diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0606b9035..20ed898f1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Zappa Changelog
 
+## 0.54.1
+* Increase Lambda client read timeout to 15m (#1065)
+* Unpin `Werkzeug` from `v0.x` (#1067)
+
 ## 0.54.0
 * Pin troposphere version and update to 3.x (#1029)
 * Relax stage name restrictions when not using apigateway (#993)
diff --git a/zappa/__init__.py b/zappa/__init__.py
index c655e486b..371973651 100644
--- a/zappa/__init__.py
+++ b/zappa/__init__.py
@@ -13,4 +13,4 @@
     )
     raise RuntimeError(err_msg)
 
-__version__ = "0.54.0"
+__version__ = "0.54.1"