diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6c3f5d9b7e6..7d096186922 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,7 +1,14 @@
 Ansible Changes By Release
 ==========================
 
-## 1.8 "You Really Got Me" - Active Development
+## 1.8.1 "You Really Got Me" - Nov 26, 2014
+
+* Various bug fixes in postgresql and mysql modules.
+* Fixed a bug related to lookup plugins used within roles not finding files based on the relative paths to the roles files/ directory.
+* Fixed a bug related to vars specified in plays being templated too early, resulting in incorrect variable interpolation.
+* Fixed a bug related to git submodules in bare repos.
+
+## 1.8 "You Really Got Me" - Nov 25, 2014
 
 Major changes:
 
diff --git a/RELEASES.txt b/RELEASES.txt
index fe64ddcf068..0dcf706d7a4 100644
--- a/RELEASES.txt
+++ b/RELEASES.txt
@@ -9,6 +9,7 @@ Active Development
 Released
 ++++++++
 
+1.8.1  "You Really Got Me" ---- 11-26-2014
 1.8    "You Really Got Me" ---- 11-25-2014
 1.7.2  "Summer Nights" -------- 09-24-2014
 1.7.1  "Summer Nights" -------- 08-14-2014
diff --git a/VERSION b/VERSION
index 6259340971b..a8fdfda1c78 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.8
+1.8.1
diff --git a/lib/ansible/__init__.py b/lib/ansible/__init__.py
index 2585fdc30f3..c9c5f4cfb05 100644
--- a/lib/ansible/__init__.py
+++ b/lib/ansible/__init__.py
@@ -14,5 +14,5 @@
 #
 # You should have received a copy of the GNU General Public License
 # along with Ansible.  If not, see <http://www.gnu.org/licenses/>.
-__version__ = '1.8'
+__version__ = '1.8.1'
 __author__ = 'Michael DeHaan'
diff --git a/lib/ansible/modules/core b/lib/ansible/modules/core
index 922a2ebb7a9..dd4095137a0 160000
--- a/lib/ansible/modules/core
+++ b/lib/ansible/modules/core
@@ -1 +1 @@
-Subproject commit 922a2ebb7a965679a540b1a3e5f0f5254efd52e7
+Subproject commit dd4095137a00b1ddec1de5fe21495a28be0b9f03
diff --git a/lib/ansible/modules/extras b/lib/ansible/modules/extras
index ca94781d5c2..cf54dc46b49 160000
--- a/lib/ansible/modules/extras
+++ b/lib/ansible/modules/extras
@@ -1 +1 @@
-Subproject commit ca94781d5c29f78f6a380a024821ba8360b67b78
+Subproject commit cf54dc46b49adfccf377d646727d922cf7c7d659
diff --git a/packaging/debian/changelog b/packaging/debian/changelog
index 29d6e64c07c..35736287979 100644
--- a/packaging/debian/changelog
+++ b/packaging/debian/changelog
@@ -1,3 +1,9 @@
+ansible (1.8.1) unstable; urgency=low
+
+  * 1.8.1
+
+ -- Michael DeHaan <michael@ansible.com>  Wed, 26 Nov 2014 23:00:00 -0500
+
 ansible (1.8.0) unstable; urgency=low
 
   * 1.8.0
diff --git a/packaging/rpm/ansible.spec b/packaging/rpm/ansible.spec
index 71061b601b8..1eb8f1d2249 100644
--- a/packaging/rpm/ansible.spec
+++ b/packaging/rpm/ansible.spec
@@ -110,6 +110,9 @@ rm -rf %{buildroot}
 
 %changelog
 
+* Wed Nov 26 2014 Michael DeHaan <michael@ansible.com> - 1.8.1
+- Release 1.8.1
+
 * Tue Nov 25 2014 Michael DeHaan <michael@ansible.com> - 1.8.0
 - Release 1.8.0