diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index def0e8d7e..c781565d5 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__ = "4.47.1.dev0"
+version = __version__ = "4.47.1"
 
 __all__ = ["version", "log", "configLogger"]
diff --git a/NEWS.rst b/NEWS.rst
index 59fb3ec8b..be6d3cc82 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,6 @@
+4.47.1 (released 2024-01-11)
+----------------------------
+
 - [merge] Improve help message and add standard command line options (#3408)
 - [otlLib] Pass ``ttFont`` to ``name.addName`` in ``buildStatTable`` (#3406)
 - [featureVars] Re-use ``FeatureVariationRecord``s when possible (#3413)
diff --git a/setup.cfg b/setup.cfg
index cbae88de0..071d5f893 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 4.47.1.dev0
+current_version = 4.47.1
 commit = True
 tag = False
 tag_name = {new_version}
diff --git a/setup.py b/setup.py
index 74d062dc5..b9680a5ec 100755
--- a/setup.py
+++ b/setup.py
@@ -470,7 +470,7 @@ if ext_modules:
 
 setup_params = dict(
     name="fonttools",
-    version="4.47.1.dev0",
+    version="4.47.1",
     description="Tools to manipulate font files",
     author="Just van Rossum",
     author_email="just@letterror.com",