diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index 8d74bf8ce..20f8bb578 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__ = "4.34.1.dev0"
+version = __version__ = "4.34.1"
 
 __all__ = ["version", "log", "configLogger"]
diff --git a/NEWS.rst b/NEWS.rst
index 0a0108554..bfadd7675 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,6 @@
+4.34.1 (released 2022-07-06)
+----------------------------
+
 - [instancer] When optimizing HVAR/VVAR VarStore, use_NO_VARIATION_INDEX=False to avoid
   including NO_VARIATION_INDEX in AdvWidthMap, RsbMap, LsbMap mappings, which would
   push the VarIdx width to maximum (4bytes), which is not desirable. This also fixes
diff --git a/setup.cfg b/setup.cfg
index 88f8255b2..bd5ff4479 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 4.34.1.dev0
+current_version = 4.34.1
 commit = True
 tag = False
 tag_name = {new_version}
diff --git a/setup.py b/setup.py
index 7101c5316..ad9ba85d6 100755
--- a/setup.py
+++ b/setup.py
@@ -443,7 +443,7 @@ if ext_modules:
 
 setup_params = dict(
 	name="fonttools",
-	version="4.34.1.dev0",
+	version="4.34.1",
 	description="Tools to manipulate font files",
 	author="Just van Rossum",
 	author_email="just@letterror.com",