diff --git a/CHANGELOG.md b/CHANGELOG.md
index d5145d23d8..7a4909dcbb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,47 @@
 # Changelog
 
+## [0.54.1](https://github.com/GoogleCloudPlatform/pgadapter/compare/v0.54.0...v0.54.1) (2026-04-21)
+
+
+### Bug Fixes
+
+* emit variant-specific command tag for DEALLOCATE ALL and DISCARD ([#4315](https://github.com/GoogleCloudPlatform/pgadapter/issues/4315)) ([5514ce3](https://github.com/GoogleCloudPlatform/pgadapter/commit/5514ce31e1190450375d67d04222627fdc15362d))
+
+
+### Performance Improvements
+
+* move cache used for described statements from connection to server ([#4340](https://github.com/GoogleCloudPlatform/pgadapter/issues/4340)) ([46f4734](https://github.com/GoogleCloudPlatform/pgadapter/commit/46f47341063f1f328963233254a48916eac9eadd))
+* use a static method for binding bool params ([#4356](https://github.com/GoogleCloudPlatform/pgadapter/issues/4356)) ([5cb2e5d](https://github.com/GoogleCloudPlatform/pgadapter/commit/5cb2e5d4e749d33f7689c5043b48a20fe6ae794a))
+* use static binders for paramter values ([#4363](https://github.com/GoogleCloudPlatform/pgadapter/issues/4363)) ([5094a55](https://github.com/GoogleCloudPlatform/pgadapter/commit/5094a55d62824e0307e6344116f3f236b75b7676))
+
+
+### Dependencies
+
+* override plexus version ([#4298](https://github.com/GoogleCloudPlatform/pgadapter/issues/4298)) ([0a7576d](https://github.com/GoogleCloudPlatform/pgadapter/commit/0a7576dbfd32af087938c12a1effdedd6f4ff055))
+* update alpine docker tag to v3.23.4 ([#4341](https://github.com/GoogleCloudPlatform/pgadapter/issues/4341)) ([7ce1ca3](https://github.com/GoogleCloudPlatform/pgadapter/commit/7ce1ca300f9c5668c2ea34b56faecaada6e8b3ee))
+* update dependency coverlet.collector to 8.0.1 ([#4303](https://github.com/GoogleCloudPlatform/pgadapter/issues/4303)) ([4647701](https://github.com/GoogleCloudPlatform/pgadapter/commit/4647701dbc8884c13e3e42102744faa39c6dca27))
+* update dependency django to v5.2.13 [security] ([#4309](https://github.com/GoogleCloudPlatform/pgadapter/issues/4309)) ([113dc44](https://github.com/GoogleCloudPlatform/pgadapter/commit/113dc44403d54261299d2bb08c6dc3cb0b60b0f9))
+* update dependency go to v1.26.2 ([#4310](https://github.com/GoogleCloudPlatform/pgadapter/issues/4310)) ([ffd518c](https://github.com/GoogleCloudPlatform/pgadapter/commit/ffd518cd1053b38353e37f5df45dcd1d59c45066))
+* update dependency google.auth to v2.49.2 ([#4320](https://github.com/GoogleCloudPlatform/pgadapter/issues/4320)) ([68446c8](https://github.com/GoogleCloudPlatform/pgadapter/commit/68446c859140a818153c0e24133e8385058a10f2))
+* update dependency gunicorn to v25.3.0 ([#4338](https://github.com/GoogleCloudPlatform/pgadapter/issues/4338)) ([dd8003f](https://github.com/GoogleCloudPlatform/pgadapter/commit/dd8003f5e4e4ab00f4f73547a9ce121f2ede7a88))
+* update dependency io.opentelemetry:opentelemetry-bom to v1.61.0 ([#4339](https://github.com/GoogleCloudPlatform/pgadapter/issues/4339)) ([6741322](https://github.com/GoogleCloudPlatform/pgadapter/commit/6741322fc509948b18345dc629168868fdc6d84c))
