diff --git a/CHANGELOG.md b/CHANGELOG.md
index 340117baa..19a0e3924 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,18 @@
 # Changelog
 
+## 0.37.2
+
+This prerelease fixes a bug that resulted in the controller not being able to
+properly watch HelmRelease resources with specific labels.
+
+Fixes:
+- Properly configure namespace selector
+  [#858](https://github.com/fluxcd/helm-controller/pull/858)
+
+Improvements:
+- build(deps): bump golang.org/x/crypto from 0.16.0 to 0.17.0
+  [#856](https://github.com/fluxcd/helm-controller/pull/856)
+
 ## 0.37.1
 
 This prerelease fixes a backwards compatibility issue that could occur when
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index 70fcac93a..052e47388 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: v0.37.1
+    newTag: v0.37.2
diff --git a/go.mod b/go.mod
index 66de6aff2..baf23814f 100644
--- a/go.mod
+++ b/go.mod
@@ -16,7 +16,7 @@ replace (
 
 require (
 	github.com/fluxcd/cli-utils v0.36.0-flux.2
-	github.com/fluxcd/helm-controller/api v0.37.1
+	github.com/fluxcd/helm-controller/api v0.37.2
 	github.com/fluxcd/pkg/apis/acl v0.1.0
 	github.com/fluxcd/pkg/apis/event v0.6.0
 	github.com/fluxcd/pkg/apis/kustomize v1.2.0