diff --git a/.github/workflows/release.yml b/.github/workflows/release.yml
new file mode 100644
index 0000000..0a6ba4e
--- /dev/null
+++ b/.github/workflows/release.yml
@@ -0,0 +1,57 @@
+name: Release
+
+on:
+  workflow_dispatch:
+    inputs:
+      action:
+        description: "Release action to perform"
+        required: true
+        type: choice
+        options:
+          - major
+          - minor
+          - patch
+          - set-version
+      version:
+        description: "Version to set (required only for set-version)"
+        required: false
+
+jobs:
+  release:
+    runs-on: ubuntu-latest
+
+    steps:
+      - name: Checkout repository
+        uses: actions/checkout@v5
+        with:
+          fetch-depth: 0
+
+      - name: Set up Python
+        uses: actions/setup-python@v5
+        with:
+          python-version: "3.11"
+
+      - name: Install dependencies
+        run: pip install semver
+
+      - name: Run release script
+        run: |
+          if [ "${{ inputs.action }}" = "set-version" ]; then
+            if [ -z "${{ inputs.version }}" ]; then
+              echo "Version is required for set-version"
+              exit 1
+            fi
+            python tools/spec_release.py set=${{ inputs.version }}
+          else
+            python tools/spec_release.py ${{ inputs.action }}
+          fi
+
+      - name: Commit version updates
+        run: |
+          git config user.name "github-actions"
+          git config user.email "github-actions@github.com"
+          git add .
+          git commit -m "chore(release): bump version (${{ inputs.action }})" || echo "No changes to commit"
+
+      - name: Push changes
+        run: git push
diff --git a/.github/workflows/release_tests.yml b/.github/workflows/release_tests.yml
new file mode 100644
index 0000000..1526f50
--- /dev/null
+++ b/.github/workflows/release_tests.yml
@@ -0,0 +1,28 @@
+name: Test Python Release 
+
+on:
+  workflow_dispatch:       
+
+jobs:
+  test:
+    runs-on: ubuntu-latest
+
+    steps:
+      - name: Checkout repository
+        uses: actions/checkout@v5
+        with:
+          fetch-depth: 0
+
+      - name: Set up Python
+        uses: actions/setup-python@v5
+        with:
+          python-version: "3.11"
+
+      - name: Install dependencies
+        run: |
+          python -m pip install --upgrade pip
+          pip install pytest semver
+
+      - name: Run tests
+        run: |
+          PYTHONPATH=$PYTHONPATH:. pytest -v tests/
diff --git a/tests/test_release.py b/tests/test_release.py
new file mode 100644
index 0000000..7b062ed
--- /dev/null
+++ b/tests/test_release.py
@@ -0,0 +1,41 @@
+import pytest
+from semver import VersionInfo
+from tools.spec_release import compute_next_version
+
+# start release
+
+def test_start_minor_release_from_stable():
+    v = VersionInfo.parse("1.2.3")
+    new = compute_next_version(v, "minor")
+    assert new.major == 1
+    assert new.minor == 3  # bump minor
+    assert new.patch == 0
+
+def test_start_major_release_from_stable():
+    v = VersionInfo.parse("1.2.3")
+    new = compute_next_version(v, "major")
+    assert new.major == 2  # bump major
+    assert new.minor == 0
+    assert new.patch == 0
+
+def test_start_release_invalid_action():
+    v = VersionInfo.parse("1.2.3")
+    with pytest.raises(SystemExit):
+        compute_next_version(v, "invalid-action")
+
+# patch release
+
+def test_patch_release_from_stable():
+    v = VersionInfo.parse("1.2.3")
+    new = compute_next_version(v, "patch")
+    assert str(new) == "1.2.4"
+
+# set version
+
+def test_set_version_valid():
+    v = compute_next_version(VersionInfo.parse("0.0.0"), "set", "2.0.1")
+    assert str(v) == "2.0.1"
