diff --git a/CHANGELOG.md b/CHANGELOG.md
index ce940cc..331dadb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Change Log
 
+## [v1.118.0] - 2024-06-04
+
+**Note**: This release contains features in closed beta (#700).
+
+- #701 - @llDrLove - Rename control plane permission to control plane firewall
+- #700 - @bbassingthwaite - Add ProxyProtocol to LoadBalancer HealthCheck
+
 ## [v1.117.0] - 2024-06-04
 
 - #696 - @llDrLove - Support specifying control plane firewall rules when creating or updating DOKS clusters
diff --git a/godo.go b/godo.go
index c16aac4..6d69ece 100644
--- a/godo.go
+++ b/godo.go
@@ -21,7 +21,7 @@ import (
 )
 
 const (
-	libraryVersion = "1.117.0"
+	libraryVersion = "1.118.0"
 	defaultBaseURL = "https://api.digitalocean.com/"
 	userAgent      = "godo/" + libraryVersion
 	mediaType      = "application/json"