diff --git a/CHANGELOG.md b/CHANGELOG.md
index 8c4a31f0affcea..0d91df6fc78ebf 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,22 @@
 # [Versions](https://mui.com/versions/)
 
+## v5.16.3
+<!-- generated comparing v5.16.2..master -->
+_Jul 16, 2024_
+
+A big thanks to the 3 contributors who made this release possible.
+
+### `@mui/material@5.16.3`
+
+- &#8203;<!-- 1 -->[material] Add missing dependency (#42959) @mnajdova
+
+### Docs
+
+- &#8203;<!-- 3 -->[material-ui][Autocomplete] Add instructions about `autosuggest-highlight` dependency (#42953) @HoFa1997
+- &#8203;<!-- 2 -->Move feedback from Canny to GitHub @oliviertassinari
+
+All contributors of this release in alphabetical order: @HoFa1997, @mnajdova, @oliviertassinari
+
 ## v5.16.2
 
 <!-- generated comparing v5.16.1..master -->
diff --git a/package.json b/package.json
index 4fe5d03fbc8b8d..24c886b0af3fc3 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@mui/monorepo",
-  "version": "5.16.2",
+  "version": "5.16.3",
   "private": true,
   "scripts": {
     "preinstall": "npx only-allow pnpm",
diff --git a/packages/mui-core-downloads-tracker/package.json b/packages/mui-core-downloads-tracker/package.json
index 2a24902ded7239..9bfdfbb299aa27 100644
--- a/packages/mui-core-downloads-tracker/package.json
+++ b/packages/mui-core-downloads-tracker/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@mui/core-downloads-tracker",
-  "version": "5.16.2",
+  "version": "5.16.3",
   "private": false,
   "author": "MUI Team",
   "description": "Internal package to track number of downloads of our design system libraries",
diff --git a/packages/mui-docs/package.json b/packages/mui-docs/package.json
index 7af319b096461c..9e1ff25cdfea44 100644
--- a/packages/mui-docs/package.json
+++ b/packages/mui-docs/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@mui/docs",
-  "version": "5.16.2",
+  "version": "5.16.3",
   "private": false,
   "author": "MUI Team",
   "description": "MUI Docs - Documentation building blocks.",
diff --git a/packages/mui-icons-material/package.json b/packages/mui-icons-material/package.json
index 01831c4af9ee74..69a26ba60f88bc 100644
--- a/packages/mui-icons-material/package.json
+++ b/packages/mui-icons-material/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@mui/icons-material",
-  "version": "5.16.2",
+  "version": "5.16.3",
   "private": false,
   "author": "MUI Team",
   "description": "Material Design icons distributed as SVG React components.",
diff --git a/packages/mui-material/package.json b/packages/mui-material/package.json
index 4ea885816b1010..d7b40e74416315 100644
--- a/packages/mui-material/package.json
+++ b/packages/mui-material/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@mui/material",
-  "version": "5.16.2",
+  "version": "5.16.3",
   "private": false,
   "author": "MUI Team",
   "description": "Material UI is an open-source React component library that implements Google's Material Design. It's comprehensive and can be used in production out of the box.",
diff --git a/packages/mui-styles/package.json b/packages/mui-styles/package.json
index 67f836cc3547ff..199322849e83f7 100644
--- a/packages/mui-styles/package.json
+++ b/packages/mui-styles/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@mui/styles",
-  "version": "5.16.2",
+  "version": "5.16.3",
   "private": false,
   "author": "MUI Team",
   "description": "MUI Styles - The legacy JSS-based styling solution of Material UI.",