diff --git a/CHANGELOG.md b/CHANGELOG.md
index c853f1b6..02865039 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,13 @@
 
 [1]: https://pypi.org/project/google-cloud-ndb/#history
 
+## [2.3.2](https://github.com/googleapis/python-ndb/compare/v2.3.1...v2.3.2) (2024-07-15)
+
+
+### Bug Fixes
+
+* Allow Protobuf 5.x ([#991](https://github.com/googleapis/python-ndb/issues/991)) ([5812a3c](https://github.com/googleapis/python-ndb/commit/5812a3c2833ef9edda1726645e32789752474bd6))
+
 ## [2.3.1](https://github.com/googleapis/python-ndb/compare/v2.3.0...v2.3.1) (2024-03-16)
 
 
diff --git a/google/cloud/ndb/version.py b/google/cloud/ndb/version.py
index 4be9e8f1..871b248f 100644
--- a/google/cloud/ndb/version.py
+++ b/google/cloud/ndb/version.py
@@ -12,4 +12,4 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 #
-__version__ = "2.3.1"
+__version__ = "2.3.2"