v1.2.0

diff --git a/CHANGELOG.md b/CHANGELOG.md
index c25eac0..e58c4fd 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,8 @@
 
 ## [Unreleased]
 
+## [1.2.0] - 2025-02-25
+
 ### Added since 1.1.1
 * Turn on the gain map API. Remove the AVIF_ENABLE_EXPERIMENTAL_GAIN_MAP CMake
   flag.
@@ -1210,7 +1212,8 @@
 - Constants `AVIF_VERSION`, `AVIF_VERSION_MAJOR`, `AVIF_VERSION_MINOR`, `AVIF_VERSION_PATCH`
 - `avifVersion()` function
 
-[Unreleased]: https://github.com/AOMediaCodec/libavif/compare/v1.1.1...HEAD
+[Unreleased]: https://github.com/AOMediaCodec/libavif/compare/v1.2.0...HEAD
+[1.2.0]: https://github.com/AOMediaCodec/libavif/compare/v1.1.1...v1.2.0
 [1.1.1]: https://github.com/AOMediaCodec/libavif/compare/v1.1.0...v1.1.1
 [1.1.0]: https://github.com/AOMediaCodec/libavif/compare/v1.0.0...v1.1.0
 [1.0.4]: https://github.com/AOMediaCodec/libavif/compare/v1.0.3...v1.0.4
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 74ae71f..598aad5 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -20,7 +20,7 @@
     cmake_policy(SET CMP0169 OLD)
 endif()
 
-project(libavif LANGUAGES C VERSION 1.1.1)
+project(libavif LANGUAGES C VERSION 1.2.0)
 
 # The root directory of the avif source
 set(AVIF_SOURCE_DIR "${CMAKE_CURRENT_SOURCE_DIR}")
@@ -55,8 +55,8 @@
 #   If the source code was changed, but there were no interface changes:
 #     Increment PATCH.
 set(LIBRARY_VERSION_MAJOR 16)
-set(LIBRARY_VERSION_MINOR 1)
-set(LIBRARY_VERSION_PATCH 1)
+set(LIBRARY_VERSION_MINOR 2)
+set(LIBRARY_VERSION_PATCH 0)
 set(LIBRARY_VERSION "${LIBRARY_VERSION_MAJOR}.${LIBRARY_VERSION_MINOR}.${LIBRARY_VERSION_PATCH}")
 set(LIBRARY_SOVERSION ${LIBRARY_VERSION_MAJOR})
 
diff --git a/include/avif/avif.h b/include/avif/avif.h
index 4e8aa02..9c64b01 100644
--- a/include/avif/avif.h
+++ b/include/avif/avif.h
@@ -78,9 +78,9 @@
 // downstream projects to do greater-than preprocessor checks on AVIF_VERSION
 // to leverage in-development code without breaking their stable builds.
 #define AVIF_VERSION_MAJOR 1
-#define AVIF_VERSION_MINOR 1
-#define AVIF_VERSION_PATCH 1
-#define AVIF_VERSION_DEVEL 1
+#define AVIF_VERSION_MINOR 2
+#define AVIF_VERSION_PATCH 0
+#define AVIF_VERSION_DEVEL 0
 #define AVIF_VERSION \
     ((AVIF_VERSION_MAJOR * 1000000) + (AVIF_VERSION_MINOR * 10000) + (AVIF_VERSION_PATCH * 100) + AVIF_VERSION_DEVEL)