diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1abc3b005..069247b57 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,15 @@
+# v1.34.0
+### Notable Changes
+* Consider accelerators when calculating node attachment limit ([#2115](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2115), [@ElijahQuinones](https://github.com/ElijahQuinones))
+* Consider GPUs when calculating node attachment limit ([#2108](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2108), [@ElijahQuinones](https://github.com/ElijahQuinones))
+
+### Bug Fixes
+* Ensure ModifyVolume returns InvalidArgument error code if VAC contains invalid parameter ([#2103](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2103), [@mdzraf](https://github.com/mdzraf))
+
+### Improvements
+* Document metadata requirement and available sources ([#2117](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2117), [@ConnorJC3](https://github.com/ConnorJC3))
+* Upgrade dependencies ([#2123](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2123), [@AndrewSirenko](https://github.com/AndrewSirenko))
+
 # v1.33.0
 ### Urgent Upgrade Notes
 *(No, really, you MUST read this before you upgrade)*
diff --git a/Makefile b/Makefile
index 2ab939b0b..6be5dc3a3 100644
--- a/Makefile
+++ b/Makefile
@@ -18,7 +18,7 @@
 
 ## Variables/Functions
 
-VERSION?=v1.33.0
+VERSION?=v1.34.0
 
 PKG=github.com/kubernetes-sigs/aws-ebs-csi-driver
 GIT_COMMIT?=$(shell git rev-parse HEAD)
diff --git a/README.md b/README.md
index 7b1e6aa77..30d96e8e2 100644
--- a/README.md
+++ b/README.md
@@ -20,8 +20,8 @@ The [Amazon Elastic Block Store](https://aws.amazon.com/ebs/) Container Storage
 
 | Driver Version | [registry.k8s.io](https://kubernetes.io/blog/2022/11/28/registry-k8s-io-faster-cheaper-ga/) Image | [ECR Public](https://gallery.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver) Image |
 |----------------|---------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|
+| v1.34.0        | registry.k8s.io/provider-aws/aws-ebs-csi-driver:v1.34.0                                           | public.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver:v1.34.0                      |
 | v1.33.0        | registry.k8s.io/provider-aws/aws-ebs-csi-driver:v1.33.0                                           | public.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver:v1.33.0                      |
-| v1.32.0        | registry.k8s.io/provider-aws/aws-ebs-csi-driver:v1.32.0                                           | public.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver:v1.32.0                      |
 
 ## Releases
 
diff --git a/charts/aws-ebs-csi-driver/CHANGELOG.md b/charts/aws-ebs-csi-driver/CHANGELOG.md
index e4816d6d6..3305f8ea3 100644
--- a/charts/aws-ebs-csi-driver/CHANGELOG.md
+++ b/charts/aws-ebs-csi-driver/CHANGELOG.md
@@ -1,4 +1,10 @@
 # Helm chart
+## v2.34.0
+* Bump driver version to `v1.34.0`
+* Add toggle for PodDisruptionBudget in chart ([#2109](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2109), [@AndrewSirenko](https://github.com/AndrewSirenko))
+* Add nodeComponentOnly parameter to helm chart ([#2106](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2106), [@AndrewSirenko](https://github.com/AndrewSirenko))
+* fix: sidecars.snapshotter.logLevel not being respect ([#2102](https://github.com/kubernetes-sigs/aws-ebs-csi-driver/pull/2102), [@zyue110026](https://github.com/zyue110026))
+
 ## v2.33.0
 * Bump driver version to `v1.33.0`
 * Bump CSI sidecar container versions
diff --git a/charts/aws-ebs-csi-driver/Chart.yaml b/charts/aws-ebs-csi-driver/Chart.yaml
index 9deceac14..e5eed9b9a 100644
--- a/charts/aws-ebs-csi-driver/Chart.yaml
+++ b/charts/aws-ebs-csi-driver/Chart.yaml
@@ -1,8 +1,8 @@
 apiVersion: v2
-appVersion: 1.33.0
+appVersion: 1.34.0
 name: aws-ebs-csi-driver
 description: A Helm chart for AWS EBS CSI Driver
-version: 2.33.0
+version: 2.34.0
 kubeVersion: ">=1.17.0-0"
 home: https://github.com/kubernetes-sigs/aws-ebs-csi-driver
 sources:
diff --git a/deploy/kubernetes/base/controller.yaml b/deploy/kubernetes/base/controller.yaml
index 8a741d718..964b2a4e0 100644
--- a/deploy/kubernetes/base/controller.yaml
+++ b/deploy/kubernetes/base/controller.yaml
@@ -62,7 +62,7 @@ spec:
         runAsUser: 1000
       containers:
         - name: ebs-plugin
-          image: public.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver:v1.33.0
+          image: public.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver:v1.34.0
           imagePullPolicy: IfNotPresent
           args:
             # - {all,controller,node} # specify the driver mode
diff --git a/deploy/kubernetes/base/node.yaml b/deploy/kubernetes/base/node.yaml
index 77f5a766b..7e43eab6c 100644
--- a/deploy/kubernetes/base/node.yaml
+++ b/deploy/kubernetes/base/node.yaml
@@ -54,7 +54,7 @@ spec:
         runAsUser: 0
       containers:
         - name: ebs-plugin
-          image: public.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver:v1.33.0
+          image: public.ecr.aws/ebs-csi-driver/aws-ebs-csi-driver:v1.34.0
           imagePullPolicy: IfNotPresent
           args:
             - node
diff --git a/docs/install.md b/docs/install.md
index ec4502864..2b5f42c9c 100644
--- a/docs/install.md
+++ b/docs/install.md
@@ -77,7 +77,7 @@ You may deploy the EBS CSI driver via Kustomize, Helm, or as an [Amazon EKS mana
 
 #### Kustomize
 ```sh
-kubectl apply -k "github.com/kubernetes-sigs/aws-ebs-csi-driver/deploy/kubernetes/overlays/stable/?ref=release-1.33"
+kubectl apply -k "github.com/kubernetes-sigs/aws-ebs-csi-driver/deploy/kubernetes/overlays/stable/?ref=release-1.34"
 ```
 
 *Note: Using the master branch to deploy the driver is not supported as the master branch may contain upcoming features incompatible with the currently released stable version of the driver.*