diff --git a/CHANGELOG.md b/CHANGELOG.md
index e345d79132..3727714b0c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,24 @@
 # PowerShell Extension Release History
 
+## v2022.7.1-preview
+### Monday, July 25, 2022
+
+#### [vscode-powershell](https://github.com/PowerShell/vscode-powershell)
+
+- ✨ 📟 [vscode-powershell #4053](https://github.com/PowerShell/vscode-powershell/pull/4090) - Rename "Integrated Console" to "Extension Terminal".
+- ✨ 🚨 [vscode-powershell #4089](https://github.com/PowerShell/vscode-powershell/pull/4089) - Update and extend CI matrix.
+- ✨ 🚂 [vscode-powershell #4088](https://github.com/PowerShell/vscode-powershell/pull/4088) - Use `context.storageUri` for session file (and refactor).
+- ✨ 🔧 [vscode-powershell #4067](https://github.com/PowerShell/vscode-powershell/pull/4071) - Use `context.storageUri` for logs and support `None` level.
+- ✨ 🔧 [vscode-powershell #4064](https://github.com/PowerShell/vscode-powershell/pull/4064) - Add multi-root choice experience to `powershell.cwd`.
+
+#### [PowerShellEditorServices](https://github.com/PowerShell/PowerShellEditorServices)
+
+- ✨ 🚨 [PowerShellEditorServices #1861](https://github.com/PowerShell/PowerShellEditorServices/pull/1861) - Add `DebuggerBreaksInUntitledScript` unit test.
+- ✨ 📟 [PowerShellEditorServices #1860](https://github.com/PowerShell/PowerShellEditorServices/pull/1860) - Rename "Integrated Console" to "Extension Terminal".
+- ✨ 🚨 [PowerShellEditorServices #1859](https://github.com/PowerShell/PowerShellEditorServices/pull/1859) - Update and extend CI matrix.
+- ✨ 🚨 [PowerShellEditorServices #1858](https://github.com/PowerShell/PowerShellEditorServices/pull/1858) - Add regression test for debugging script with dot-source operator.
+- ✨ 🚨 [PowerShellEditorServices #1857](https://github.com/PowerShell/PowerShellEditorServices/pull/1857) - Add regression test for `$PSDebugContext` in `prompt` function.
+
 ## v2022.7.0-preview
 ### Monday, July 11, 2022
 
diff --git a/package.json b/package.json
index 0f4c19f590..5362e5c8ae 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
   "name": "powershell-preview",
   "displayName": "PowerShell Preview",
-  "version": "2022.7.0",
+  "version": "2022.7.1",
   "preview": true,
   "publisher": "ms-vscode",
   "description": "(Preview) Develop PowerShell modules, commands and scripts in Visual Studio Code!",