diff --git a/CHANGELOG.md b/CHANGELOG.md
index e87f08929..fd1703a50 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,25 @@
 # Changelog
 
+## 0.20.0
+
+**Release date:** 2022-04-19
+
+This prerelease adds support for configuring the exponential back-off retry
+using newly introduced flags: `--min-retry-delay` (default: `750ms`) and
+`--max-retry-delay` (default: `15min`). Previously the defaults were set to
+`5ms` and `1000s`.
+
+In addition, all dependencies have been updated to their latest versions,
+including an update of Helm to `v3.8.2`.
+
+Improvements:
+- Add flags for exponential back-off retry
+  [#465](https://github.com/fluxcd/helm-controller/pull/465)
+- Update Helm to v3.8.2
+  [#466](https://github.com/fluxcd/helm-controller/pull/466)
+- Update dependencies
+  [#467](https://github.com/fluxcd/helm-controller/pull/467)
+
 ## 0.19.0
 
 **Release date:** 2022-04-05
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index 06aab7359..77ba659ca 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/helm-controller
     newName: fluxcd/helm-controller
-    newTag: v0.19.0
+    newTag: v0.20.0
diff --git a/go.mod b/go.mod
index 251de038b..73b000b15 100644
--- a/go.mod
+++ b/go.mod
@@ -5,7 +5,7 @@ go 1.17
 replace github.com/fluxcd/helm-controller/api => ./api
 
 require (
-	github.com/fluxcd/helm-controller/api v0.19.0
+	github.com/fluxcd/helm-controller/api v0.20.0
 	github.com/fluxcd/pkg/apis/acl v0.0.3
 	github.com/fluxcd/pkg/apis/kustomize v0.3.3
 	github.com/fluxcd/pkg/apis/meta v0.12.2