diff --git a/CHANGELOG.md b/CHANGELOG.md
index c3d3d60250..d08a1a8299 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,4 @@
-## UNRELEASED
+## 1.8.0-beta1 (May 14, 2020)
 
 FEATURES:
 
diff --git a/version/version.go b/version/version.go
index 760dae108d..7c9752536b 100644
--- a/version/version.go
+++ b/version/version.go
@@ -15,12 +15,12 @@ var (
 	//
 	// Version must conform to the format expected by github.com/hashicorp/go-version
 	// for tests to work.
-	Version = "1.7.0"
+	Version = "1.8.0"
 
 	// A pre-release marker for the version. If this is "" (empty string)
 	// then it means that it is a final release. Otherwise, this is a pre-release
 	// such as "dev" (in development), "beta", "rc1", etc.
-	VersionPrerelease = "dev"
+	VersionPrerelease = "beta1"
 )
 
 // GetHumanVersion composes the parts of the version in a way that's suitable