diff --git a/CHANGELOG/CHANGELOG-0.4.md b/CHANGELOG/CHANGELOG-0.4.md
new file mode 100644
index 000000000..8c7286811
--- /dev/null
+++ b/CHANGELOG/CHANGELOG-0.4.md
@@ -0,0 +1,20 @@
+# Changelog 0.4
+
+## 0.4.0 - 2022-12-23
+
+### Added
+
+- Support bundle collection. ([#140](https://github.com/antrea-io/theia/pull/140), [@wsquan171])
+  * Add support bundle collection functionalities to Theia manager
+- Structured policy recommendation results. ([#138](https://github.com/antrea-io/theia/pull/138), [@yanjunz97])
+  * Update ClickHouse data schema to store each PR individually
+  * Add PR results retrieving in the API server
+- NetworkPolicy Recommendation application on the Snowflake backend. ([#137](https://github.com/antrea-io/theia/pull/137), [@dreamtalen])
+  * Implement NetworkPolicy Recommendation as Snowflake UDFs which could be running on Snowflake warehouses
+- Clickhouse statistic functions for Theia manager. ([#132](https://github.com/antrea-io/theia/pull/132), [@yuntanghsu])
+  * Add the clickhouse statistic related functions for Theia Manager
+
+[@dreamtalen]: https://github.com/dreamtalen
+[@wsquan171]: https://github.com/wsquan171
+[@yanjunz97]: https://github.com/yanjunz97
+[@yuntanghsu]: https://github.com/yuntanghsu
diff --git a/VERSION b/VERSION
index ef9b4e2c3..fb7a04cff 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v0.4.0-dev
+v0.4.0
diff --git a/build/charts/theia/README.md b/build/charts/theia/README.md
index 7b140830c..b009171e1 100644
--- a/build/charts/theia/README.md
+++ b/build/charts/theia/README.md
@@ -1,6 +1,6 @@
 # theia
 
-![Version: 0.4.0-dev](https://img.shields.io/badge/Version-0.4.0--dev-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: latest](https://img.shields.io/badge/AppVersion-latest-informational?style=flat-square)
+![Version: 0.4.0](https://img.shields.io/badge/Version-0.4.0-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: latest](https://img.shields.io/badge/AppVersion-latest-informational?style=flat-square)
 
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