diff --git a/charts/external-dns/CHANGELOG.md b/charts/external-dns/CHANGELOG.md
index 807e84458..6b2401c2f 100644
--- a/charts/external-dns/CHANGELOG.md
+++ b/charts/external-dns/CHANGELOG.md
@@ -18,6 +18,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [UNRELEASED]
 
+## [v1.20.0]
+
 ### Added
 
 - Add option to set `annotationPrefix` ([#5889](https://github.com/kubernetes-sigs/external-dns/pull/5889)) _@lexfrei_
@@ -25,6 +27,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 ### Changed
 
 - Grant `networking.k8s.io/ingresses` and `gateway.solo.io/gateways` permissions when using `gloo-proxy` source. ([#5909](https://github.com/kubernetes-sigs/external-dns/pull/5909)) _@cucxabong_
+- Update _ExternalDNS_ OCI image version to [v0.20.0](https://github.com/kubernetes-sigs/external-dns/releases/tag/v0.20.0). ([#6005](https://github.com/kubernetes-sigs/external-dns/pull/6005)) _@vflaux_
 
 ### Fixed
 
@@ -303,6 +306,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 RELEASE LINKS
 -->
 [UNRELEASED]: https://github.com/kubernetes-sigs/external-dns/tree/master/charts/external-dns
+[v1.20.0]: https://github.com/kubernetes-sigs/external-dns/releases/tag/external-dns-helm-chart-1.20.0
 [v1.19.0]: https://github.com/kubernetes-sigs/external-dns/releases/tag/external-dns-helm-chart-1.19.0
 [v1.18.0]: https://github.com/kubernetes-sigs/external-dns/releases/tag/external-dns-helm-chart-1.18.0
 [v1.17.0]: https://github.com/kubernetes-sigs/external-dns/releases/tag/external-dns-helm-chart-1.17.0
diff --git a/charts/external-dns/Chart.yaml b/charts/external-dns/Chart.yaml
index 2950a9d54..330863e64 100644
--- a/charts/external-dns/Chart.yaml
+++ b/charts/external-dns/Chart.yaml
@@ -2,8 +2,8 @@ apiVersion: v2
 name: external-dns
 description: ExternalDNS synchronizes exposed Kubernetes Services and Ingresses with DNS providers.
 type: application
-version: 1.19.0
-appVersion: 0.19.0
+version: 1.20.0
+appVersion: 0.20.0
 keywords:
   - kubernetes
   - k8s
diff --git a/charts/external-dns/README.md b/charts/external-dns/README.md
index 5afc26cb4..0bbae9259 100644
--- a/charts/external-dns/README.md
+++ b/charts/external-dns/README.md
@@ -1,6 +1,6 @@
 # external-dns
 
-![Version: 1.19.0](https://img.shields.io/badge/Version-1.19.0-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 0.19.0](https://img.shields.io/badge/AppVersion-0.19.0-informational?style=flat-square)
+![Version: 1.20.0](https://img.shields.io/badge/Version-1.20.0-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 0.20.0](https://img.shields.io/badge/AppVersion-0.20.0-informational?style=flat-square)
 
 ExternalDNS synchronizes exposed Kubernetes Services and Ingresses with DNS providers.
 
@@ -27,7 +27,7 @@ helm repo add external-dns https://kubernetes-sigs.github.io/external-dns/
 After you've installed the repo you can install the chart.
 
 ```shell
-helm upgrade --install external-dns external-dns/external-dns --version 1.19.0
+helm upgrade --install external-dns external-dns/external-dns --version 1.20.0
 ```
 
 ## Providers