diff --git a/CHANGELOG.md b/CHANGELOG.md
index 72e74a1d55131..6a621b0c6fa1e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,25 @@
 # Changelog
 
+## 0.3.2
+
+### Preview features
+
+- Improve single-`with` item formatting for Python 3.8 or older ([#10276](https://github.com/astral-sh/ruff/pull/10276))
+
+### Rule changes
+
+- \[`pyupgrade`\] Allow fixes for f-string rule regardless of line length (`UP032`) ([#10263](https://github.com/astral-sh/ruff/pull/10263))
+- \[`pycodestyle`\] Include actual conditions in E712 diagnostics ([#10254](https://github.com/astral-sh/ruff/pull/10254))
+
+### Bug fixes
+
+- Fix trailing kwargs end of line comment after slash ([#10297](https://github.com/astral-sh/ruff/pull/10297))
+- Fix unstable `with` items formatting ([#10274](https://github.com/astral-sh/ruff/pull/10274))
+- Avoid repeating function calls in f-string conversions ([#10265](https://github.com/astral-sh/ruff/pull/10265))
+- Fix E203 false positive for slices in format strings ([#10280](https://github.com/astral-sh/ruff/pull/10280))
+- Fix incorrect `Parameter` range  for `*args` and `**kwargs`  ([#10283](https://github.com/astral-sh/ruff/pull/10283))
+- Treat `typing.Annotated` subscripts as type definitions ([#10285](https://github.com/astral-sh/ruff/pull/10285))
+
 ## 0.3.1
 
 ### Preview features
diff --git a/Cargo.lock b/Cargo.lock
index 1da6f891534b9..371e39a029989 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1950,7 +1950,7 @@ dependencies = [
 
 [[package]]
 name = "ruff"
-version = "0.3.1"
+version = "0.3.2"
 dependencies = [
  "anyhow",
  "argfile",
@@ -2111,7 +2111,7 @@ dependencies = [
 
 [[package]]
 name = "ruff_linter"
-version = "0.3.1"
+version = "0.3.2"
 dependencies = [
  "aho-corasick",
  "annotate-snippets 0.9.2",
@@ -2362,7 +2362,7 @@ dependencies = [
 
 [[package]]
 name = "ruff_shrinking"
-version = "0.3.1"
+version = "0.3.2"
 dependencies = [
  "anyhow",
  "clap",
diff --git a/README.md b/README.md
index 41f06b5f7696f..ba2f07901d0ff 100644
--- a/README.md
+++ b/README.md
@@ -151,7 +151,7 @@ Ruff can also be used as a [pre-commit](https://pre-commit.com/) hook via [`ruff
 ```yaml
 - repo: https://github.com/astral-sh/ruff-pre-commit
   # Ruff version.
-  rev: v0.3.1
+  rev: v0.3.2
   hooks:
     # Run the linter.
     - id: ruff
diff --git a/crates/ruff/Cargo.toml b/crates/ruff/Cargo.toml
index e1e13a49cae9c..45c3bc3c0f007 100644
--- a/crates/ruff/Cargo.toml
+++ b/crates/ruff/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "ruff"
-version = "0.3.1"
+version = "0.3.2"
 publish = false
 authors = { workspace = true }
 edition = { workspace = true }
diff --git a/crates/ruff_linter/Cargo.toml b/crates/ruff_linter/Cargo.toml
index 8a45fe4b9f6fd..1c3ad68091334 100644
--- a/crates/ruff_linter/Cargo.toml
+++ b/crates/ruff_linter/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "ruff_linter"
-version = "0.3.1"
+version = "0.3.2"
 publish = false
 authors = { workspace = true }
 edition = { workspace = true }
diff --git a/crates/ruff_shrinking/Cargo.toml b/crates/ruff_shrinking/Cargo.toml
index b3075f482c5b5..24b3223a17866 100644
--- a/crates/ruff_shrinking/Cargo.toml
+++ b/crates/ruff_shrinking/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "ruff_shrinking"
-version = "0.3.1"
+version = "0.3.2"
 edition = "2021"
 
 # See more keys and their definitions at https://doc.rust-lang.org/cargo/reference/manifest.html
diff --git a/docs/integrations.md b/docs/integrations.md
index 437109d355bb7..45f393763e0c8 100644
--- a/docs/integrations.md
+++ b/docs/integrations.md
@@ -14,7 +14,7 @@ Ruff can be used as a [pre-commit](https://pre-commit.com) hook via [`ruff-pre-c
 ```yaml
 - repo: https://github.com/astral-sh/ruff-pre-commit
   # Ruff version.
-  rev: v0.3.1
+  rev: v0.3.2
   hooks:
     # Run the linter.
     - id: ruff
@@ -27,7 +27,7 @@ To enable lint fixes, add the `--fix` argument to the lint hook:
 ```yaml
 - repo: https://github.com/astral-sh/ruff-pre-commit
   # Ruff version.
-  rev: v0.3.1
+  rev: v0.3.2
   hooks:
     # Run the linter.
     - id: ruff
@@ -41,7 +41,7 @@ To run the hooks over Jupyter Notebooks too, add `jupyter` to the list of allowe
 ```yaml
 - repo: https://github.com/astral-sh/ruff-pre-commit
   # Ruff version.
-  rev: v0.3.1
+  rev: v0.3.2
   hooks:
     # Run the linter.
     - id: ruff
diff --git a/pyproject.toml b/pyproject.toml
index 1a0b2cf3a8fa5..b67cf40362466 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "maturin"
 
 [project]
 name = "ruff"
-version = "0.3.1"
+version = "0.3.2"
 description = "An extremely fast Python linter and code formatter, written in Rust."
 authors = [{ name = "Astral Software Inc.", email = "hey@astral.sh" }]
 readme = "README.md"
diff --git a/scripts/benchmarks/pyproject.toml b/scripts/benchmarks/pyproject.toml
index 51505ecbcdd5a..1ec5344b536bc 100644
--- a/scripts/benchmarks/pyproject.toml
+++ b/scripts/benchmarks/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "scripts"
-version = "0.3.1"
+version = "0.3.2"
 description = ""
 authors = ["Charles Marsh <charlie.r.marsh@gmail.com>"]