+* update dependency microsoft.net.test.sdk to 18.4.0 ([#4342](https://github.com/GoogleCloudPlatform/pgadapter/issues/4342)) ([79fade9](https://github.com/GoogleCloudPlatform/pgadapter/commit/79fade995d203523d043349a3dfa937a11dd4caf))
+* update dependency nunit3testadapter to 6.2.0 ([#4343](https://github.com/GoogleCloudPlatform/pgadapter/issues/4343)) ([d96ba4a](https://github.com/GoogleCloudPlatform/pgadapter/commit/d96ba4a9db3e8d346f46e62294ac979836fa9b9e))
+* update dependency org.hibernate.orm:hibernate-core to v7.3.1.final ([#4321](https://github.com/GoogleCloudPlatform/pgadapter/issues/4321)) ([79b30a0](https://github.com/GoogleCloudPlatform/pgadapter/commit/79b30a0635cabdbf5c1da43691b02b2d89dbcff8))
+* update dependency org.springframework.boot:spring-boot-dependencies to v3.5.13 ([#4313](https://github.com/GoogleCloudPlatform/pgadapter/issues/4313)) ([af33870](https://github.com/GoogleCloudPlatform/pgadapter/commit/af338709fd309b7e01d08a51596ff68194c85483))
+* update dependency org.springframework.boot:spring-boot-starter-parent to v3.5.13 ([#4314](https://github.com/GoogleCloudPlatform/pgadapter/issues/4314)) ([d8cf730](https://github.com/GoogleCloudPlatform/pgadapter/commit/d8cf7307b95a37cc9d340cbdd7cc1ceb0919c27e))
+* update dependency org.testcontainers:testcontainers to v2.0.4 ([#4326](https://github.com/GoogleCloudPlatform/pgadapter/issues/4326)) ([fa6d30b](https://github.com/GoogleCloudPlatform/pgadapter/commit/fa6d30bfd0bff34eba03252d5f1eb00c0abfa286))
+* update dependency phpunit/phpunit to v13 ([#4240](https://github.com/GoogleCloudPlatform/pgadapter/issues/4240)) ([4d23992](https://github.com/GoogleCloudPlatform/pgadapter/commit/4d23992957fbdc1795cf85cd1fc12af733c431a8))
+* update dependency requests to v2.33.1 ([#4327](https://github.com/GoogleCloudPlatform/pgadapter/issues/4327)) ([6a4520f](https://github.com/GoogleCloudPlatform/pgadapter/commit/6a4520f87e11f4d9f0a736b38335410148c8810b))
+* update dependency ruby to v4.0.2 ([#4328](https://github.com/GoogleCloudPlatform/pgadapter/issues/4328)) ([5fdbafe](https://github.com/GoogleCloudPlatform/pgadapter/commit/5fdbafe7bed2a3d7941d1b898b176616218ad454))
+* update dependency testcontainers to v4.14.2 ([#4329](https://github.com/GoogleCloudPlatform/pgadapter/issues/4329)) ([895778b](https://github.com/GoogleCloudPlatform/pgadapter/commit/895778ba12018ae5aec0ab6f710964045a37cacf))
+* update golang docker tag to v1.26.2 ([#4330](https://github.com/GoogleCloudPlatform/pgadapter/issues/4330)) ([b67285e](https://github.com/GoogleCloudPlatform/pgadapter/commit/b67285ec18d4ac6ee28b7b5ff8d320011f717c5c))
+* update module cloud.google.com/go/spanner to v1.90.0 ([#4344](https://github.com/GoogleCloudPlatform/pgadapter/issues/4344)) ([ba74c52](https://github.com/GoogleCloudPlatform/pgadapter/commit/ba74c52839a1f2bf2bf9963b98f2ce90b73b059c))
+* update module github.com/jackc/pgx/v5 to v5.9.0 [security] ([#4348](https://github.com/GoogleCloudPlatform/pgadapter/issues/4348)) ([bd2c1ae](https://github.com/GoogleCloudPlatform/pgadapter/commit/bd2c1aeed1877aeda6bb27bf2f2fe596b71c6a8b))
+* update module github.com/jackc/pgx/v5 to v5.9.1 ([#4354](https://github.com/GoogleCloudPlatform/pgadapter/issues/4354)) ([78e6c34](https://github.com/GoogleCloudPlatform/pgadapter/commit/78e6c343f7aefe11bbec0e924245dc107396eb0d))
