diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index 3f3c86274..e43b8b100 100644
--- a/Lib/fontTools/__init__.py
+++ b/Lib/fontTools/__init__.py
@@ -3,6 +3,6 @@ from fontTools.misc.loggingTools import configLogger
 
 log = logging.getLogger(__name__)
 
-version = __version__ = "4.39.1.dev0"
+version = __version__ = "4.39.1"
 
 __all__ = ["version", "log", "configLogger"]
diff --git a/NEWS.rst b/NEWS.rst
index 3e0b43a83..446a06006 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,6 @@
+4.39.1 (released 2023-03-16)
+----------------------------
+
 - [avar2] Added experimental support for reading/writing avar version 2 as specified in
   this draft proposal: https://github.com/harfbuzz/boring-expansion-spec/blob/main/avar2.md
 - [glifLib] Wrap underlying XML library exceptions with GlifLibError when parsing GLIFs,
diff --git a/setup.cfg b/setup.cfg
index d942fa767..95130085d 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 4.39.1.dev0
+current_version = 4.39.1
 commit = True
 tag = False
 tag_name = {new_version}
diff --git a/setup.py b/setup.py
index df9f82414..5dc9dc19d 100755
--- a/setup.py
+++ b/setup.py
@@ -467,7 +467,7 @@ if ext_modules:
 
 setup_params = dict(
     name="fonttools",
-    version="4.39.1.dev0",
+    version="4.39.1",
     description="Tools to manipulate font files",
     author="Just van Rossum",
     author_email="just@letterror.com",