diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9c59ed6..7eacf38 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,11 @@
+# 3.2.1 (2025-02-05)
+
+Changes:
+
+- Fixed an assert in `vmaCreateAllocator` function incorrectly failing when Vulkan version 1.4 is used (#457).
+- Fix for importing function `vkGetPhysicalDeviceMemoryProperties2` / `vkGetPhysicalDeviceMemoryProperties2KHR` when `VMA_DYNAMIC_VULKAN_FUNCTIONS` macro is enabled (#410).
+- Other minor fixes and improvements...
+
 # 3.2.0 (2024-12-30)
 
 Additions to the library API:
diff --git a/CMakeLists.txt b/CMakeLists.txt
index b0b4930..5f31eea 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -22,7 +22,7 @@
 
 cmake_minimum_required(VERSION 3.15...3.26)
 
-project(VMA VERSION 3.2.0 LANGUAGES CXX)
+project(VMA VERSION 3.2.1 LANGUAGES CXX)
 
 add_library(VulkanMemoryAllocator INTERFACE)
 add_library(GPUOpen::VulkanMemoryAllocator ALIAS VulkanMemoryAllocator)
diff --git a/bin/VmaSample_Release_vs2022.exe b/bin/VmaSample_Release_vs2022.exe
index 5237174..2140219 100644
Binary files a/bin/VmaSample_Release_vs2022.exe and b/bin/VmaSample_Release_vs2022.exe differ
diff --git a/docs/html/index.html b/docs/html/index.html
index 9d6b85c..941ba1f 100644
--- a/docs/html/index.html
+++ b/docs/html/index.html
@@ -87,7 +87,7 @@ $(function(){ initResizable(false); });
   <div class="headertitle"><div class="title">Vulkan Memory Allocator </div></div>
 </div><!--header-->
 <div class="contents">
-<div class="textblock"><p><b>Version 3.2.0</b></p>
+<div class="textblock"><p><b>Version 3.2.1</b></p>
 <p>Copyright (c) 2017-2025 Advanced Micro Devices, Inc. All rights reserved. <br  />
 License: MIT <br  />
 See also: <a href="https://gpuopen.com/gaming-product/vulkan-memory-allocator/">product page on GPUOpen</a>, <a href="https://github.com/GPUOpen-LibrariesAndSDKs/VulkanMemoryAllocator">repository on GitHub</a></p>
diff --git a/include/vk_mem_alloc.h b/include/vk_mem_alloc.h
index 8c29d15..6f71d5b 100644
--- a/include/vk_mem_alloc.h
+++ b/include/vk_mem_alloc.h
@@ -25,7 +25,7 @@
 
 /** \mainpage Vulkan Memory Allocator
 
-<b>Version 3.2.0</b>
+<b>Version 3.2.1</b>
 
 Copyright (c) 2017-2025 Advanced Micro Devices, Inc. All rights reserved. \n
 License: MIT \n
diff --git a/src/VulkanSample.cpp b/src/VulkanSample.cpp
index b54c411..bffcffe 100644
--- a/src/VulkanSample.cpp
+++ b/src/VulkanSample.cpp
@@ -36,8 +36,8 @@ static const char* const SHADER_PATH1 = "./Shaders/";
 static const char* const SHADER_PATH2 = "../bin/";
 static const wchar_t* const WINDOW_CLASS_NAME = L"VULKAN_MEMORY_ALLOCATOR_SAMPLE";
 static const char* const VALIDATION_LAYER_NAME = "VK_LAYER_KHRONOS_validation";
-static const char* const APP_TITLE_A =     "Vulkan Memory Allocator Sample 3.2.0";
-static const wchar_t* const APP_TITLE_W = L"Vulkan Memory Allocator Sample 3.2.0";
+static const char* const APP_TITLE_A =     "Vulkan Memory Allocator Sample 3.2.1";
+static const wchar_t* const APP_TITLE_W = L"Vulkan Memory Allocator Sample 3.2.1";
 
 static const bool VSYNC = true;
 static const uint32_t COMMAND_BUFFER_COUNT = 2;