diff --git a/README.md b/README.md
index f9997f54f7..46a22bb17e 100644
--- a/README.md
+++ b/README.md
@@ -75,14 +75,13 @@ English | [简体中文](/README_zh-CN.md)
 
 **The default branch has been switched to `main`(previous `1.x`) from `master`(current `0.x`), and we encourage users to migrate to the latest version with more supported models, stronger pre-training checkpoints and simpler coding. Please refer to [Migration Guide](https://mmaction2.readthedocs.io/en/latest/migration.html) for more details.**
 
-**Release (2023.07.04)**: v1.1.0 with the following new features:
-
-- Support CLIP-based multi-modality models: ActionCLIP(Arxiv'2021) and CLIP4clip(ArXiv'2022)
-- Support rich projects: gesture recognition, spatio-temporal action detection tutorial, and knowledge distillation
-- Support HACS-segments dataset(ICCV'2019), MultiSports dataset(ICCV'2021), Kinetics-710 dataset(Arxiv'2022)
-- Support VideoMAE V2(CVPR'2023), and VideoMAE(NeurIPS'2022) on action detection
-- Support TCANet(CVPR'2021)
-- Support [Pure Python style Configuration File](https://mmengine.readthedocs.io/en/latest/advanced_tutorials/config.html#a-pure-python-style-configuration-file-beta) and downloading datasets by MIM with one command
+**Release (2023.10.12)**: v1.2.0 with the following new features:
+
+- Support VindLU multi-modality algorithm and the Training of ActionClip
+- Support lightweight model MobileOne TSN/TSM
+- Support video retrieval dataset MSVD
+- Support SlowOnly K700 feature to train localization models
+- Support Video and Audio Demos
 
 ## 📖 Introduction [🔝](#-table-of-contents)
 
diff --git a/docs/en/notes/changelog.md b/docs/en/notes/changelog.md
index 66dfd3b144..f6383f2863 100644
--- a/docs/en/notes/changelog.md
+++ b/docs/en/notes/changelog.md
@@ -1,5 +1,33 @@
 # Changelog
 
+## 1.2.0 (10/12/2023)
+
+**Highlights**
+
+- Support the Training of ActionClip
+- Support VindLU multi-modality algorithm
+- Support MobileOne TSN/TSM
+
+**New Features**
+
+- Support the Training of ActionClip ([2620](https://github.com/open-mmlab/mmaction2/pull/2620))
+- Support video retrieval dataset MSVD ([2622](https://github.com/open-mmlab/mmaction2/pull/2622))
+- Support VindLU multi-modality algorithm ([2667](https://github.com/open-mmlab/mmaction2/pull/2667))
+- Support Dense Regression Network for Video Grounding ([2668](https://github.com/open-mmlab/mmaction2/pull/2668))
+
+**Improvements**
+
+- Support Video Demos ([2602](https://github.com/open-mmlab/mmaction2/pull/2602))
+- Support Audio Demos ([2603](https://github.com/open-mmlab/mmaction2/pull/2603))
+- Add README_zh-CN.md for Swin and VideoMAE ([2621](https://github.com/open-mmlab/mmaction2/pull/2621))
+- Support MobileOne TSN/TSM ([2656](https://github.com/open-mmlab/mmaction2/pull/2656))
+- Support SlowOnly K700 feature to train localization models ([2673](https://github.com/open-mmlab/mmaction2/pull/2673))
+
+**Bug Fixes**
+
+- Refine ActionDataSample structure ([2658](https://github.com/open-mmlab/mmaction2/pull/2658))
+- Fix MPS device ([2619](https://github.com/open-mmlab/mmaction2/pull/2619))
+
 ## 1.1.0 (7/3/2023)
 
 **Highlights**
diff --git a/mmaction/version.py b/mmaction/version.py
index acae488d8a..94905dc04e 100644
--- a/mmaction/version.py
+++ b/mmaction/version.py
@@ -1,6 +1,6 @@
 # Copyright (c) Open-MMLab. All rights reserved.
 
-__version__ = '1.1.0'
+__version__ = '1.2.0'
 
 
 def parse_version_info(version_str: str):