diff --git a/changelog.txt b/changelog.txt
index 39107c360d9..cb26771f944 100644
--- a/changelog.txt
+++ b/changelog.txt
@@ -1,5 +1,107 @@
 == Changelog ==
 
+= 4.9.0 =
+
+**WooCommerce**
+* Localization - Add 'Ladakh' to the list of Indian states. #28458
+* Localization - Revert change and make city and postcode required again for Serbia. #28415
+* Performance - Added cache and filter for wc-customer get operations. #27352
+* Performance - Hydrate caches for wc_get_order to improve performance. #27734
+* Performance - Fetch only required data from DB when possible in API calls. #27735
+* Enhancement - add product and variation before_set_stock action hooks to allow 3rd party plugins to snapshot a product’s stock quantity before it is updated. #27558
+* Enhancement - Add the ability to avoid unsupported updates based on the PHP version. #28151
+* Fix - Format tax class before insertion to prevent conflicts with default classes. #27451
+* Fix - Change href of premium support link. #27675
+* Fix - `get_next` will now return null if the same action is currently executing to help with missed webhooks issue. #27850
+* Fix - Return default date/time formats from wc_date_format and wc_time_format if WP core formats are empty. #28322
+* Fix - Use WC function to get low stock amount instead of accessing option directly. #28440
+* Fix - Use single quotes inside MySQL query to avoid issues when ANSI_QUOTES is enabled. #28468
+* Fix - Remove deprecated PayPal Standard "Page Style" setting. #28499
+* Fix - Remove GB and IM from EU VAT countries. #28538
+* Fix - Fix issue where customer could checkout although mandatory field "Country" was not given. #28543
+* Fix - Switch to general tab when enabling virtual on a product setting. #28414
+* Fix - Unwanted HTML is showing up on the product search fields when searching for a product variation. #28416
+* Fix - Add `postbox` class to `woocommerce_attribute wc-metabox` for proper targeting. #28351
+* Fix - Error tooltip misaligned on tax country field. #28565
+* Dev - Hook for intializing price slider in frontend. #28014
+* Dev - Add support for running a custom initialization script for tests. #28041
+* Dev - Use the coenjacobs/mozart package to renamespace vendor packages. #28147
+* Dev - Documentation for `wc_get_container`. #28269
+* Dev - Removed unused dockerfile. #28270
+* Dev - replaces deprecated jQuery.fn.click( handler ) with jQuery.fn.on( 'click', handler ). #28332
+* Dev - removed jQuery code that didn't work that was supposed to interact with the coupon page. #28287
+* Dev - Documentation return type fixes for WC_Payment_Gateway class. #28358
+* Dev - Remove function existence check for determine_locale. #28386
+* Dev - add a missing second parameter to our copy of the WP action lostpassword_post. #28467
+* Dev - Added argument on wc_get_template() to pass email object to email header and footer templates. #28204
+* Dev - Add is_numeric checks on sales reports by date to prevent notices with PHP 7.4. #28403
+
+**WooCommerce - Admin 1.8.0 & 1.8.1**
+* Enhancement - Add “filter by variations in reports” inbox note. #5208
+* Enhancement - Tasks extensibility in Home Screen. #5794
+* Enhancement - Add page parameter to override default wc-admin page in Navigation API. #5821
+* Enhancement - Introduce the customer effort score (CES) feature.
+* Enhancement - Rework task extensibility in the homescreen. #5794
+* Enhancement - Migrate the reviews panel to the homescreen. #5706
+* Enhancement - Migrate reviews panel to home screen. #5706
+* Enhancement - Add Razorpay to payment task for stores in India – #5775
+* Enhancement - Migrate Stock Panel to Homescreen. #5729
+* Enhancement - Add enhanced placeholders for Marketing components. #5611
+* Enhancement - Allow switching on/off the navigation feature in plugin and core builds. #5697
+* Fix - Product exclusion filter on Orders Report.
