diff --git a/sdk/eventgrid/azure-eventgrid/CHANGELOG.md b/sdk/eventgrid/azure-eventgrid/CHANGELOG.md
index 6f71310deefd..137ce18b7d4e 100644
--- a/sdk/eventgrid/azure-eventgrid/CHANGELOG.md
+++ b/sdk/eventgrid/azure-eventgrid/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 4.7.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 4.7.0 (2021-11-09)
 
 ### Features Added
diff --git a/sdk/eventgrid/azure-eventgrid/azure/eventgrid/_version.py b/sdk/eventgrid/azure-eventgrid/azure/eventgrid/_version.py
index c9179def3a58..7fee23b86c27 100644
--- a/sdk/eventgrid/azure-eventgrid/azure/eventgrid/_version.py
+++ b/sdk/eventgrid/azure-eventgrid/azure/eventgrid/_version.py
@@ -9,4 +9,4 @@
 # regenerated.
 # --------------------------------------------------------------------------
 
-VERSION = "4.7.0"
+VERSION = "4.7.1"