diff --git a/docs/source/release-notes/3.4.1.rst b/docs/source/release-notes/3.4.1.rst
new file mode 100644
index 0000000..81d0eef
--- /dev/null
+++ b/docs/source/release-notes/3.4.1.rst
@@ -0,0 +1,17 @@
+3.4.1 -- 2017-07-28
+-------------------
+
+You can view the `3.4.1 milestone`_ on GitLab for more details.
+
+- Fix minor regression when users specify only a ``--select`` list with items
+  in the enabled/extended select list.  (See also `GitLab#354`_)
+
+.. all links
+.. _3.4.1 milestone:
+    https://gitlab.com/pycqa/flake8/milestones/19
+
+.. issue links
+.. _GitLab#354:
+    https://gitlab.com/pycqa/flake8/issues/354
+
+.. merge request links
diff --git a/docs/source/release-notes/index.rst b/docs/source/release-notes/index.rst
index 3b145f0..b15d937 100644
--- a/docs/source/release-notes/index.rst
+++ b/docs/source/release-notes/index.rst
@@ -9,6 +9,7 @@ with the newest releases first.
 ==================
 
 .. toctree::
+    3.4.1
     3.4.0
     3.3.0
     3.2.1
diff --git a/src/flake8/__init__.py b/src/flake8/__init__.py
index 0ee1d99..80fe44e 100644
--- a/src/flake8/__init__.py
+++ b/src/flake8/__init__.py
@@ -27,7 +27,7 @@ LOG.addHandler(NullHandler())
 # Clean up after LOG config
 del NullHandler
 
-__version__ = '3.4.0'
+__version__ = '3.4.1'
 __version_info__ = tuple(int(i) for i in __version__.split('.') if i.isdigit())