diff --git a/tokio-util/CHANGELOG.md b/tokio-util/CHANGELOG.md
index 0c11b2144eb..db60574653f 100644
--- a/tokio-util/CHANGELOG.md
+++ b/tokio-util/CHANGELOG.md
@@ -1,3 +1,30 @@
+# 0.7.8 (April 25th, 2023)
+
+This release bumps the MSRV of tokio-util to 1.56.
+
+### Added
+
+- time: add `DelayQueue::peek` ([#5569])
+
+### Changed
+
+This release contains one performance improvement:
+
+- sync: try to lock the parent first in `CancellationToken` ([#5561])
+
+### Fixed
+
+- time: fix panic in `DelayQueue` ([#5630])
+
+### Documented
+
+- sync: improve `CancellationToken` doc on child tokens ([#5632])
+
+[#5561]: https://github.com/tokio-rs/tokio/pull/5561
+[#5569]: https://github.com/tokio-rs/tokio/pull/5569
+[#5630]: https://github.com/tokio-rs/tokio/pull/5630
+[#5632]: https://github.com/tokio-rs/tokio/pull/5632
+
 # 0.7.7 (February 12, 2023)
 
 This release reverts the removal of the `Encoder` bound on the `FramedParts`
diff --git a/tokio-util/Cargo.toml b/tokio-util/Cargo.toml
index 3f4c60e35ed..b6ae0166a4b 100644
--- a/tokio-util/Cargo.toml
+++ b/tokio-util/Cargo.toml
@@ -4,7 +4,7 @@ name = "tokio-util"
 # - Remove path dependencies
 # - Update CHANGELOG.md.
 # - Create "tokio-util-0.7.x" git tag.
-version = "0.7.7"
+version = "0.7.8"
 edition = "2021"
 rust-version = "1.56"
 authors = ["Tokio Contributors <team@tokio.rs>"]