diff --git a/CHANGELOG.md b/CHANGELOG.md
index ae5506dc5..455e15811 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -12,6 +12,11 @@
   security updates in June of 2013; continuing to support it would prevent
   the use of newer features of Ruby.
 
+# 3.3.1
+
+* Remove usage of Timeout::timeout, refactor into using low level non-blocking writes.
+  This fixes a memory leak due to Timeout creating threads on each invocation.
+
 # 3.3.0
 
 * Added support for SSL/TLS. Redis doesn't support SSL natively, so you still
diff --git a/lib/redis/version.rb b/lib/redis/version.rb
index 3f1fbc020..56f998925 100644
--- a/lib/redis/version.rb
+++ b/lib/redis/version.rb
@@ -1,3 +1,3 @@
 class Redis
-  VERSION = "3.3.0"
+  VERSION = "3.3.1"
 end