diff --git a/CHANGELOG.md b/CHANGELOG.md
index fc6be3a818..848a5cb5c9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,13 @@
 # v1.16
 
+## Release v1.16.5 - 2024/03/27
+
+### Bug Fix
+
+* Buffer: Fix emit error of v1.16.4 sometimes failing to process large data
+  exceeding chunk size limit
+  https://github.com/fluent/fluentd/pull/4447
+
 ## Release v1.16.4 - 2024/03/14
 
 ### Bug Fix
diff --git a/lib/fluent/version.rb b/lib/fluent/version.rb
index 584e7ded31..140fc43c43 100644
--- a/lib/fluent/version.rb
+++ b/lib/fluent/version.rb
@@ -16,6 +16,6 @@
 
 module Fluent
 
-  VERSION = '1.16.4'
+  VERSION = '1.16.5'
 
 end