diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index b9fe22ea1..4fab1021a 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 1.8.0b4
+current_version = 1.8.0rc1
 parse = (?P<major>[\d]+) # major version number
 	\.(?P<minor>[\d]+) # minor version number
 	\.(?P<patch>[\d]+) # patch version number
diff --git a/.changes/1.8.0-rc1.md b/.changes/1.8.0-rc1.md
new file mode 100644
index 000000000..d1afa4b69
--- /dev/null
+++ b/.changes/1.8.0-rc1.md
@@ -0,0 +1 @@
+## dbt-snowflake 1.8.0-rc1 - May 07, 2024
diff --git a/CHANGELOG.md b/CHANGELOG.md
index cf46954c0..fb7c52175 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,10 @@
 - "Breaking changes" listed under a version may require action from end users or external maintainers when upgrading to that version.
 - Do not edit this file directly. This file is auto-generated using [changie](https://github.com/miniscruff/changie). For details on how to document a change, see [the contributing guide](https://github.com/dbt-labs/dbt-snowflake/blob/main/CONTRIBUTING.md#adding-changelog-entry)
 
+## dbt-snowflake 1.8.0-rc1 - May 07, 2024
+
+
+
 ## dbt-snowflake 1.8.0-b4 - May 06, 2024
 
 ### Fixes
@@ -19,8 +23,6 @@
 - Bump actions/setup-python from 4 to 5 ([#973](https://github.com/dbt-labs/dbt-snowflake/pull/973))
 - Bump actions/checkout from 3 to 4 ([#974](https://github.com/dbt-labs/dbt-snowflake/pull/974))
 
-
-
 ## dbt-snowflake 1.8.0-b3 - April 17, 2024
 
 ### Features
diff --git a/dbt/adapters/snowflake/__version__.py b/dbt/adapters/snowflake/__version__.py
index 6b76061fd..037ac1faf 100644
--- a/dbt/adapters/snowflake/__version__.py
+++ b/dbt/adapters/snowflake/__version__.py
@@ -1 +1 @@
-version = "1.8.0b4"
+version = "1.8.0rc1"
diff --git a/setup.py b/setup.py
index 1e5686cf5..9c7ae5c22 100644
--- a/setup.py
+++ b/setup.py
@@ -44,7 +44,7 @@ def _get_plugin_version_dict():
 
 
 package_name = "dbt-snowflake"
-package_version = "1.8.0b4"
+package_version = "1.8.0rc1"
 description = """The Snowflake adapter plugin for dbt"""
 
 setup(