diff --git a/GITALY_SERVER_VERSION b/GITALY_SERVER_VERSION
index 0a3db35b241..21998d3c2d9 100644
--- a/GITALY_SERVER_VERSION
+++ b/GITALY_SERVER_VERSION
@@ -1 +1 @@
-1.46.0
+1.47.0
diff --git a/changelogs/unreleased/gitaly-version-v1.47.0.yml b/changelogs/unreleased/gitaly-version-v1.47.0.yml
new file mode 100644
index 00000000000..b369506b336
--- /dev/null
+++ b/changelogs/unreleased/gitaly-version-v1.47.0.yml
@@ -0,0 +1,5 @@
+---
+title: Upgrade to Gitaly v1.47.0
+merge_request: 29789
+author:
+type: changed