diff --git a/CHANGELOG.md b/CHANGELOG.md
index c2dc8d961..5867ad094 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,74 @@
 # Changelog
 
+## 1.4.0
+
+**Release date:** 2025-09-25
+
+This minor release comes with various bug fixes and improvements.
+
+⚠️ The `v2beta1` APIs were removed. Before upgrading the CRDs, Flux users
+must run [`flux migrate`](https://github.com/fluxcd/flux2/pull/5473) to
+migrate the cluster storage off `v2beta1`.
+
+The controller now supports ExternalArtifact Helm chart sources
+under the feature gate `ExternalArtifact`.
+
+A new `RetryOnFailure` strategy has been added for automatic
+retries on Helm release failures.
+
+Dependencies can now be evaluated using CEL expressions via the new
+`readyExpr` field, providing more flexible and powerful dependency
+readiness checks.
+
+Support for workload identity authentication has been added for remote clusters.
+This is supported both at the controller and object levels. For object-level,
+enable the feature gate `ObjectLevelWorkloadIdentity`.
+
+In addition, the Kubernetes dependencies have been updated to v1.34, Helm has
+been updated to v3.19 and various other controller dependencies have been
+updated to their latest version. The controller is now built with Go 1.25.
+
+Fixes:
+- Fix continuous drift due to unstable hashing of values
+  [#1267](https://github.com/fluxcd/helm-controller/pull/1267)
+- Fix watch index conflict between HelmChart and OCIRepository kinds
+  [#1266](https://github.com/fluxcd/helm-controller/pull/1266)
+- Fix requeue interval for SourceNotReady
+  [#1276](https://github.com/fluxcd/helm-controller/pull/1276)
+
+Improvements:
+- [RFC-0010] Add workload identity auth for remote clusters
+  [#1249](https://github.com/fluxcd/helm-controller/pull/1249)
+- [RFC-0010] Support all Azure clouds for remote clusters
+  [#1262](https://github.com/fluxcd/helm-controller/pull/1262)
+- [RFC-0010] Add multi-tenancy lockdown for kubeconfig
+  [#1284](https://github.com/fluxcd/helm-controller/pull/1284)
+- [RFC-0010] Add object-level configuration validation
+  [#1286](https://github.com/fluxcd/helm-controller/pull/1286)
+- [RFC-0012] Add ExternalArtifact feature gate and reconciliation support
+  [#1293](https://github.com/fluxcd/helm-controller/pull/1293)
+- [RFC-0012] Add support for ExternalArtifact revision with digest
+  [#1296](https://github.com/fluxcd/helm-controller/pull/1296)
+- Remove deprecated `helm.toolkit.fluxcd.io/v2beta1` API group
+  [#1280](https://github.com/fluxcd/helm-controller/pull/1280) 
+- Add RetryOnFailure lifecycle management strategy
+  [#1281](https://github.com/fluxcd/helm-controller/pull/1281)
+- Add CEL expressions for dependency readiness checks with `readyExpr` field
+  [#1271](https://github.com/fluxcd/helm-controller/pull/1271)
+- Add label selector for watching ConfigMaps and Secrets
+  [#1258](https://github.com/fluxcd/helm-controller/pull/1258)
+- Add common labels and annotations support with Kustomize post-renderer
+  [#1223](https://github.com/fluxcd/helm-controller/pull/1223)
+- Record last Helm release action duration in status
+  [#1282](https://github.com/fluxcd/helm-controller/pull/1282)
+- CI improvements with fluxcd/gha-workflows
+  [#1305](https://github.com/fluxcd/helm-controller/pull/1305)
+  [#1307](https://github.com/fluxcd/helm-controller/pull/1307)
+- Various dependency updates
+  [#1304](https://github.com/fluxcd/helm-controller/pull/1304)
+  [#1247](https://github.com/fluxcd/helm-controller/pull/1247)
+  [#1297](https://github.com/fluxcd/helm-controller/pull/1297)
+
 ## 1.3.0
 
 **Release date:** 2025-05-28
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index 1b7461d82..ffe2e5978 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/helm-controller
     newName: fluxcd/helm-controller
-    newTag: v1.3.0
+    newTag: v1.4.0
diff --git a/go.mod b/go.mod
index 874e2f2b5..c187c2764 100644
--- a/go.mod
+++ b/go.mod
@@ -17,7 +17,7 @@ replace (
 require (
 	github.com/Masterminds/semver/v3 v3.4.0
 	github.com/fluxcd/cli-utils v0.36.0-flux.15
-	github.com/fluxcd/helm-controller/api v1.3.0
+	github.com/fluxcd/helm-controller/api v1.4.0
 	github.com/fluxcd/pkg/apis/acl v0.9.0
 	github.com/fluxcd/pkg/apis/event v0.19.0
 	github.com/fluxcd/pkg/apis/kustomize v1.12.0