diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2c386cd8..45bac2f3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,48 @@
 
 All notable changes to this project are documented in this file.
 
+## 1.2.0
+
+**Release date:** 2023-12-11
+
+This minor release comes with performance improvements, bug fixes and several new features.
+
+The controller has been updated from Kustomize v5.0 to **v5.3**, please the see
+`kubernetes-sigs/kustomize` [changelog](https://github.com/kubernetes-sigs/kustomize/releases)
+for a more details.
+
+Starting with this version, the controller will automatically perform a cleanup of
+the Pods belonging to stale Kubernetes Jobs after a force apply.
+
+A new controller flag `--override-manager` has been added to extend the Field Managers disallow list.
+Using this flag, cluster administrators can configure the controller to undo changes
+made with Lens and other UI tools that directly modify Kubernetes objects on clusters.
+
+In addition, the controller dependencies have been updated, including an update to Kubernetes v1.28.
+The container base image has been updated to Alpine 3.19.
+
+Improvements:
+- Update source-controller to v1.2.2
+  [#1024](https://github.com/fluxcd/kustomize-controller/pull/1024)
+- build: update Alpine to 3.19
+  [#1023](https://github.com/fluxcd/kustomize-controller/pull/1023)
+- Update Kustomize to v5.3.0
+  [#1021](https://github.com/fluxcd/kustomize-controller/pull/1021)
+- Support additional Field Managers in the disallow list
+  [#1017](https://github.com/fluxcd/kustomize-controller/pull/1017)
+- Add test for Namespace custom resource
+  [#1016](https://github.com/fluxcd/kustomize-controller/pull/1016)
+- Update controller to Kubernetes v1.28.4
+  [#1014](https://github.com/fluxcd/kustomize-controller/pull/1014)
+- Disable status poller cache by default
+  [#1012](https://github.com/fluxcd/kustomize-controller/pull/1012)
+- Tweak permissions on various created files
+  [#1005](https://github.com/fluxcd/kustomize-controller/pull/1005)
+- Cleanup pods when recreating Kubernetes Jobs
+  [#997](https://github.com/fluxcd/kustomize-controller/pull/997)
+- Update SOPS to v3.8.1
+  [#995](https://github.com/fluxcd/kustomize-controller/pull/995)
+
 ## 1.1.1
 
 **Release date:** 2023-10-11
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index d774b8fc..c58a532e 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/kustomize-controller
     newName: fluxcd/kustomize-controller
-    newTag: v1.1.0
+    newTag: v1.2.0
diff --git a/go.mod b/go.mod
index b13d383d..f49d341b 100644
--- a/go.mod
+++ b/go.mod
@@ -17,7 +17,7 @@ require (
 	github.com/cyphar/filepath-securejoin v0.2.4
 	github.com/dimchansky/utfbom v1.1.1
 	github.com/fluxcd/cli-utils v0.36.0-flux.2
-	github.com/fluxcd/kustomize-controller/api v1.1.1
+	github.com/fluxcd/kustomize-controller/api v1.2.0
 	github.com/fluxcd/pkg/apis/acl v0.1.0
 	github.com/fluxcd/pkg/apis/event v0.6.0
 	github.com/fluxcd/pkg/apis/kustomize v1.2.0