diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7c0268a5b..1472d7d34 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,11 @@
 # PowerShell Editor Services Release History
 
+## v3.8.6
+### Tuesday, May 23, 2023
+
+- 🐛 💭 [vscode-powershell #4582](https://github.com/PowerShell/PowerShellEditorServices/pull/2028) - Ignore cancellation of completion requests.
+- 🐛 📟 [vscode-powershell #3991](https://github.com/PowerShell/PowerShellEditorServices/pull/2026) - Fix the `TranscribeOnly` bug (take two).
+
 ## v3.8.5
 ### Friday, May 12, 2023
 
diff --git a/PowerShellEditorServices.Common.props b/PowerShellEditorServices.Common.props
index db9df9e48..6917f6ddf 100644
--- a/PowerShellEditorServices.Common.props
+++ b/PowerShellEditorServices.Common.props
@@ -1,6 +1,6 @@
 <Project>
   <PropertyGroup>
-    <VersionPrefix>3.8.5</VersionPrefix>
+    <VersionPrefix>3.8.6</VersionPrefix>
     <VersionSuffix></VersionSuffix>
     <Company>Microsoft</Company>
     <Copyright>© Microsoft Corporation.</Copyright>
diff --git a/module/PowerShellEditorServices/PowerShellEditorServices.psd1 b/module/PowerShellEditorServices/PowerShellEditorServices.psd1
index 51617a1e3..42986d423 100644
--- a/module/PowerShellEditorServices/PowerShellEditorServices.psd1
+++ b/module/PowerShellEditorServices/PowerShellEditorServices.psd1
@@ -19,7 +19,7 @@ RootModule = if ($PSEdition -eq 'Core')
     }
 
 # Version number of this module.
-ModuleVersion = '3.8.5'
+ModuleVersion = '3.8.6'
 
 # ID used to uniquely identify this module
 GUID = '9ca15887-53a2-479a-9cda-48d26bcb6c47'