diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 4f2fb0487..dbc65c040 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -4,7 +4,7 @@
   "instrumentation/gruf": "0.1.1",
   "instrumentation/grape": "0.1.6",
   "instrumentation/racecar": "0.3.0",
-  "instrumentation/rake": "0.2.1",
+  "instrumentation/rake": "0.3.0",
   "instrumentation/rdkafka": "0.4.2",
   "instrumentation/trilogy": "0.58.0",
   "instrumentation/active_support": "0.5.1",
diff --git a/instrumentation/rake/CHANGELOG.md b/instrumentation/rake/CHANGELOG.md
index 342835891..2c34c1806 100644
--- a/instrumentation/rake/CHANGELOG.md
+++ b/instrumentation/rake/CHANGELOG.md
@@ -1,5 +1,23 @@
 # Release History: opentelemetry-instrumentation-rake
 
+## [0.3.0](https://github.com/yoheyk/opentelemetry-ruby-contrib/compare/opentelemetry-instrumentation-rake-v0.2.1...opentelemetry-instrumentation-rake/v0.3.0) (2024-02-21)
+
+
+### ⚠ BREAKING CHANGES
+
+* Drop support for EoL Ruby 2.7 ([#389](https://github.com/yoheyk/opentelemetry-ruby-contrib/issues/389))
+
+### Features
+
+* Add Rake instrumentation ([#80](https://github.com/yoheyk/opentelemetry-ruby-contrib/issues/80)) ([f0b55c1](https://github.com/yoheyk/opentelemetry-ruby-contrib/commit/f0b55c1b25344a9d5e8d2c441b2799769868e014))
+* Drop support for EoL Ruby 2.7 ([#389](https://github.com/yoheyk/opentelemetry-ruby-contrib/issues/389)) ([233dfd0](https://github.com/yoheyk/opentelemetry-ruby-contrib/commit/233dfd0dae81346e9687090f9d8dfb85215e0ba7))
+
+
+### Bug Fixes
+
+* Base config options ([#499](https://github.com/yoheyk/opentelemetry-ruby-contrib/issues/499)) ([7304e86](https://github.com/yoheyk/opentelemetry-ruby-contrib/commit/7304e86e9a3beba5c20f790b256bbb54469411ca))
+* regex non-match with obfuscation limit (issue [#486](https://github.com/yoheyk/opentelemetry-ruby-contrib/issues/486)) ([#488](https://github.com/yoheyk/opentelemetry-ruby-contrib/issues/488)) ([6a9c330](https://github.com/yoheyk/opentelemetry-ruby-contrib/commit/6a9c33088c6c9f39b2bc30247a3ed825553c07d4))
+
 ### v0.2.1 / 2023-06-05
 
 * FIXED: Base config options 
diff --git a/instrumentation/rake/lib/opentelemetry/instrumentation/rake/version.rb b/instrumentation/rake/lib/opentelemetry/instrumentation/rake/version.rb
index b0aeebb26..2db11acc9 100644
--- a/instrumentation/rake/lib/opentelemetry/instrumentation/rake/version.rb
+++ b/instrumentation/rake/lib/opentelemetry/instrumentation/rake/version.rb
@@ -7,7 +7,7 @@
 module OpenTelemetry
   module Instrumentation
     module Rake
-      VERSION = '0.2.1'
+      VERSION = '0.3.0'
     end
   end
 end