diff --git a/CHANGELOG.md b/CHANGELOG.md
index ad0543dd7..54c5b8108 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,16 @@
 **Please note that Webpacker 3.1.0 and 3.1.1 have some serious bugs so please consider using either 3.0.2 or 3.2.0**
 
+## [4.0.0-pre.1] - 2018-04-2
+
+Pre-release to try out webpack 4.0 support
+
+## Added
+  - Webpack 4.0 support [#1376](https://github.com/rails/webpacker/pull/1316)
+
+## Fixed
+  - Remove compilation digest file if webpack command fails[#1398](https://github.com/rails/webpacker/issues/1398)
+
+
 ## [3.4.1] - 2018-03-24
 
 ## Fixed
diff --git a/Gemfile.lock b/Gemfile.lock
index 24d033be1..45cc9295a 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,7 +1,7 @@
 PATH
   remote: .
   specs:
-    webpacker (3.4.1)
+    webpacker (4.0.0.pre.pre.1)
       activesupport (>= 4.2)
       rack-proxy (>= 0.6.1)
       railties (>= 4.2)
diff --git a/lib/webpacker/version.rb b/lib/webpacker/version.rb
index 2fcc82cb2..c23068a03 100644
--- a/lib/webpacker/version.rb
+++ b/lib/webpacker/version.rb
@@ -1,4 +1,4 @@
 module Webpacker
   # Change the version in package.json too, please!
-  VERSION = "3.4.1".freeze
+  VERSION = "4.0.0-pre.1".freeze
 end
diff --git a/package.json b/package.json
index ff47a5157..9957cdb07 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@rails/webpacker",
-  "version": "3.4.1",
+  "version": "4.0.0-pre.1",
   "description": "Use webpack to manage app-like JavaScript modules in Rails",
   "main": "package/index.js",
   "files": [