diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2239e4357..8b0fec9fa 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,25 @@
 ## Next release
 
+## 0.42.0 / 2020-09-09
+
+The Prometheus Operator now lives in its own indepent GitHub organization.  
+We have also added a governance (#3398).
+
+* [FEATURE] Move API types out into their own module (#3395)
+* [FEATURE] Create a monitoring mixin for prometheus-operator (#3333)
+* [ENHANCEMENT] Remove multilistwatcher and denylistfilter (#3440)
+* [ENHANCEMENT] Instrument client-go requests (#3465)
+* [ENHANCEMENT] pkg/prometheus: skip invalid service monitors (#3445)
+* [ENHANCEMENT] pkg/alertmanager: Use lower value for --cluster.reconnect-timeout (#3436)
+* [ENHANCEMENT] pkg/alertmanager: cleanup resources via OwnerReferences (#3423)
+* [ENHANCEMENT] Add prometheus_operator_reconcile_operations_total metric (#3415)
+* [ENHANCEMENT] pkg/operator/image.go: Adjust image path building (#3392)
+* [ENHANCEMENT] Specify timeouts per Alertmanager target when sending alerts. (#3385)
+* [ENHANCEMENT] Push container images to Quay into coreos and prometheus-operator orgs (#3390)
+* [ENHANCEMENT] Run single replica Alertmanager in HA cluster mode (#3382)
+* [BUGFIX] Fix validation logic for SecretOrConfigMap (#3413)
+* [BUGFIX] Don't overwrite __param_target (#3377)
+
 ## 0.41.1 / 2020-08-12
 
