diff --git a/.github/workflows/main.yml b/.github/workflows/main.yml
index e12ad385..4e6f9d22 100644
--- a/.github/workflows/main.yml
+++ b/.github/workflows/main.yml
@@ -126,19 +126,51 @@ jobs:
         fail_ci_if_error: true
         token: ${{ secrets.CODECOV_TOKEN }}
 
+  prepare-release-notes:
+    name: Prepare Release Notes
+    needs: [lint]
+    runs-on: ubuntu-latest
+    steps:
+    - name: Checkout
+      uses: actions/checkout@v4
+      with:
+        fetch-depth: 0
+    - name: Install Python
+      uses: actions/setup-python@v5
+    - name: Install towncrier
+      run: pip install towncrier==24.8.0
+    - name: Install pandoc
+      run: |
+        sudo apt-get install -y pandoc
+    - name: Install pytest-asyncio
+      run: pip install .
+    - name: Compile Release Notes Draft
+      if: ${{ !contains(github.ref, 'refs/tags/') }}
+      run: towncrier build --draft --version "${{ needs.lint.outputs.version }}" > release-notes.rst
+    - name: Extract release notes from Git tag
+      if: github.event_name == 'push' && contains(github.ref, 'refs/tags/')
+      run: |
+        set -e
+        git for-each-ref github.ref --format='%(contents)' > release-notes.rst
+        # Strip PGP signature from signed tags
+        sed -i "/-----BEGIN PGP SIGNATURE-----/,/-----END PGP SIGNATURE-----\n/d" release-notes.rst
+    - name: Convert Release Notes to Markdown
+      run: |
+        pandoc -s -o release-notes.md release-notes.rst
+    - name: Upload artifacts
+      uses: actions/upload-artifact@v4
+      with:
+        name: release-notes.md
+        path: release-notes.md
+
   deploy:
     name: Deploy
     environment: release
         # Run only on pushing a tag
     if: github.event_name == 'push' && contains(github.ref, 'refs/tags/')
-    needs: [lint, check]
+    needs: [lint, check, prepare-release-notes]
     runs-on: ubuntu-latest
     steps:
-    - name: Install pandoc
-      run: |
-        sudo apt-get install -y pandoc
-    - name: Checkout
-      uses: actions/checkout@v4
     - name: Download distributions
       uses: actions/download-artifact@v4
       with:
@@ -147,20 +179,22 @@ jobs:
     - name: Collected dists
       run: |
         tree dist
-    - name: Convert README.rst to Markdown
-      run: |
-        pandoc -s -o README.md README.rst
     - name: PyPI upload
       uses: pypa/gh-action-pypi-publish@v1.12.4
       with:
         attestations: true
         packages-dir: dist
         password: ${{ secrets.PYPI_API_TOKEN }}
+    - name: Download Release Notes
+      uses: actions/download-artifact@v4
+      with:
+        name: release-notes.md
+        path: release-notes.md
     - name: GitHub Release
       uses: ncipollo/release-action@v1
       with:
         name: pytest-asyncio ${{ needs.lint.outputs.version }}
         artifacts: dist/*
-        bodyFile: README.md
+        bodyFile: release-notes.md
         prerelease: ${{ needs.lint.outputs.prerelease }}
         token: ${{ secrets.GITHUB_TOKEN }}
diff --git a/changelog.d/.gitkeep b/changelog.d/.gitkeep
new file mode 100644
index 00000000..e69de29b
diff --git a/docs/reference/changelog.rst b/docs/reference/changelog.rst
index 11c35a1b..e64a8ad4 100644
--- a/docs/reference/changelog.rst
+++ b/docs/reference/changelog.rst
@@ -2,6 +2,14 @@
 Changelog
 =========
 
+All notable changes to this project will be documented in this file.
+
+The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.1.0/), and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
+
+This project uses [*towncrier*](https://towncrier.readthedocs.io/) for changlog management and the changes for the upcoming release can be found in <https://github.com/pytest-dev/pytest-asyncio/tree/main/changelog.d/>.
+
+.. towncrier release notes start
+
 0.26.0 (2025-03-25)
 ===================
 - Adds configuration option that sets default event loop scope for all tests `#793 <https://github.com/pytest-dev/pytest-asyncio/issues/793>`_
diff --git a/pyproject.toml b/pyproject.toml
index b368b481..9cdd7b3c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -137,3 +137,44 @@ parallel = true
 
 [tool.coverage.report]
 show_missing = true
+
+[tool.towncrier]
+directory = "changelog.d"
+filename = "docs/reference/changelog.rst"
+title_format = "`{version} <https://github.com/pytest-dev/pytest-asyncio/tree/{version}>`_ - {project_date}"
+issue_format = "`#{issue} <https://github.com/pytest-dev/pytest-asyncio/issues/{issue}>`_"
+
+[[tool.towncrier.type]]
+directory = "security"
+name = "Security"
+showcontent = true
+
+[[tool.towncrier.type]]
+directory = "removed"
+name = "Removed"
+showcontent = true
+
+[[tool.towncrier.type]]
+directory = "deprecated"
+name = "Deprecated"
+showcontent = true
+
+[[tool.towncrier.type]]
+directory = "added"
+name = "Added"
+showcontent = true
+
+[[tool.towncrier.type]]
+directory = "changed"
+name = "Changed"
+showcontent = true
+
+[[tool.towncrier.type]]
+directory = "fixed"
+name = "Fixed"
+showcontent = true
+
+[[tool.towncrier.type]]
+directory = "downstream"
+name = "Notes for Downstream Packagers"
+showcontent = true