diff --git a/CHANGELOG.md b/CHANGELOG.md
index 50e1327..0d1c6bf 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,7 @@
+0.4.0-rust-1.47.0
+
+- Upgrade to Rust [`1.47.0`](https://blog.rust-lang.org/2020/10/08/Rust-1.47.html)
+
 # 0.4.0-rust-1.45.2
 
 * **Breaking change** in avoid mixed user permissions when volume mounting cargo cache directories. This docker images now configures a cargo installation to `/cargo` directory rather than `/home/root/.cargo`. You'll also want to ensure
diff --git a/Dockerfile b/Dockerfile
index 641eb8e..3343028 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -1,7 +1,7 @@
 # https://github.com/lambci/docker-lambda#documentation
 FROM lambci/lambda:build-provided.al2
 
-ARG RUST_VERSION=1.45.2
+ARG RUST_VERSION=1.47.0
 RUN yum install -y jq
 RUN curl --proto '=https' --tlsv1.2 -sSf https://sh.rustup.rs \
  | CARGO_HOME=/cargo RUSTUP_HOME=/rustup sh -s -- -y --profile minimal --default-toolchain $RUST_VERSION
diff --git a/Makefile b/Makefile
index 7efdaaf..515cab4 100644
--- a/Makefile
+++ b/Makefile
@@ -1,5 +1,5 @@
 VERSION ?= 0.4.0
-RUST_VERSION ?= 1.45.2
+RUST_VERSION ?= 1.47.0
 REPO ?= softprops/lambda-rust
 TAG ?= "$(REPO):$(VERSION)-rust-$(RUST_VERSION)"