diff --git a/CHANGELOG.md b/CHANGELOG.md
index fb3ce1a30..2dab0bf15 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,17 @@
 # Changelog
 
+## 4.7.0-rc.2 (2024-02-27)
+
+### Features
+
+#### Support job cancellation for QPUs, perform automatic retries on transient network failures. (#1741)
+
+### Fixes
+
+#### Valid instructions will no longer be rejected by the compatibility layer (#1742)
+
+#### CompilerISA.dict() now uses the correct default field names: qubits and edges (#1746)
+
 ## 4.7.0-rc.1 (2024-02-22)
 
 ### Features
diff --git a/pyproject.toml b/pyproject.toml
index 2f9a1aa39..22a69e69d 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "pyquil"
-version = "4.7.0-rc.1"
+version = "4.7.0-rc.2"
 description = "A Python library for creating Quantum Instruction Language (Quil) programs."
 authors = ["Rigetti Computing <softapps@rigetti.com>"]
 readme = "README.md"