 * [BUGFIX] Fix image url logic (#3402)
diff --git a/Documentation/rbac.md b/Documentation/rbac.md
index 4e890ed5c..f3624265a 100644
--- a/Documentation/rbac.md
+++ b/Documentation/rbac.md
@@ -21,7 +21,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
 rules:
 - apiGroups:
@@ -154,7 +154,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 ```
@@ -171,7 +171,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
 roleRef:
   apiGroup: rbac.authorization.k8s.io
diff --git a/VERSION b/VERSION
index 9ed317fb4..787ffc30a 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.41.1
+0.42.0
diff --git a/bundle.yaml b/bundle.yaml
index 5f59918ef..aa1c3f78e 100644
--- a/bundle.yaml
+++ b/bundle.yaml
@@ -16866,7 +16866,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
 roleRef:
   apiGroup: rbac.authorization.k8s.io
@@ -16883,7 +16883,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
 rules:
 - apiGroups:
@@ -16954,7 +16954,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 spec:
@@ -16968,15 +16968,15 @@ spec:
       labels:
         app.kubernetes.io/component: controller
         app.kubernetes.io/name: prometheus-operator
-        app.kubernetes.io/version: v0.41.1
+        app.kubernetes.io/version: v0.42.0
     spec:
       containers:
       - args:
         - --kubelet-service=kube-system/kubelet
         - --logtostderr=true
         - --config-reloader-image=jimmidyson/configmap-reload:v0.4.0
-        - --prometheus-config-reloader=quay.io/prometheus-operator/prometheus-config-reloader:v0.41.1
-        image: quay.io/prometheus-operator/prometheus-operator:v0.41.1
+        - --prometheus-config-reloader=quay.io/prometheus-operator/prometheus-config-reloader:v0.42.0
+        image: quay.io/prometheus-operator/prometheus-operator:v0.42.0
         name: prometheus-operator
         ports:
         - containerPort: 8080
@@ -17003,7 +17003,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 ---
@@ -17013,7 +17013,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 spec:
diff --git a/example/non-rbac/prometheus-operator.yaml b/example/non-rbac/prometheus-operator.yaml
index 62d3f3752..3db0c93e5 100644
--- a/example/non-rbac/prometheus-operator.yaml
+++ b/example/non-rbac/prometheus-operator.yaml
@@ -4,7 +4,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 spec:
@@ -18,15 +18,15 @@ spec:
       labels:
         app.kubernetes.io/component: controller
         app.kubernetes.io/name: prometheus-operator
-        app.kubernetes.io/version: v0.41.1
+        app.kubernetes.io/version: v0.42.0
     spec:
       containers:
       - args:
         - --kubelet-service=kube-system/kubelet
         - --logtostderr=true
         - --config-reloader-image=jimmidyson/configmap-reload:v0.4.0
-        - --prometheus-config-reloader=quay.io/prometheus-operator/prometheus-config-reloader:v0.41.1
-        image: quay.io/prometheus-operator/prometheus-operator:v0.41.1
+        - --prometheus-config-reloader=quay.io/prometheus-operator/prometheus-config-reloader:v0.42.0
+        image: quay.io/prometheus-operator/prometheus-operator:v0.42.0
         name: prometheus-operator
         ports:
         - containerPort: 8080
diff --git a/example/rbac/prometheus-operator/prometheus-operator-cluster-role-binding.yaml b/example/rbac/prometheus-operator/prometheus-operator-cluster-role-binding.yaml
index 5a780185b..ce5d0c296 100644
--- a/example/rbac/prometheus-operator/prometheus-operator-cluster-role-binding.yaml
+++ b/example/rbac/prometheus-operator/prometheus-operator-cluster-role-binding.yaml
@@ -4,7 +4,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
 roleRef:
   apiGroup: rbac.authorization.k8s.io
diff --git a/example/rbac/prometheus-operator/prometheus-operator-cluster-role.yaml b/example/rbac/prometheus-operator/prometheus-operator-cluster-role.yaml
index ea62db3eb..20e388b2d 100644
--- a/example/rbac/prometheus-operator/prometheus-operator-cluster-role.yaml
+++ b/example/rbac/prometheus-operator/prometheus-operator-cluster-role.yaml
@@ -4,7 +4,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
 rules:
 - apiGroups:
diff --git a/example/rbac/prometheus-operator/prometheus-operator-deployment.yaml b/example/rbac/prometheus-operator/prometheus-operator-deployment.yaml
index 013cdc428..a3e701c0b 100644
--- a/example/rbac/prometheus-operator/prometheus-operator-deployment.yaml
+++ b/example/rbac/prometheus-operator/prometheus-operator-deployment.yaml
@@ -4,7 +4,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 spec:
@@ -18,15 +18,15 @@ spec:
       labels:
         app.kubernetes.io/component: controller
         app.kubernetes.io/name: prometheus-operator
-        app.kubernetes.io/version: v0.41.1
+        app.kubernetes.io/version: v0.42.0
     spec:
       containers:
       - args:
         - --kubelet-service=kube-system/kubelet
         - --logtostderr=true
         - --config-reloader-image=jimmidyson/configmap-reload:v0.4.0
-        - --prometheus-config-reloader=quay.io/prometheus-operator/prometheus-config-reloader:v0.41.1
-        image: quay.io/prometheus-operator/prometheus-operator:v0.41.1
+        - --prometheus-config-reloader=quay.io/prometheus-operator/prometheus-config-reloader:v0.42.0
+        image: quay.io/prometheus-operator/prometheus-operator:v0.42.0
         name: prometheus-operator
         ports:
         - containerPort: 8080
diff --git a/example/rbac/prometheus-operator/prometheus-operator-service-account.yaml b/example/rbac/prometheus-operator/prometheus-operator-service-account.yaml
index c47cd4298..a17ddaa3e 100644
--- a/example/rbac/prometheus-operator/prometheus-operator-service-account.yaml
+++ b/example/rbac/prometheus-operator/prometheus-operator-service-account.yaml
@@ -4,6 +4,6 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
diff --git a/example/rbac/prometheus-operator/prometheus-operator-service-monitor.yaml b/example/rbac/prometheus-operator/prometheus-operator-service-monitor.yaml
index 45216666e..aed831bbb 100644
--- a/example/rbac/prometheus-operator/prometheus-operator-service-monitor.yaml
+++ b/example/rbac/prometheus-operator/prometheus-operator-service-monitor.yaml
@@ -4,7 +4,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 spec:
@@ -15,4 +15,4 @@ spec:
     matchLabels:
       app.kubernetes.io/component: controller
       app.kubernetes.io/name: prometheus-operator
-      app.kubernetes.io/version: v0.41.1
+      app.kubernetes.io/version: v0.42.0
diff --git a/example/rbac/prometheus-operator/prometheus-operator-service.yaml b/example/rbac/prometheus-operator/prometheus-operator-service.yaml
index c13846b0d..5f828afcd 100644
--- a/example/rbac/prometheus-operator/prometheus-operator-service.yaml
+++ b/example/rbac/prometheus-operator/prometheus-operator-service.yaml
@@ -4,7 +4,7 @@ metadata:
   labels:
     app.kubernetes.io/component: controller
     app.kubernetes.io/name: prometheus-operator
-    app.kubernetes.io/version: v0.41.1
+    app.kubernetes.io/version: v0.42.0
   name: prometheus-operator
   namespace: default
 spec:
diff --git a/jsonnet/prometheus-operator/prometheus-operator.libsonnet b/jsonnet/prometheus-operator/prometheus-operator.libsonnet
index cbe50b501..f035c0262 100644
--- a/jsonnet/prometheus-operator/prometheus-operator.libsonnet
+++ b/jsonnet/prometheus-operator/prometheus-operator.libsonnet
@@ -15,7 +15,7 @@ local k = import 'ksonnet/ksonnet.beta.4/k.libsonnet';
     },
 
     versions+:: {
-      prometheusOperator: 'v0.41.1',
+      prometheusOperator: 'v0.42.0',
       prometheusConfigReloader: self.prometheusOperator,
       configmapReloader: 'v0.4.0',
     },