diff --git a/CHANGELOG.md b/CHANGELOG.md
index 45ccc5f2..ba3a63ca 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,11 @@ This document outlines major changes between releases.
 
 ## [Unreleased]
 
+## [0.32.12] - 2025-03-06
+
+### Fixed
+- Reduced number of dial calls to available unhealthy tree services (#654)
+
 ## [0.32.11] - 2025-02-28
 
 ### Fixed
@@ -464,4 +469,5 @@ To see CHANGELOG for older versions, refer to https://github.com/nspcc-dev/neofs
 [0.32.9]: https://git.frostfs.info/TrueCloudLab/frostfs-s3-gw/compare/v0.32.8...v0.32.9
 [0.32.10]: https://git.frostfs.info/TrueCloudLab/frostfs-s3-gw/compare/v0.32.9...v0.32.10
 [0.32.11]: https://git.frostfs.info/TrueCloudLab/frostfs-s3-gw/compare/v0.32.10...v0.32.11
-[Unreleased]: https://git.frostfs.info/TrueCloudLab/frostfs-s3-gw/compare/v0.32.11...master
\ No newline at end of file
+[0.32.11]: https://git.frostfs.info/TrueCloudLab/frostfs-s3-gw/compare/v0.32.11...v0.32.12
+[Unreleased]: https://git.frostfs.info/TrueCloudLab/frostfs-s3-gw/compare/v0.32.12...master
\ No newline at end of file
diff --git a/VERSION b/VERSION
index a897d288..90488f7d 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v0.32.11
+v0.32.12