diff --git a/pubsub/CHANGELOG.md b/pubsub/CHANGELOG.md
index 6c4b78258ee6..a6ed8ca5f36c 100644
--- a/pubsub/CHANGELOG.md
+++ b/pubsub/CHANGELOG.md
@@ -4,6 +4,19 @@
 
 [1]: https://pypi.org/project/google-cloud-pubsub/#history
 
+## 0.38.0
+
+### Implementation Changes
+
+- Fix race condition in recv()'s usage of self.call. ([#5935](https://github.com/GoogleCloudPlatform/google-cloud-python/pull/5935))
+- Re-generate the underlying library from protos. ([#5953](https://github.com/GoogleCloudPlatform/google-cloud-python/pull/5953))
+- Change 'BatchSettings.max_bytes' default. ([#5899](https://github.com/GoogleCloudPlatform/google-cloud-python/pull/5899))
+- Fix race condition where pending Ack IDs can be modified by another thread. ([#5929](https://github.com/GoogleCloudPlatform/google-cloud-python/pull/5929))
+
+### Internal / Testing Changes
+
+- Nox: use inplace installs ([#5865](https://github.com/GoogleCloudPlatform/google-cloud-python/pull/5865))
+
 ## 0.37.2
 
 ### Implementation Changes
diff --git a/pubsub/setup.py b/pubsub/setup.py
index c812b7981842..ee5677565a12 100644
--- a/pubsub/setup.py
+++ b/pubsub/setup.py
@@ -22,7 +22,7 @@
 
 name = 'google-cloud-pubsub'
 description = 'Google Cloud Pub/Sub API client library'
-version = '0.37.2'
+version = '0.38.0'
 # Should be one of:
 # 'Development Status :: 3 - Alpha'
 # 'Development Status :: 4 - Beta'