diff --git a/README.md b/README.md
index 81286564cb..218e351da1 100644
--- a/README.md
+++ b/README.md
@@ -25,7 +25,7 @@ The tool manages automated machine learning (AutoML) experiments, **dispatches a
 
 ## **What's NEW!** &nbsp;<a href="#nni-released-reminder"><img width="48" src="docs/img/release_icon.png"></a>
 
-* **New release**: [v2.4 is available](https://github.com/microsoft/nni/releases) - _released on June-15-2021_
+* **New release**: [v2.5 is available](https://github.com/microsoft/nni/releases) - _released on June-15-2021_
 * **New demo available**: [Youtube entry](https://www.youtube.com/channel/UCKcafm6861B2mnYhPbZHavw) | [Bilibili 入口](https://space.bilibili.com/1649051673) - _last updated on May-26-2021_
 * **New webinar**: [Introducing Retiarii: A deep learning exploratory-training framework on NNI](https://note.microsoft.com/MSR-Webinar-Retiarii-Registration-Live.html) - _scheduled on June-24-2021_
 * **New community channel**: [Discussions](https://github.com/microsoft/nni/discussions)
@@ -253,7 +253,7 @@ Note:
 * Download the examples via clone the source code.
 
   ```bash
-  git clone -b v2.4 https://github.com/Microsoft/nni.git
+  git clone -b v2.5 https://github.com/Microsoft/nni.git
   ```
 
 * Run the MNIST example.
diff --git a/docs/en_US/Release.rst b/docs/en_US/Release.rst
index 126d5cd3dd..44e692efb2 100644
--- a/docs/en_US/Release.rst
+++ b/docs/en_US/Release.rst
@@ -5,6 +5,71 @@
 Change Log
 ==========
 
+Release 2.5 - 11/2/2021
+-----------------------
+
+Model Compression
+^^^^^^^^^^^^^^^^^
+
+* New major version of pruning framework `(doc) <https://nni.readthedocs.io/en/v2.5/Compression/v2_pruning.html>`__
+
+  * Iterative pruning is more automated, users can use less code to implement iterative pruning.
+  * Support exporting intermediate models in the iterative pruning process.
+  * The implementation of the pruning algorithm is closer to the paper.
+  * Users can easily customize their own iterative pruning by using ``PruningScheduler``.
+  * Optimize the basic pruners underlying generate mask logic, easier to extend new functions.
+  * Optimized the memory usage of the pruners.
+
+* MobileNetV2 end-to-end example `(notebook) <https://github.com/microsoft/nni/blob/v2.5/examples/model_compress/pruning/mobilenetv2_end2end/Compressing%20MobileNetV2%20with%20NNI%20Pruners.ipynb>`__
+* Improved QAT quantizer `(doc) <https://nni.readthedocs.io/en/v2.5/Compression/Quantizer.html#qat-quantizer>`__
+
+  * support dtype and scheme customization
+  * support dp multi-gpu training
+  * support load_calibration_config
+
+* Model speed-up now supports directly loading the mask `(doc) <https://nni.readthedocs.io/en/v2.5/Compression/ModelSpeedup.html#nni.compression.pytorch.ModelSpeedup>`__
+* Support speed-up depth-wise convolution
+* Support bn-folding for LSQ quantizer
+* Support QAT and LSQ resume from PTQ
+* Added doc for observer quantizer `(doc) <https://nni.readthedocs.io/en/v2.5/Compression/Quantizer.html#observer-quantizer>`__
+
+Neural Architecture Search
+^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+* NAS benchmark `(doc) <https://nni.readthedocs.io/en/v2.5/NAS/Benchmarks.html>`__
+
+  * Support benchmark table lookup in experiments
+  * New data preparation approach
+
+* Improved `quick start doc <https://nni.readthedocs.io/en/v2.5/NAS/QuickStart.html>`__
+* Experimental CGO execution engine `(doc) <https://nni.readthedocs.io/en/v2.5/NAS/ExecutionEngines.html#cgo-execution-engine-experimental>`__
+
+Hyper-Parameter Optimization
+^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+* New training platform: Alibaba DSW+DLC `(doc) <https://nni.readthedocs.io/en/v2.5/TrainingService/DLCMode.html>`__
+* Support passing ConfigSpace definition directly to BOHB `(doc) <https://nni.readthedocs.io/en/v2.5/Tuner/BohbAdvisor.html#usage>`__ (thanks to khituras)
+* Reformatted `experiment config doc <https://nni.readthedocs.io/en/v2.5/reference/experiment_config.html>`__
+* Added example config files for Windows (thanks to @politecat314)
+* FrameworkController now supports reuse mode
+
+Fixed Bugs
+^^^^^^^^^^
+
+* Experiment cannot start due to platform timestamp format (issue #4077 #4083)
+* Cannot use ``1e-5`` in search space (issue #4080)
+* Dependency version conflict caused by ConfigSpace (issue #3909) (thanks to @jexxers)
+* Hardware-aware SPOS example does not work (issue #4198)
+* Web UI show wrong remaining time when duration exceeds limit (issue #4015)
+* cudnn.deterministic is always set in AMC pruner (#4117) thanks to @mstczuo
+
+And...
+^^^^^^
+
+* New `emoticons <https://github.com/microsoft/nni/blob/v2.5/docs/en_US/Tutorial/NNSpider.md>`__!
+
+.. image:: https://raw.githubusercontent.com/microsoft/nni/v2.5/docs/img/emoicons/Holiday.png
+
 Release 2.4 - 8/11/2021
 -----------------------
 
