diff --git a/CHANGELOG.md b/CHANGELOG.md
index dd79e7de..4a91c60b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,34 +1,11 @@
 # NVIDIA Container Toolkit Changelog
 
-## v1.17.4
-- Disable mounting of compat libs from container by default
-- Add allow-cuda-compat-libs-from-container feature flag
-- Skip graphics modifier in CSV mode
-- Properly pass configSearchPaths to a Driver constructor
-- Add support for containerd version 3 config
-- Add string TOML source
-
-### Changes in libnvidia-container
-- Add no-cntlibs CLI option to nvidia-container-cli
+## v1.18.0-rc.1
 
 ### Changes in the Toolkit Container
-- Bump CUDA base image version to 12.6.3
-
-## v1.17.3
-- Only allow host-relative LDConfig paths by default.
-### Changes in libnvidia-container
-- Create virtual copy of host ldconfig binary before calling fexecve()
 
-## v1.17.2
-- Fixed a bug where legacy images would set imex channels as `all`.
 
-## v1.17.1
-- Fixed a bug where specific symlinks existing in a container image could cause a container to fail to start.
-- Fixed a bug on Tegra-based systems where a container would fail to start.
-- Fixed a bug where the default container runtime config path was not properly set.
-
-### Changes in the Toolkit Container
-- Fallback to using a config file if the current runtime config can not be determined from the command line.
+### Changes in libnvidia-container
 
 ## v1.17.0
 - Promote v1.17.0-rc.2 to v1.17.0
diff --git a/versions.mk b/versions.mk
index facc30f3..a535af45 100644
--- a/versions.mk
+++ b/versions.mk
@@ -13,8 +13,8 @@
 # limitations under the License.
 
 LIB_NAME := nvidia-container-toolkit
-LIB_VERSION := 1.17.4
-LIB_TAG :=
+LIB_VERSION := 1.18.0
+LIB_TAG := rc.1
 
 # The package version is the combination of the library version and tag.
 # If the tag is specified the two components are joined with a tilde (~).