+* Fix - Typo in Variation Stats DataStore context filter value. #5784
+* Fix - Move collapsible config to panels object, to allow for more control. #5855
+* Fix - Invalidate product count if the last product was updated in the list. #5790
+* Fix - Add Customer Type column to the Orders report table. #5820
+* Fix - Product exclusion filter on Orders Report. #5822
+* Fix - Show the customer type column in Orders report table. #5820
+* Fix - make sure ‘Customers’ page updates after order update. #5776
+* Fix - Fix fatal errors when child themes are installed in a subdirectory. #5783
+* Fix - Allow actionable statuses in orders endpoint(s) filters. #5733
+* Fix - snackbar dismissal bug. #5696
+* Fix - Only import the Gridicons we need, to reduce package size. #5668
+* Fix - Stop order panels flickering on load. #5655
+* Fix - Load wc-tracks to avoid fatal errors. #5645 #5638
+* Fix - Preventing desktop-sized navigation placeholder from appearing on mobile during load. #5616
+* Tweak - Fix inconsistent REST API parameter name for customer type filtering. #5823
+* Tweak - Improve styles of the tax task. #5709
+* Tweak - Do not show store setup link on the homescreen. #5801
+* Tweak - Revert the #5001 work to order tasks by completion. #5721
+* Tweak - Revert the smart tax defaults work. #5720
+* Tweak - Do not show store setup activity panel on the homescreen. #5801
+* Tweak - Don’t show the Orders panel on the homescreen with the Task List. #5552
+* Tweak - Continue showing tasklist even if list is complete, only hide if set to hidden. #5673
+* Tweak - Remove check for Jetpack and WCS from Stripe onboarding task. #4933
+
+**WooCommerce Blocks 3.9.0 & 4.0.0**
+* Enhancements - Expose `discount_type` in Store API coupon endpoints. ([3399](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3399))
+* Enhancements - Exclude checkout-draft orders from WC Admin reports and My Account > Orders. ([3379](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3379))
+* Fix - Hide spinner on cart block's "Proceed to Checkout" link when page unloads. ([3436](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3436))
+* Fix - Fixed express payment methods processing not completing when Stripe payment method active. ([3432](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3432))
+* Fix - Refresh PaymentRequest after cancelling payment to prevent addresses remaining populated on repeat attempts. ([3430](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3430))
+* Fix - Ensure "Add a note to your order" section is styled correctly when disabled. ([3427](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3427))
+* Fix - Prevent checkout step heading text overlapping actual heading on small viewports. ([3425](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3425))
+* Fix - Improve Stripe payment request API payment method availability. ([3424](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3424))
+* Fix - Stop hidden products from being linked in cart and checkout blocks. ([3415](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3415))
+* Fix - Show Express Payment Method Error Notices after Payment Failure. ([3410](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3410))
+* Fix - Fix cart block `isLarge` console error in the editor when running WordPress 5.6 beta. ([3408](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3408))
+* Fix - Orders not being placed when paying with an Express payment method from the Cart block. ([3403](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3403))
+* Fix - Fix incorrect usage of static method in Stripe payment method integration. ([3400](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3400))
+* Fix - Cart and checkout should respect the global "Hide shipping costs until an address is entered" setting. ([3383](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3383))
+* Fix - Sync shipping address with billing address when shipping address fields are disabled. This fixes a bug where taxes would not reflect changes in billing address when they are set to be calculated from billing address ([3358](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3358))
+* Fix - Checkout block: Prevent `Create an account` from creating up a user account if the order fails coupon validation. ([3423](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3423))
+* Fix - Make sure cart is initialized before the CartItems route is used in the Store API. ([3488](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3488))
+* Fix - Fix notice close button color in Twenty Twenty One dark mode. ([3472](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3472))
+* Fix - Remove held stock for a draft order if an item is removed from the cart. ([3468](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3468))
+* Fix - Ensure correct alignment of checkout notice's dismiss button. ([3455](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3455))
+* Fix - Fixed a bug in Checkout block (Store API) causing checkout to fail when using an invalid coupon and creating an account.
+* Fix - Checkout block: Correctly handle cases where the order fails with an error (e.g. invalid coupon) and a new user account is created. ([3429](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3429))
+* Dev - Refactored and reordered Store API checkout processing to handle various edge cases and better support future extensibility. ([3454](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3454))
+* Dev - Support a plain js configuration argument to payment method registration APIs. ([3404](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3404))
+* Dev - Change register_endpoint_data to use an array of params instead of individual params. ([3478](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3478))
+* Dev - Expose store/cart via ExtendRestApi to extensions. ([3445](https://github.com/woocommerce/woocommerce-gutenberg-products-block/pull/3445))
+* Dev - Added formatting classes to the Store API for extensions to consume.
+
 = 4.8.0 - 2020-12-08 =
 
 **WooCommerce**