diff --git a/docs/INSTALL.rst b/docs/INSTALL.rst
index d9de1cb..d555476 100644
--- a/docs/INSTALL.rst
+++ b/docs/INSTALL.rst
@@ -73,7 +73,7 @@
 
 The first step is to obtain the source code for NFD and its main dependency, the
 *ndn-cxx* library. If you do not want a development version of NFD, make sure you
-checkout the correct release tag (e.g., ``*-0.7.0``) from both repositories.
+checkout the correct release tag (e.g., ``*-0.7.1``) from both repositories.
 
 .. code-block:: sh
 
diff --git a/docs/release-notes-latest.rst b/docs/release-notes-latest.rst
index 0901573..7d29971 120000
--- a/docs/release-notes-latest.rst
+++ b/docs/release-notes-latest.rst
@@ -1 +1 @@
-release-notes/release-notes-0.7.0.rst
\ No newline at end of file
+release-notes/release-notes-0.7.1.rst
\ No newline at end of file
diff --git a/docs/release-notes/release-notes-0.7.1.rst b/docs/release-notes/release-notes-0.7.1.rst
new file mode 100644
index 0000000..a3e6b0b
--- /dev/null
+++ b/docs/release-notes/release-notes-0.7.1.rst
@@ -0,0 +1,56 @@
+NFD version 0.7.1
+-----------------
+
+Release date: October 8, 2020
+
+The build requirements have been increased to require Clang >= 4.0, Xcode >= 9.0, and Python 3.
+Meanwhile, it is *recommended* to use GCC >= 7.4.0 and Boost >= 1.65.1.
+This effectively drops official support for Ubuntu 16.04 when using distribution-provided Boost
+packages -- NFD may still work on this platform, but we provide no official support for it.
+Additionally, this release drops support for CentOS 7.
+
+New features
+^^^^^^^^^^^^
+
+- Allow Ethernet face MTU to adjust to changes in underlying interface MTU (:issue:`3257`)
+
+- Allow face MTU to be overriden via management (:issue:`5056`)
+
+- Deduplicate received link-layer packets when link-layer reliability is enabled (:issue:`5079`)
+
+- Add support for the ``HopLimit`` Interest element (:issue:`4806`)
+
+- Add counter for unsolicited data
+
+Improvements and bug fixes
+^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+- Fix PIT entry rejection in ``MulticastStrategy`` upon receiving the same Interest (:issue:`5123`)
+
+- If no face exists when a route is added via nfdc, nfdc will attempt to create it (:issue:`4332`)
+
+- Attach PIT tokens after CS hit (:issue:`5090`)
+
+- ``nfdc cs erase`` will now erase up to the specified count (:issue:`4744`)
+
+- Improve ``LpReliability`` logging (:issue:`5080`)
+
+- Use standard path for Unix stream socket on Linux (:issue:`5039`)
+
+- Adjust timeout sensitivity and avoid ignoring additional probe responses in ASF strategy
+  (:issue:`4983`, :issue:`4193`)
+
+- Bug fixes in config file processing (:issue:`4489`)
+
+- Fix incompatibility with version header in C++20
+
+- Fix integer overflow in PIT ``FaceRecord`` (:issue:`4979`)
+
+- Various improvements to documentation, test suites, and authors list
+
+Removals
+^^^^^^^^
+
+- Delete deprecated uses of default SigningInfo (:issue:`4804`)
+
+- Remove Endpoint IDs from egress APIs (:issue:`4843`, :issue:`4849`, :issue:`4973`)
diff --git a/docs/releases.rst b/docs/releases.rst
index 5a53613..e190cb3 100644
--- a/docs/releases.rst
+++ b/docs/releases.rst
@@ -5,6 +5,7 @@
    :hidden:
    :maxdepth: 1
 
+   release-notes/release-notes-0.7.1
    release-notes/release-notes-0.7.0
    release-notes/release-notes-0.6.6
    release-notes/release-notes-0.6.5
@@ -25,6 +26,12 @@
    release-notes/release-notes-0.2.0
    release-notes/release-notes-0.1.0
 
+* **NFD version 0.7.1**
+  (:doc:`Release Notes <release-notes/release-notes-0.7.1>`, `Documentation <https://named-data.net/doc/NFD/0.7.1/>`__)
+
+  `src (git) <https://github.com/named-data/NFD/releases/tag/NFD-0.7.1>`__,
+  `src (tarball) <https://named-data.net/downloads/nfd-0.7.1.tar.bz2>`__ (`checksum <https://named-data.net/downloads/nfd-0.7.1.tar.bz2.sha256>`__)
+
 * **NFD version 0.7.0**
   (:doc:`Release Notes <release-notes/release-notes-0.7.0>`, `Documentation <https://named-data.net/doc/NFD/0.7.0/>`__)
 
diff --git a/tests/core/version.t.cpp b/tests/core/version.t.cpp
index 2675c0e..c2e12fb 100644
--- a/tests/core/version.t.cpp
+++ b/tests/core/version.t.cpp
@@ -1,6 +1,6 @@
 /* -*- Mode:C++; c-file-style:"gnu"; indent-tabs-mode:nil; -*- */
 /*
- * Copyright (c) 2014-2019,  Regents of the University of California,
+ * Copyright (c) 2014-2020,  Regents of the University of California,
  *                           Arizona Board of Regents,
  *                           Colorado State University,
  *                           University Pierre & Marie Curie, Sorbonne University,
@@ -55,9 +55,6 @@
   ::snprintf(buf, sizeof(buf), "%d.%d.%d", NFD_VERSION_MAJOR, NFD_VERSION_MINOR, NFD_VERSION_PATCH);
 
   BOOST_CHECK_EQUAL(NFD_VERSION_STRING, buf);
-
-  std::string build(NFD_VERSION_BUILD_STRING);
-  BOOST_CHECK_EQUAL(build.substr(0, build.find_first_of('-')), NFD_VERSION_STRING);
 }
 
 BOOST_AUTO_TEST_SUITE_END() // TestVersion
diff --git a/wscript b/wscript
index 42e87c4..15cb62d 100644
--- a/wscript
+++ b/wscript
@@ -26,7 +26,7 @@
 from waflib import Context, Logs, Utils
 import os, subprocess
 
-VERSION = '0.7.0'
+VERSION = '0.7.1'
 APPNAME = 'nfd'
 BUGREPORT = 'https://redmine.named-data.net/projects/nfd'
 URL = 'https://named-data.net/doc/NFD/'