diff --git a/CHANGELOG.md b/CHANGELOG.md
index ea36ef9c8..744348342 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,22 +1,28 @@
 # Changelog
 
-This file is currently only a template for future use.
-
-Each change falls into one of the following categories: Added, Changed, Deprecated, Removed, Fixed or Security.
+The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/).
 
 ## [Unreleased]
 
+## [0.2.0] - 2022-12-12
+
 ### Added
  - Added `secp256k1_selftest`, to be used in conjunction with `secp256k1_context_static`.
 
 ### Changed
- - Enable modules schnorrsig, extrakeys and ECDH by default in ./configure
+ - Enabled modules schnorrsig, extrakeys and ECDH by default in `./configure`.
 
 ### Deprecated
  - Deprecated context flags `SECP256K1_CONTEXT_VERIFY` and `SECP256K1_CONTEXT_SIGN`. Use `SECP256K1_CONTEXT_NONE` instead.
  - Renamed `secp256k1_context_no_precomp` to `secp256k1_context_static`.
 
-## [MAJOR.MINOR.PATCH] - YYYY-MM-DD
+### ABI Compatibility
+
+Since this is the first release, we do not compare application binary interfaces.
+However, there are unreleased versions of libsecp256k1 that are *not* ABI compatible with this version.
+
+## [0.1.0] - 2013-03-05 to 2021-12-25
 
-### Added/Changed/Deprecated/Removed/Fixed/Security
-- [Title with link to Pull Request](https://link-to-pr)
+This version was in fact never released.
+The number was given by the build system since the introduction of autotools in Jan 2014 (ea0fe5a5bf0c04f9cc955b2966b614f5f378c6f6).
+Therefore, this version number does not uniquely identify a set of source files.
diff --git a/configure.ac b/configure.ac
index db3ff259b..68f279b17 100644
--- a/configure.ac
+++ b/configure.ac
@@ -4,16 +4,16 @@ AC_PREREQ([2.60])
 # the API. All changes in experimental modules are treated as
 # backwards-compatible and therefore at most increase the minor version.
 define(_PKG_VERSION_MAJOR, 0)
-define(_PKG_VERSION_MINOR, 1)
+define(_PKG_VERSION_MINOR, 2)
 define(_PKG_VERSION_PATCH, 0)
-define(_PKG_VERSION_IS_RELEASE, false)
+define(_PKG_VERSION_IS_RELEASE, true)
 
 # The library version is based on libtool versioning of the ABI. The set of
 # rules for updating the version can be found here:
 # https://www.gnu.org/software/libtool/manual/html_node/Updating-version-info.html
 # All changes in experimental modules are treated as if they don't affect the
 # interface and therefore only increase the revision.
-define(_LIB_VERSION_CURRENT, 0)
+define(_LIB_VERSION_CURRENT, 1)
 define(_LIB_VERSION_REVISION, 0)
 define(_LIB_VERSION_AGE, 0)