diff --git a/docs/changes.rst b/docs/changes.rst
index 330118a8..2a8f3443 100644
--- a/docs/changes.rst
+++ b/docs/changes.rst
@@ -5,23 +5,13 @@ Changes
 This change log is used to track all major changes to Mopidy.
 
 
-v0.12.0 (in development)
+v0.13.0 (in development)
 ========================
 
 (in development)
 
-- Make Mopidy work on early Python 2.6 versions. (Fixes: :issue:`302`)
-
-  - ``optparse`` fails if the first argument to ``add_option`` is a unicode
-    string on Python < 2.6.2rc1.
-
-  - ``foo(**data)`` fails if the keys in ``data`` is unicode strings on Python
-    < 2.6.5rc1.
-
 **Audio sub-system**
 
-- Improve selection of mixer tracks for volume control. (Fixes: :issue:`307`)
-
 - EOT (end of track) and EOS (end of stream) handling has finally been fixed.
   Problem with the old code was that we simply used EOS for everything, and let
   the EOS propagate for the end of each track. What this means is basically that
@@ -46,6 +36,29 @@ v0.12.0 (in development)
 
 - Let GStreamer handle time position tracking and seeks. (Fixes: :issue:`191`)
 
+
+v0.12.0 (2013-03-12)
+====================
+
+The 0.12 release has been delayed for a while because of some issues related
+some ongoing GStreamer cleanup we didn't invest enough time to finish. Finally,
+we've come to our senses and have now cherry-picked the good parts to bring you
+a new release, while postponing the GStreamer changes to 0.13. The release adds
+a new backend for playing audio streams, as well as various minor improvements
+throughout Mopidy.
+
+- Make Mopidy work on early Python 2.6 versions. (Fixes: :issue:`302`)
+
+  - ``optparse`` fails if the first argument to ``add_option`` is a unicode
+    string on Python < 2.6.2rc1.
+
+  - ``foo(**data)`` fails if the keys in ``data`` is unicode strings on Python
+    < 2.6.5rc1.
+
+**Audio sub-system**
+
+- Improve selection of mixer tracks for volume control. (Fixes: :issue:`307`)
+
 **Local backend**
 
 - Make ``mopidy-scan`` support symlinks.
diff --git a/mopidy/__init__.py b/mopidy/__init__.py
index 9d66b722..0a8e68aa 100644
--- a/mopidy/__init__.py
+++ b/mopidy/__init__.py
@@ -23,7 +23,7 @@ if (isinstance(pykka.__version__, basestring)
 warnings.filterwarnings('ignore', 'could not open display')
 
 
-__version__ = '0.11.1'
+__version__ = '0.12.0'
 
 
 from mopidy import settings as default_settings_module
diff --git a/tests/version_test.py b/tests/version_test.py
index 1cb3967c..a444ea1f 100644
--- a/tests/version_test.py
+++ b/tests/version_test.py
@@ -34,5 +34,6 @@ class VersionTest(unittest.TestCase):
         self.assertLess(SV('0.8.1'), SV('0.9.0'))
         self.assertLess(SV('0.9.0'), SV('0.10.0'))
         self.assertLess(SV('0.10.0'), SV('0.11.0'))
-        self.assertLess(SV('0.11.0'), SV(__version__))
-        self.assertLess(SV(__version__), SV('0.11.2'))
+        self.assertLess(SV('0.11.0'), SV('0.11.1'))
+        self.assertLess(SV('0.11.1'), SV(__version__))
+        self.assertLess(SV(__version__), SV('0.12.1'))