diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 9a28a56978f4..cb9a80c69f11 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -39,7 +39,7 @@
   "google-cloud-advisory_notifications-v1+FILLER": "0.0.0",
   "google-cloud-ai_platform": "1.5.0",
   "google-cloud-ai_platform+FILLER": "0.0.0",
-  "google-cloud-ai_platform-v1": "0.61.0",
+  "google-cloud-ai_platform-v1": "0.62.0",
   "google-cloud-ai_platform-v1+FILLER": "0.0.0",
   "google-cloud-alloy_db": "1.2.1",
   "google-cloud-alloy_db+FILLER": "0.0.0",
diff --git a/google-cloud-ai_platform-v1/CHANGELOG.md b/google-cloud-ai_platform-v1/CHANGELOG.md
index b013e395e9e3..338e827e21ff 100644
--- a/google-cloud-ai_platform-v1/CHANGELOG.md
+++ b/google-cloud-ai_platform-v1/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+### 0.62.0 (2025-01-19)
+
+#### Features
+
+* Add Context Cache to v1 
+* Add retrieval_config to ToolConfig v1 ([#28233](https://github.com/googleapis/google-cloud-ruby/issues/28233)) 
+
 ### 0.61.0 (2024-12-10)
 
 #### Features
diff --git a/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb b/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb
index bc4219454569..f1ad675eb78a 100644
--- a/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb
+++ b/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb
@@ -21,7 +21,7 @@ module Google
   module Cloud
     module AIPlatform
       module V1
-        VERSION = "0.61.0"
+        VERSION = "0.62.0"
       end
     end
   end