+* update module github.com/montanaflynn/stats to v0.9.0 ([#4346](https://github.com/GoogleCloudPlatform/pgadapter/issues/4346)) ([12cf2d6](https://github.com/GoogleCloudPlatform/pgadapter/commit/12cf2d632c3d44eb110cb02011a41d5e08244b60))
+* update spring-boot.version to v4.0.5 ([#4331](https://github.com/GoogleCloudPlatform/pgadapter/issues/4331)) ([3e3221b](https://github.com/GoogleCloudPlatform/pgadapter/commit/3e3221be23f2ac1410182857540e404e162bc8de))
+
 ## [0.54.0](https://github.com/GoogleCloudPlatform/pgadapter/compare/v0.53.3...v0.54.0) (2026-04-02)
 
 
diff --git a/README.md b/README.md
index ec05dfd0b8..6b8a77f800 100644
--- a/README.md
+++ b/README.md
@@ -119,9 +119,9 @@ Use the `-s` option to specify a different local port than the default 5432 if y
 PostgreSQL running on your local system.
 
 <!--- {x-version-update-start:google-cloud-spanner-pgadapter:released} -->
-You can also download a specific version of the jar. Example (replace `v0.54.0` with the version you want to download):
+You can also download a specific version of the jar. Example (replace `v0.54.1` with the version you want to download):
 ```shell
-VERSION=v0.54.0
+VERSION=v0.54.1
 wget https://storage.googleapis.com/pgadapter-jar-releases/pgadapter-${VERSION}.tar.gz \
   && tar -xzvf pgadapter-${VERSION}.tar.gz
 java -jar pgadapter.jar -p my-project -i my-instance -d my-database
@@ -156,7 +156,7 @@ This option is only available for Java/JVM-based applications.
 <dependency>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-spanner-pgadapter</artifactId>
-  <version>0.54.0</version>
+  <version>0.54.1</version>
 </dependency>
 <!-- [END pgadapter_dependency] -->
 ```
diff --git a/pom.xml b/pom.xml
index 0b0185c821..fec01aa349 100644
--- a/pom.xml
+++ b/pom.xml
@@ -43,7 +43,7 @@
 
   <modelVersion>4.0.0</modelVersion>
   <artifactId>google-cloud-spanner-pgadapter</artifactId>
-  <version>0.54.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-spanner-pgadapter:current} -->
+  <version>0.54.1</version><!-- {x-version-update:google-cloud-spanner-pgadapter:current} -->
   <name>Google Cloud Spanner PostgreSQL Adapter</name>
   <packaging>jar</packaging>
   <description>
diff --git a/samples/java/jdbc/README.md b/samples/java/jdbc/README.md
index 31c930bd7b..6f1c2f74c4 100644
--- a/samples/java/jdbc/README.md
+++ b/samples/java/jdbc/README.md
@@ -14,12 +14,12 @@ The sample application adds the following dependencies:
 <dependency>
   <groupId>org.postgresql</groupId>
   <artifactId>postgresql</artifactId>
-  <version>0.54.0</version>
+  <version>0.54.1</version>
 </dependency>
 <dependency>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-spanner-pgadapter</artifactId>
-  <version>0.54.0</version>
+  <version>0.54.1</version>
 </dependency>
 <!-- [END pgadapter_and_jdbc_dependency] -->
 ```
diff --git a/versions.txt b/versions.txt
index 0651d4f03f..556bd74101 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,4 +1,4 @@
 # Format:
 # module:released-version:current-version
 
-google-cloud-spanner-pgadapter:0.54.0:0.54.1-SNAPSHOT
+google-cloud-spanner-pgadapter:0.54.1:0.54.1