diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index 0fc2fec84..7759df775 100644
--- a/Lib/fontTools/__init__.py
+++ b/Lib/fontTools/__init__.py
@@ -4,6 +4,6 @@ from fontTools.misc.loggingTools import configLogger
 
 log = logging.getLogger(__name__)
 
-version = __version__ = "4.7.1.dev0"
+version = __version__ = "4.8.0"
 
 __all__ = ["version", "log", "configLogger"]
diff --git a/NEWS.rst b/NEWS.rst
index 9660c7388..f771591a1 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,6 @@
+4.8.0 (released 2020-04-16)
+---------------------------
+
 - [feaLib] If Parser is initialized without a ``glyphNames`` parameter, it cannot
   distinguish between a glyph name containing an hyphen, or a range of glyph names;
   instead of raising an error, it now interprets them as literal glyph names, while
diff --git a/setup.cfg b/setup.cfg
index 92b7a0101..21704feb5 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 4.7.1.dev0
+current_version = 4.8.0
 commit = True
 tag = False
 tag_name = {new_version}
diff --git a/setup.py b/setup.py
index 10318f7f9..20fee0b72 100755
--- a/setup.py
+++ b/setup.py
@@ -437,7 +437,7 @@ if ext_modules:
 
 setup_params = dict(
 	name="fonttools",
-	version="4.7.1.dev0",
+	version="4.8.0",
 	description="Tools to manipulate font files",
 	author="Just van Rossum",
 	author_email="just@letterror.com",