diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5d45e926416..420888118c3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -12,6 +12,7 @@
  * `MerkleProof`: optimize by using unchecked arithmetic. ([#3869](https://github.com/OpenZeppelin/openzeppelin-contracts/pull/3869))
  * `EnumerableMap`: add a `keys()` function that returns an array containing all the keys. ([#3920](https://github.com/OpenZeppelin/openzeppelin-contracts/pull/3920))
  * `Ownable2Step`: make `acceptOwnership` public virtual to enable usecases that require overriding it. ([#3960](https://github.com/OpenZeppelin/openzeppelin-contracts/pull/3960))
+ * `Multicall`: annotate `multicall` function as upgrade safe to not raise a flag for its delegatecall. ([#3961](https://github.com/OpenZeppelin/openzeppelin-contracts/pull/3961))
 
 ### Deprecations
 
diff --git a/contracts/utils/Multicall.sol b/contracts/utils/Multicall.sol
index bdb820139c9..f79af0906ad 100644
--- a/contracts/utils/Multicall.sol
+++ b/contracts/utils/Multicall.sol
@@ -14,6 +14,7 @@ abstract contract Multicall {
     /**
      * @dev Receives and executes a batch of function calls on this contract.
      */
+    /// @custom:oz-upgrades-unsafe-allow delegatecall
     function multicall(bytes[] calldata data) external virtual returns (bytes[] memory results) {
         results = new bytes[](data.length);
         for (uint256 i = 0; i < data.length; i++) {