diff --git a/CHANGELOG.md b/CHANGELOG.md
index 399e2f865..4da5295e5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Changelog
 
+## 16.5.1 - 2025-02-07
+* [#1811](https://github.com/stripe/stripe-php/pull/1811) Include a useful error message when a null byte is found in the URL path
+* [#1810](https://github.com/stripe/stripe-php/pull/1810) Make `httpClient()` a public, static method
+
 ## 16.5.0 - 2025-01-27
 * [#1804](https://github.com/stripe/stripe-php/pull/1804) Update generated code
   * Add support for `close` method on resource `Treasury.FinancialAccount`
diff --git a/VERSION b/VERSION
index 28ebe8b4d..773e5b01b 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-16.5.0
+16.5.1
diff --git a/lib/Stripe.php b/lib/Stripe.php
index 62639c999..787c4887b 100644
--- a/lib/Stripe.php
+++ b/lib/Stripe.php
@@ -64,7 +64,7 @@ class Stripe
     /** @var float Initial delay between retries, in seconds */
     private static $initialNetworkRetryDelay = 0.5;
 
-    const VERSION = '16.5.0';
+    const VERSION = '16.5.1';
 
     /**
      * @return string the API key used for requests