diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index e1675dabc8cb..f036de271daa 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -993,7 +993,7 @@
   "google-shopping-merchant-issue_resolution-v1beta+FILLER": "0.0.0",
   "google-shopping-merchant-lfp": "0.3.2",
   "google-shopping-merchant-lfp+FILLER": "0.0.0",
-  "google-shopping-merchant-lfp-v1": "0.2.1",
+  "google-shopping-merchant-lfp-v1": "0.3.0",
   "google-shopping-merchant-lfp-v1+FILLER": "0.0.0",
   "google-shopping-merchant-lfp-v1beta": "0.7.0",
   "google-shopping-merchant-lfp-v1beta+FILLER": "0.0.0",
diff --git a/google-shopping-merchant-lfp-v1/CHANGELOG.md b/google-shopping-merchant-lfp-v1/CHANGELOG.md
index 0cb7ff90f2f8..228c9ac89941 100644
--- a/google-shopping-merchant-lfp-v1/CHANGELOG.md
+++ b/google-shopping-merchant-lfp-v1/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+### 0.3.0 (2026-03-31)
+
+#### Features
+
+* Upgrade dependencies for Ruby v4.0 and drop Ruby v3.1 support
+
 ### 0.2.1 (2025-10-27)
 
 #### Documentation
diff --git a/google-shopping-merchant-lfp-v1/lib/google/shopping/merchant/lfp/v1/version.rb b/google-shopping-merchant-lfp-v1/lib/google/shopping/merchant/lfp/v1/version.rb
index 7557faafb297..8f7e470ce22b 100644
--- a/google-shopping-merchant-lfp-v1/lib/google/shopping/merchant/lfp/v1/version.rb
+++ b/google-shopping-merchant-lfp-v1/lib/google/shopping/merchant/lfp/v1/version.rb
@@ -22,7 +22,7 @@ module Shopping
     module Merchant
       module Lfp
         module V1
-          VERSION = "0.2.1"
+          VERSION = "0.3.0"
         end
       end
     end
diff --git a/google-shopping-merchant-lfp-v1/snippets/snippet_metadata_google.shopping.merchant.lfp.v1.json b/google-shopping-merchant-lfp-v1/snippets/snippet_metadata_google.shopping.merchant.lfp.v1.json
index c207dcc749fe..02056ddf7f00 100644
--- a/google-shopping-merchant-lfp-v1/snippets/snippet_metadata_google.shopping.merchant.lfp.v1.json
+++ b/google-shopping-merchant-lfp-v1/snippets/snippet_metadata_google.shopping.merchant.lfp.v1.json
@@ -1,7 +1,7 @@
 {
   "client_library": {
     "name": "google-shopping-merchant-lfp-v1",
-    "version": "0.2.1",
+    "version": "0.3.0",
     "language": "RUBY",
     "apis": [
       {