diff --git a/CHANGELOG.md b/CHANGELOG.md
index ed29e33b645a..0039fca7671e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,11 @@
+# 1.3.2 (2022-01-18)
+
+## Standard Library
+
+### Text
+
+- Fix buffer overflow in `String#index` ([#11747](https://github.com/crystal-lang/crystal/pull/11747), thanks @asterite, @straight-shoota)
+
 # 1.3.1 (2022-01-13)
 
 ## Standard Library
diff --git a/src/VERSION b/src/VERSION
index 3a3cd8cc8b07..1892b9267677 100644
--- a/src/VERSION
+++ b/src/VERSION
@@ -1 +1 @@
-1.3.1
+1.3.2