+
+def test_set_version_invalid():
+    with pytest.raises(SystemExit):
+        compute_next_version(VersionInfo.parse("0.0.0"), "set", "not-a-version")
diff --git a/tools/__init__.py b/tools/__init__.py
new file mode 100644
index 0000000..e69de29
diff --git a/tools/spec_release.py b/tools/spec_release.py
new file mode 100644
index 0000000..df68ec7
--- /dev/null
+++ b/tools/spec_release.py
@@ -0,0 +1,128 @@
+#!/usr/bin/env python3
+
+import sys
+from pathlib import Path
+from semver import VersionInfo
+
+VERSION_FILE = Path("version.txt")
+
+SCHEMA_DIRS = ["schemas", "custom"]
+CONFORMANCE_DIRS = ["conformance", "custom"]
+DOC_FILES = ["cloudevents-binding.md", "spec.md", "links.md"]
+README_FILE = "README.md"
+
+# Utilities
+
+def read_version() -> VersionInfo:
+    if not VERSION_FILE.exists():
+        sys.exit(f"{VERSION_FILE} not found")
+    try:
+        return VersionInfo.parse(VERSION_FILE.read_text().strip())
+    except ValueError as e:
+        sys.exit(f"Invalid version: {e}")
+
+def write_version(version: VersionInfo):
+    VERSION_FILE.write_text(f"{version}\n")
+
+def replace_all(files, old: str, new: str):
+    for f in files:
+        p = Path(f)
+        if p.exists():
+            p.write_text(p.read_text().replace(old, new))
+
+def find_files(dirs, suffix=".json"):
+    return [
+        f for d in dirs if Path(d).exists()
+        for f in Path(d).rglob(f"*{suffix}")
+    ]
+
+# Version transitions
+
+def compute_next_version(old: VersionInfo, action: str, value=None) -> VersionInfo:
+    """
+    Compute next version based on the action:
+    - major: bump major, reset minor & patch
+    - minor: bump minor, reset patch
+    - patch: bump patch
+    - set: set to exact version
+    """
+    if action == "set":
+        try:
+            return VersionInfo.parse(value)
+        except ValueError as e:
+            sys.exit(f"Invalid version: {e}")
+
+    if action == "major":
+        return old.bump_major()
+    if action == "minor":
+        return old.bump_minor()
+    if action == "patch":
+        return old.bump_patch()
+
+    sys.exit(f"Unknown action: {action}")
+
+# Repository updates
+
+def update_repository(old: VersionInfo, new: VersionInfo):
+    old_v, new_v = str(old), str(new)
+
+    # Update schema references
+    replace_all(
+        find_files(SCHEMA_DIRS),
+        f"https://cdevents.dev/{old_v}/schema/",
+        f"https://cdevents.dev/{new_v}/schema/",
+    )
+
+    # Update conformance files
+    replace_all(
+        find_files(CONFORMANCE_DIRS),
+        f'"version": "{old_v}"',
+        f'"version": "{new_v}"',
+    )
+
+    # Update documentation files
+    replace_all(
+        DOC_FILES,
+        f'"version": "{old_v}"',
+        f'"version": "{new_v}"',
+    )
+
+    # Update README
+    replace_all([README_FILE], f"v{old_v}", f"v{new_v}")
+
+# CLI
+
+def parse_action():
+    """
+    Get release action from command-line arguments.
+    Usage:
+        python release.py major
+        python release.py minor
+        python release.py patch
+        python release.py set=X.Y.Z
+    """
+    if len(sys.argv) < 2:
+        sys.exit("Usage: release.py <major|minor|patch|set=X.Y.Z>")
+
+    arg = sys.argv[1].lower()
+
+    if arg in ("major", "minor", "patch"):
+        return arg, None
+
+    if arg.startswith("set="):
+        return "set", arg.split("=", 1)[1]
+
+    sys.exit(f"Unknown action: {arg}")
+
+# Main
+
+def main():
+    action, value = parse_action()
+    old = read_version()
+    new = compute_next_version(old, action, value)
+    update_repository(old, new)
+    write_version(new)
+    print(f"Version updated: {old} -> {new}")
+
+if __name__ == "__main__":
+    main()