diff --git a/README.md b/README.md
index f8d48e85..dfcc78d4 100644
--- a/README.md
+++ b/README.md
@@ -7,7 +7,7 @@
 `skbase` provides base classes for creating scikit-learn-like parametric objects,
 along with tools to make it easier to build your own packages that follow these design patterns.
 
-:rocket: Version 0.11.0 is now available. Check out our
+:rocket: Version 0.12.0 is now available. Check out our
 [release notes](https://skbase.readthedocs.io/en/latest/changelog.html).
 
 | Overview | |
diff --git a/docs/source/_static/switcher.json b/docs/source/_static/switcher.json
index 7201f85a..56b11a2c 100644
--- a/docs/source/_static/switcher.json
+++ b/docs/source/_static/switcher.json
@@ -5,7 +5,12 @@
     "url": "https://skbase.readthedocs.io/en/latest/"
   },
   {
-    "name": "0.11.0 (stable)",
+    "name": "0.12.0 (stable)",
+    "version": "stable",
+    "url": "https://skbase.readthedocs.io/en/v0.12.0/"
+  },
+  {
+    "name": "0.11.0",
     "version": "stable",
     "url": "https://skbase.readthedocs.io/en/v0.11.0/"
   },
diff --git a/docs/source/user_documentation/changelog.rst b/docs/source/user_documentation/changelog.rst
index 6ffd48ba..d0192639 100644
--- a/docs/source/user_documentation/changelog.rst
+++ b/docs/source/user_documentation/changelog.rst
@@ -14,6 +14,43 @@ You can also subscribe to ``skbase``'s
 
 For planned changes and upcoming releases, see our :ref:`roadmap`.
 
+[0.12.0] - 2024-11-13
+=====================
+
+Feature release, and python 3.8 End-of-Life update.
+
+Core interface changes
+----------------------
+
+* the logic of ``clone`` has been refactored to a type-based plugin architecture,
+  with plugins inheriting from ``BaseCloner``. The default behaviour of ``clone``
+  remains unchanged, and a new plugin for ``scikit-learn`` estimators has been added,
+  dispatching to ``sklearn`` ``clone``. This change is not breaking, and it fixes
+  some reported bugs around ``sklearn`` config handling.
+* ``clone`` plugins can be customized by extenders by overriding the
+  ``_get_clone_plugins`` method, which can return a list of ``BaseCloner`` classes,
+  functioning as plugins.
+
+Enhancements
+------------
+
+* [ENH] refactor ``_clone`` to a plugin structure (:pr:`381`) :user:`fkiraly`
+* [ENH] add ``_get_clone_plugins`` to allow packages to customize clone plugins
+  (:pr:`383`) :user:`fkiraly`
+
+Maintenance
+-----------
+
+* [MNT] manage ``python 3.8`` end-of-life (:pr:`378`) :user:`fkiraly`
+* [MNT] fix failing ``code-quality`` CI step (:pr:`377`) :user:`fkiraly`
+* [MNT] [Dependabot](deps): Update sphinx-gallery requirement
+  from ``<0.18.0`` to ``<0.19.0`` (:pr:`375`) :user:`dependabot`
+* [MNT] [Dependabot](deps): Update ``sphinx-issues`` requirement
+  from ``<5.0.0`` to ``<6.0.0`` (:pr:`376`) :user:`dependabot`
+* [pre-commit.ci] pre-commit autoupdate (:pr:`379`) :user:`pre-commit-ci`
+* [pre-commit.ci] pre-commit autoupdate (:pr:`382`) :user:`pre-commit-ci`
+
+
 [0.11.0] - 2024-10-07
 =====================
 
diff --git a/pyproject.toml b/pyproject.toml
index 580c959b..0bf6408a 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "scikit-base"
-version = "0.11.0"
+version = "0.12.0"
 description = "Base classes for sklearn-like parametric objects"
 authors = [
     {name = "sktime developers", email = "sktime.toolbox@gmail.com"},
diff --git a/skbase/__init__.py b/skbase/__init__.py
index 1b29446e..57c2a210 100644
--- a/skbase/__init__.py
+++ b/skbase/__init__.py
@@ -6,4 +6,4 @@
 The included functionality makes it easy to reuse scikit-learn and
 sktime design principles in your project.
 """
-__version__: str = "0.11.0"
+__version__: str = "0.12.0"