diff --git a/CHANGES.md b/CHANGES.md
index 72e8d64cf7..fa03b2531a 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,3 +1,14 @@
+Synapse 1.49.0 (2021-12-14)
+===========================
+
+No significant changes since version 1.49.0rc1.
+
+For users of Ubuntu 21.04 (Hirsute Hippo), please be aware that [upstream support for this version of Ubuntu will end next month][Ubuntu2104EOL].
+We will stop producing packages for Ubuntu 21.04 after upstream support ends.
+
+[Ubuntu2104EOL]: https://lists.ubuntu.com/archives/ubuntu-announce/2021-December/000275.html
+
+
 Synapse 1.49.0rc1 (2021-12-07)
 ==============================
 
diff --git a/debian/changelog b/debian/changelog
index acc9f6049e..794d8efa40 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.49.0) stable; urgency=medium
+
+  * New synapse release 1.49.0.
+
+ -- Synapse Packaging team <packages@matrix.org>  Tue, 14 Dec 2021 12:39:46 +0000
+
 matrix-synapse-py3 (1.49.0~rc1) stable; urgency=medium
 
   * New synapse release 1.49.0~rc1.
diff --git a/synapse/__init__.py b/synapse/__init__.py
index 6369f18a53..d44a03a2cb 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -47,7 +47,7 @@ try:
 except ImportError:
     pass
 
-__version__ = "1.49.0rc1"
+__version__ = "1.49.0"
 
 if bool(os.environ.get("SYNAPSE_TEST_PATCH_LOG_CONTEXTS", False)):
     # We import here so that we don't have to install a bunch of deps when