diff --git a/CHANGELOG.md b/CHANGELOG.md
index ef1801cb..09ceed8d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+### [0.12.1](https://www.github.com/nodejs/gyp-next/compare/v0.12.0...v0.12.1) (2022-04-06)
+
+
+### Bug Fixes
+
+* **msvs:** avoid fixing path for arguments with "=" ([#143](https://www.github.com/nodejs/gyp-next/issues/143)) ([7e8f16e](https://www.github.com/nodejs/gyp-next/commit/7e8f16eb165e042e64bec98fa6c2a0232a42c26b))
+
 ## [0.12.0](https://www.github.com/nodejs/gyp-next/compare/v0.11.0...v0.12.0) (2022-04-04)
 
 
diff --git a/setup.py b/setup.py
index 5dab10b3..fa2eefe3 100644
--- a/setup.py
+++ b/setup.py
@@ -15,7 +15,7 @@
 
 setup(
     name="gyp-next",
-    version="0.12.0",
+    version="0.12.1",
     description="A fork of the GYP build system for use in the Node.js projects",
     long_description=long_description,
     long_description_content_type="text/markdown",