diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index fc5553b079..945fbaf296 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "0.24.0"
+  ".": "0.25.0"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index df0ef95215..32f5de0e90 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,27 @@
 # Changelog
 
+## [0.25.0](https://github.com/openai/openai-agents-python/compare/v0.24.0...v0.25.0) (2026-10-22)
+
+
+### Features
+
+* **sandbox:** remove Runloop provider ([#5369](https://github.com/openai/openai-agents-python/issues/5369)) ([12ce34d](https://github.com/openai/openai-agents-python/commit/12ce34d8438d6f1f7c964a261b89e069e8a0b3d3))
+
+
+### Bug Fixes
+
+* **deps-dev:** bump aiohttp from 3.14.3 to 3.14.5 ([#5403](https://github.com/openai/openai-agents-python/issues/5403)) ([442d0ea](https://github.com/openai/openai-agents-python/commit/442d0ea112e62e3423d3e93478532424f71b3f8a))
+* **deps-dev:** bump playwright from 1.50.0 to 1.63.0 ([#5402](https://github.com/openai/openai-agents-python/issues/5402)) ([0dc4cf1](https://github.com/openai/openai-agents-python/commit/0dc4cf152bff1f50bdc0e41f28808563406545b2))
+* **deps:** bump mcp from 2.0.0 to 2.2.0 ([#5393](https://github.com/openai/openai-agents-python/issues/5393)) ([97c8288](https://github.com/openai/openai-agents-python/commit/97c8288bc6e97d69f45fc3732f1cf236b321d125))
+* **deps:** bump mcp from 2.0.0 to 2.3.0 ([#5404](https://github.com/openai/openai-agents-python/issues/5404)) ([e2de6a8](https://github.com/openai/openai-agents-python/commit/e2de6a8f2c61ea3818f582fc74c8f8a8da9830b2))
+* **deps:** update fastapi requirement from >=0.142.2 to >=0.143.0 in /examples/realtime/twilio_sip ([#5399](https://github.com/openai/openai-agents-python/issues/5399)) ([6bfa5ff](https://github.com/openai/openai-agents-python/commit/6bfa5ff5be83d80bb3de4be4a61bd589289c99f2))
+* **deps:** update fastapi requirement in /examples/realtime/twilio_sip ([6bfa5ff](https://github.com/openai/openai-agents-python/commit/6bfa5ff5be83d80bb3de4be4a61bd589289c99f2))
+* **deps:** update openai requirement from <4,>=3.26.0 to >=3.29.0,<4 in /examples/realtime/twilio_sip ([#5398](https://github.com/openai/openai-agents-python/issues/5398)) ([0e54e4b](https://github.com/openai/openai-agents-python/commit/0e54e4b6ce2aaa96ff917a978ec8774eb7ab85f1))
+* **deps:** update openai requirement in /examples/realtime/twilio_sip ([0e54e4b](https://github.com/openai/openai-agents-python/commit/0e54e4b6ce2aaa96ff917a978ec8774eb7ab85f1))
+* **deps:** update twilio requirement from <10,>=9.11.2 to >=9.12.0,<10 in /examples/realtime/twilio ([#5397](https://github.com/openai/openai-agents-python/issues/5397)) ([452c5bd](https://github.com/openai/openai-agents-python/commit/452c5bda2e481fe21120ec69232e87c83a7d66f5))
+* **deps:** update twilio requirement in /examples/realtime/twilio ([452c5bd](https://github.com/openai/openai-agents-python/commit/452c5bda2e481fe21120ec69232e87c83a7d66f5))
+* raise MCP minimum to 1.21.2 for Pydantic and OAuth compatibility ([#5384](https://github.com/openai/openai-agents-python/issues/5384)) ([970db99](https://github.com/openai/openai-agents-python/commit/970db99b1f97594b30496b9b75031f0c7f4f36ba))
+
 ## [0.24.0](https://github.com/openai/openai-agents-python/compare/v0.23.1...v0.24.0) (2026-10-15)
 
 
diff --git a/pyproject.toml b/pyproject.toml
index 5596912c09..214eb14d4c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "openai-agents"
-version = "0.24.0"
+version = "0.25.0"
 description = "OpenAI Agents SDK"
 readme = "README.md"
 requires-python = ">=3.10"
diff --git a/src/agents/version.py b/src/agents/version.py
index 39dead730b..5d21960c13 100644
--- a/src/agents/version.py
+++ b/src/agents/version.py
@@ -4,4 +4,4 @@
     __version__ = importlib.metadata.version("openai-agents")
 except importlib.metadata.PackageNotFoundError:
     # Fallback if running from source without being installed
-    __version__ = "0.24.0"
+    __version__ = "0.25.0"
diff --git a/tests/fixtures/released_api_contract.json b/tests/fixtures/released_api_contract.json
index 4403182ac9..6d6210c41a 100644
--- a/tests/fixtures/released_api_contract.json
+++ b/tests/fixtures/released_api_contract.json
@@ -1,6 +1,6 @@
 {
-  "baseline": "v0.24.0",
-  "baseline_commit": "7d7f70391ce12ac86d39deaff5d5d25b9e9c24c1",
+  "baseline": "v0.25.0",
+  "baseline_commit": "d4cf7af409e7816e447e97ed624f337b09c1926b",
   "callables": {
     "Agent": {
       "dataclass_fields": [
diff --git a/uv.lock b/uv.lock
index 95363f08a0..43f686de98 100644
--- a/uv.lock
+++ b/uv.lock
@@ -2763,7 +2763,7 @@ wheels = [
 
 [[package]]
 name = "openai-agents"
-version = "0.24.0"
+version = "0.25.0"
 source = { editable = "." }
 dependencies = [
     { name = "griffelib" },