator/pull/1230), [@kangsheng89](https://github.com/kangsheng89))
+* Bump OTel python versions to 1.14.0 and 0.35b0 ([#1227](https://github.com/open-telemetry/opentelemetry-operator/pull/1227), [@vainikkaj](https://github.com/vainikkaj))
+* Trim unnecessary otelcol operator verbs ([#1222](https://github.com/open-telemetry/opentelemetry-operator/pull/1222), [@Allex1](https://github.com/Allex1))
+* decrease autoscaling version detection log verbosity ([#1212](https://github.com/open-telemetry/opentelemetry-operator/pull/1212), [@frzifus](https://github.com/frzifus))
+
+### 🧰 Bug fixes 🧰
+* None
+
+#### OpenTelemetry Collector and Contrib
+* [OpenTelemetry Collector - v0.64.1](https://github.com/open-telemetry/opentelemetry-collector/releases/tag/v0.64.1)
+* [OpenTelemetry Contrib - v0.64.0](https://github.com/open-telemetry/opentelemetry-collector-contrib/releases/tag/v0.64.0)
+* [OpenTelemetry Collector - v0.64.0](https://github.com/open-telemetry/opentelemetry-collector/releases/tag/v0.64.0)
+
 0.63.1
 ------------------
 ### 🚀 New components 🚀
diff --git a/README.md b/README.md
index 42d76841a4..9a4a070e4f 100644
--- a/README.md
+++ b/README.md
@@ -327,6 +327,7 @@ The OpenTelemetry Operator *might* work on versions outside of the given range,
 
 | OpenTelemetry Operator | Kubernetes           | Cert-Manager         |
 |------------------------|----------------------|----------------------|
+| v0.64.1                | v1.19 to v1.25       | v1                   |
 | v0.63.1                | v1.19 to v1.25       | v1                   |
 | v0.62.1                | v1.19 to v1.25       | v1                   |
 | v0.61.0                | v1.19 to v1.25       | v1                   |
@@ -347,7 +348,7 @@ The OpenTelemetry Operator *might* work on versions outside of the given range,
 | v0.46.0                | v1.19 to v1.23       | v1alpha2             |
 | v0.45.0                | v1.21 to v1.23       | v1alpha2             |
 | v0.44.0                | v1.21 to v1.23       | v1alpha2             |
-| v0.43.0                | v1.21 to v1.23       | v1alpha2             |
+
 
 
 ## Contributing and Developing
diff --git a/bundle/manifests/opentelemetry-operator.clusterserviceversion.yaml b/bundle/manifests/opentelemetry-operator.clusterserviceversion.yaml
index 007b9c3b18..5a0f7412df 100644
--- a/bundle/manifests/opentelemetry-operator.clusterserviceversion.yaml
+++ b/bundle/manifests/opentelemetry-operator.clusterserviceversion.yaml
@@ -37,7 +37,7 @@ metadata:
     operators.operatorframework.io/project_layout: go.kubebuilder.io/v3
     repository: github.com/open-telemetry/opentelemetry-operator
     support: OpenTelemetry Community
-  name: opentelemetry-operator.v0.63.1
+  name: opentelemetry-operator.v0.64.1
   namespace: placeholder
 spec:
   apiservicedefinitions: {}
@@ -294,7 +294,7 @@ spec:
                 - --enable-leader-election
                 - --zap-log-level=info
                 - --zap-time-encoding=rfc3339nano
-                image: ghcr.io/open-telemetry/opentelemetry-operator/opentelemetry-operator:0.63.1
+                image: ghcr.io/open-telemetry/opentelemetry-operator/opentelemetry-operator:0.64.1
                 livenessProbe:
                   httpGet:
                     path: /healthz
@@ -401,7 +401,7 @@ spec:
   maturity: alpha
   provider:
     name: OpenTelemetry Community
-  version: 0.63.1
+  version: 0.64.1
   webhookdefinitions:
   - admissionReviewVersions:
     - v1
diff --git a/versions.txt b/versions.txt
index cbc83c6f60..db2f4e7271 100644
--- a/versions.txt
+++ b/versions.txt
@@ -2,17 +2,17 @@
 # by default with the OpenTelemetry Operator. This would usually be the latest
 # stable OpenTelemetry version. When you update this file, make sure to update the
 # the docs as well.
-opentelemetry-collector=0.63.1
+opentelemetry-collector=0.64.1
 
 # Represents the current release of the OpenTelemetry Operator.
-operator=0.63.1
+operator=0.64.1
 
 # Represents the current release of the Target Allocator.
-targetallocator=0.60.0
+targetallocator=0.64.1
 
 # Represents the current release of Java instrumentation.
 # Should match autoinstrumentation/java/version.txt
-autoinstrumentation-java=1.19.1
+autoinstrumentation-java=1.20.1
 
 # Represents the current release of NodeJS instrumentation.
 # Should match value in autoinstrumentation/nodejs/package.json