diff --git a/docs/conf.py b/docs/conf.py
index 1b0551519..21eb8e30c 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -16,7 +16,7 @@
 project = 'Python SDK reference'
 copyright = '2025, Labelbox'
 author = 'Labelbox'
-release = '7.15.0'
+release = '7.16.0'
 
 # -- General configuration ---------------------------------------------------
 
diff --git a/libs/labelbox/CHANGELOG.md b/libs/labelbox/CHANGELOG.md
index 80383a248..6c4356455 100644
--- a/libs/labelbox/CHANGELOG.md
+++ b/libs/labelbox/CHANGELOG.md
@@ -1,4 +1,13 @@
 # Changelog
+# Version 7.16.0 (2026-10-20)
+## Added
+* Add `Project.label_versions()`, `Label.versions()` and `Client.get_label_version()`, which read a label's recorded versions: one per hand-off (submit, save, review approve or reject, rework), with who made it, when, at which workflow step, and the annotations at that moment. Versions are recorded once label version history is enabled for the project ([#2086](https://github.com/Labelbox/labelbox-python/pull/2086))
+* Add `LabelVersion`, `LabelVersionAction` and `LabelVersionStage` ([#2086](https://github.com/Labelbox/labelbox-python/pull/2086))
+* Add `Organization.invite_users()`, which invites many people at once, workspace-wide or to projects and user groups, and returns one result per address. One bad address doesn't stop the others, and sending the same list again is safe ([#2085](https://github.com/Labelbox/labelbox-python/pull/2085))
+* Add `InviteResult` and `InviteMemberStatus` ([#2085](https://github.com/Labelbox/labelbox-python/pull/2085))
+## Fixed
+* Serializing a raster mask to NDJSON no longer fails with Pillow 13 ("Invalid mode for data type") ([#2086](https://github.com/Labelbox/labelbox-python/pull/2086))
+
 # Version 7.15.0 (2026-10-16)
 ## Added
 * Add `Client.get_sign_in_sessions()` and `Client.get_sign_in_events()`, which return the sign-in history of your organization's members: each sign-in session with how and when it ended, and a feed of sign-ins and sign-outs for incremental pulls. A session with no recorded end is reported as ended when its maximum length ran out, which is not when the member stopped working ([#2083](https://github.com/Labelbox/labelbox-python/pull/2083))
diff --git a/libs/labelbox/pyproject.toml b/libs/labelbox/pyproject.toml
index 0461d2c64..901e3a88e 100644
--- a/libs/labelbox/pyproject.toml
+++ b/libs/labelbox/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "labelbox"
-version = "7.15.0"
+version = "7.16.0"
 description = "Labelbox Python API"
 authors = [{ name = "Labelbox", email = "engineering@labelbox.com" }]
 dependencies = [
diff --git a/libs/labelbox/src/labelbox/__init__.py b/libs/labelbox/src/labelbox/__init__.py
index fbd815b35..06c23b1de 100644
--- a/libs/labelbox/src/labelbox/__init__.py
+++ b/libs/labelbox/src/labelbox/__init__.py
@@ -1,6 +1,6 @@
 name = "labelbox"
 
-__version__ = "7.15.0"
+__version__ = "7.16.0"
 
 from labelbox.client import Client
 from labelbox.schema.annotation_import import (