diff --git a/docs/en_US/Tutorial/InstallationLinux.rst b/docs/en_US/Tutorial/InstallationLinux.rst
index 16da29d27e..251c44dfdf 100644
--- a/docs/en_US/Tutorial/InstallationLinux.rst
+++ b/docs/en_US/Tutorial/InstallationLinux.rst
@@ -24,7 +24,7 @@ Install NNI through source code
 
 .. code-block:: bash
 
-     git clone -b v2.4 https://github.com/Microsoft/nni.git
+     git clone -b v2.5 https://github.com/Microsoft/nni.git
      cd nni
      python3 -m pip install -U -r dependencies/setup.txt
      python3 -m pip install -r dependencies/develop.txt
@@ -38,7 +38,7 @@ If you want to perform a persist install instead, we recommend to build your own
 
 .. code-block:: bash
 
-    git clone -b v2.4 https://github.com/Microsoft/nni.git
+    git clone -b v2.5 https://github.com/Microsoft/nni.git
     cd nni
     export NNI_RELEASE=2.0
     python3 -m pip install -U -r dependencies/setup.txt
@@ -61,7 +61,7 @@ Verify installation
 
   .. code-block:: bash
 
-     git clone -b v2.4 https://github.com/Microsoft/nni.git
+     git clone -b v2.5 https://github.com/Microsoft/nni.git
 
 * 
   Run the MNIST example.
diff --git a/docs/en_US/Tutorial/InstallationWin.rst b/docs/en_US/Tutorial/InstallationWin.rst
index 6936a151ee..1935bcd213 100644
--- a/docs/en_US/Tutorial/InstallationWin.rst
+++ b/docs/en_US/Tutorial/InstallationWin.rst
@@ -40,7 +40,7 @@ If you want to contribute to NNI, refer to `setup development environment <Setup
 
   .. code-block:: bat
 
-       git clone -b v2.4 https://github.com/Microsoft/nni.git
+       git clone -b v2.5 https://github.com/Microsoft/nni.git
        cd nni
        python -m pip install -U -r dependencies/setup.txt
        python -m pip install -r dependencies/develop.txt
@@ -54,7 +54,7 @@ Verify installation
 
   .. code-block:: bat
 
-       git clone -b v2.4 https://github.com/Microsoft/nni.git
+       git clone -b v2.5 https://github.com/Microsoft/nni.git
 
 * 
   Run the MNIST example.
diff --git a/docs/en_US/conf.py b/docs/en_US/conf.py
index 70c81b1f6e..95af3f689e 100644
--- a/docs/en_US/conf.py
+++ b/docs/en_US/conf.py
@@ -27,7 +27,7 @@
 # The short X.Y version
 version = ''
 # The full version, including alpha/beta/rc tags
-release = 'v2.4'
+release = 'v2.5'
 
 # -- General configuration ---------------------------------------------------