diff --git a/CHANGELOG.md b/CHANGELOG.md
index c970c82dcfb191..bc594a43e517ed 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -32,7 +32,8 @@ release.
 </tr>
 <tr>
     <td valign="top">
-<b><a href="doc/changelogs/CHANGELOG_V16.md#16.20.1">16.20.1</a></b><br/>
+<b><a href="doc/changelogs/CHANGELOG_V16.md#16.20.2">16.20.2</a></b><br/>
+<a href="doc/changelogs/CHANGELOG_V16.md#16.20.1">16.20.1</a><br/>
 <a href="doc/changelogs/CHANGELOG_V16.md#16.20.0">16.20.0</a><br/>
 <a href="doc/changelogs/CHANGELOG_V16.md#16.19.1">16.19.1</a><br/>
 <a href="doc/changelogs/CHANGELOG_V16.md#16.19.0">16.19.0</a><br/>
diff --git a/doc/changelogs/CHANGELOG_V16.md b/doc/changelogs/CHANGELOG_V16.md
index 3cb84464c801be..58ac372fafa74c 100644
--- a/doc/changelogs/CHANGELOG_V16.md
+++ b/doc/changelogs/CHANGELOG_V16.md
@@ -9,6 +9,7 @@
 </tr>
 <tr>
 <td valign="top">
+<a href="#16.20.2">16.20.2</a><br/>
 <a href="#16.20.1">16.20.1</a><br/>
 <a href="#16.20.0">16.20.0</a><br/>
 <a href="#16.19.1">16.19.1</a><br/>
@@ -70,6 +71,34 @@
   * [io.js](CHANGELOG_IOJS.md)
   * [Archive](CHANGELOG_ARCHIVE.md)
 
+<a id="16.20.2"></a>
+
+## 2023-08-09, Version 16.20.2 'Gallium' (LTS), @RafaelGSS
+
+This is a security release.
+
+### Notable Changes
+
+The following CVEs are fixed in this release:
+
+* [CVE-2023-32002](https://cve.mitre.org/cgi-bin/cvename.cgi?name=CVE-2023-32002):  Policies can be bypassed via Module.\_load (High)
+* [CVE-2023-32006](https://cve.mitre.org/cgi-bin/cvename.cgi?name=CVE-2023-32006): Policies can be bypassed by module.constructor.createRequire (Medium)
+* [CVE-2023-32559](https://cve.mitre.org/cgi-bin/cvename.cgi?name=CVE-2023-32559): Policies can be bypassed via process.binding (Medium)
+* OpenSSL Security Releases
+  * [OpenSSL security advisory 14th July](https://mta.openssl.org/pipermail/openssl-announce/2023-July/000264.html).
+  * [OpenSSL security advisory 19th July](https://mta.openssl.org/pipermail/openssl-announce/2023-July/000265.html).
+  * [OpenSSL security advisory 31st July](https://mta.openssl.org/pipermail/openssl-announce/2023-July/000267.html)
+
+More detailed information on each of the vulnerabilities can be found in [August 2023 Security Releases](https://nodejs.org/en/blog/vulnerability/august-2023-security-releases/) blog post.
+
+### Commits
+
+* \[[`40c3958a5a`](https://github.com/nodejs/node/commit/40c3958a5a)] - **deps**: update archs files for OpenSSL-1.1.1v (RafaelGSS) [#49043](https://github.com/nodejs/node/pull/49043)
+* \[[`a9ac9da89a`](https://github.com/nodejs/node/commit/a9ac9da89a)] - **deps**: fix openssl crypto clean (RafaelGSS) [#49043](https://github.com/nodejs/node/pull/49043)
+* \[[`362d4c7494`](https://github.com/nodejs/node/commit/362d4c7494)] - **deps**: upgrade openssl sources to OpenSSL\_1\_1\_1v (RafaelGSS) [#49043](https://github.com/nodejs/node/pull/49043)
+* \[[`d8ccfe9ad4`](https://github.com/nodejs/node/commit/d8ccfe9ad4)] - **policy**: handle Module.constructor and main.extensions bypass (RafaelGSS) [nodejs-private/node-private#445](https://github.com/nodejs-private/node-private/pull/445)
+* \[[`242aaa0caa`](https://github.com/nodejs/node/commit/242aaa0caa)] - **policy**: disable process.binding() when enabled (Tobias Nießen) [nodejs-private/node-private#459](https://github.com/nodejs-private/node-private/pull/459)
+
 <a id="16.20.1"></a>
 
 ## 2023-06-20, Version 16.20.1 'Gallium' (LTS), @RafaelGSS
diff --git a/src/node_version.h b/src/node_version.h
index 9073ec57460e46..45ebb27ad6fb70 100644
--- a/src/node_version.h
+++ b/src/node_version.h
@@ -29,7 +29,7 @@
 #define NODE_VERSION_IS_LTS 1
 #define NODE_VERSION_LTS_CODENAME "Gallium"
 
-#define NODE_VERSION_IS_RELEASE 0
+#define NODE_VERSION_IS_RELEASE 1
 
 #ifndef NODE_STRINGIFY
 #define NODE_STRINGIFY(n) NODE_STRINGIFY_HELPER(n)