diff --git a/dev/release/README.md b/dev/release/README.md
index 1ba44fb50..e85b288f4 100644
--- a/dev/release/README.md
+++ b/dev/release/README.md
@@ -56,28 +56,37 @@ Before creating a new release:
 - a PR should be created and merged to update the major version number of the project
 - A new release branch should be created, such as `branch-0.8`
 
-### Update CHANGELOG.md
+### Change Log
 
-Define release branch (e.g. `branch-0.8`), base version tag (e.g. `0.7.0`) and future version tag (e.g. `0.9.0`). Commits
-between the base version tag and the release branch will be used to populate the changelog content.
+We maintain a `CHANGELOG.md` so our users know what has been changed between releases.
+
+The changelog is generated using a Python script:
 
 ```bash
-# create the changelog
-CHANGELOG_GITHUB_TOKEN=<TOKEN> ./dev/release/update_change_log-datafusion-python.sh main 0.8.0 0.7.0
-# review change log / edit issues and labels if needed, rerun until you are happy with the result
-git commit -a -m 'Create changelog for release'
+$ GITHUB_TOKEN=<TOKEN> ./dev/release/generate-changelog.py apache/arrow-datafusion-python 24.0.0 HEAD > dev/changelog/25.0.0.md
+```
+
+This script creates a changelog from GitHub PRs based on the labels associated with them as well as looking for
+titles starting with `feat:`, `fix:`, or `docs:` . The script will produce output similar to:
+
 ```
+Fetching list of commits between 24.0.0 and HEAD
+Fetching pull requests
+Categorizing pull requests
+Generating changelog content
+```
+
+This process is not fully automated, so there are some additional manual steps:
 
-_If you see the error `"You have exceeded a secondary rate limit"` when running this script, try reducing the CPU
-allocation to slow the process down and throttle the number of GitHub requests made per minute, by modifying the
-value of the `--cpus` argument in the `update_change_log.sh` script._
+- Add the ASF header to the generated file
+- Add a link to this changelog from the top-level `/datafusion/CHANGELOG.md`
+- Add the following content (copy from the previous version's changelog and update as appropriate:
 
-You can add `invalid` or `development-process` label to exclude items from
-release notes.
+```
+## [24.0.0](https://github.com/apache/arrow-datafusion-python/tree/24.0.0) (2023-05-06)
 
-Send a PR to get these changes merged into the release branch (e.g. `branch-0.8`). If new commits that could change the
-change log content landed in the release branch before you could merge the PR, you need to rerun the changelog update
-script to regenerate the changelog and update the PR accordingly.
+[Full Changelog](https://github.com/apache/arrow-datafusion-python/compare/23.0.0...24.0.0)
+```
 
 ### Preparing a Release Candidate
 
diff --git a/dev/release/generate-changelog.md b/dev/release/generate-changelog.md
new file mode 100644
index 000000000..caa6ae647
--- /dev/null
+++ b/dev/release/generate-changelog.md
@@ -0,0 +1,114 @@
+#!/usr/bin/env python
+
+# Licensed to the Apache Software Foundation (ASF) under one or more
+# contributor license agreements.  See the NOTICE file distributed with
+# this work for additional information regarding copyright ownership.
+# The ASF licenses this file to You under the Apache License, Version 2.0
+# (the "License"); you may not use this file except in compliance with
+# the License.  You may obtain a copy of the License at
+#
+#    http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing, software
+# distributed under the License is distributed on an "AS IS" BASIS,
+# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+# See the License for the specific language governing permissions and
+# limitations under the License.
+
+import argparse
+import sys
+from github import Github
+import os
+import re
+
+
+def print_pulls(repo_name, title, pulls):
+if len(pulls)  > 0:
+print("**{}:**".format(title))
+print()
+for (pull, commit) in pulls:
+url = "https://github.com/{}/pull/{}".format(repo_name, pull.number)
+print("- {} [#{}]({}) ({})".format(pull.title, pull.number, url, commit.author.login))
+print()
+
+
+def generate_changelog(repo, repo_name, tag1, tag2):
+
+    # get a list of commits between two tags
+    print(f"Fetching list of commits between {tag1} and {tag2}", file=sys.stderr)
+    comparison = repo.compare(tag1, tag2)
+
+    # get the pull requests for these commits
+    print("Fetching pull requests", file=sys.stderr)
+    unique_pulls = []
+    all_pulls = []
+    for commit in comparison.commits:
+        pulls = commit.get_pulls()
+        for pull in pulls:
+            # there can be multiple commits per PR if squash merge is not being used and
+            # in this case we should get all the author names, but for now just pick one
+            if pull.number not in unique_pulls:
+                unique_pulls.append(pull.number)
+                all_pulls.append((pull, commit))
+
+    # we split the pulls into categories
+    #TODO: make categories configurable
+    breaking = []
+    bugs = []
+    docs = []
+    enhancements = []
+
+    # categorize the pull requests based on GitHub labels
+    print("Categorizing pull requests", file=sys.stderr)
+    for (pull, commit) in all_pulls:
+
+        # see if PR title uses Conventional Commits
+        cc_type = ''
+        cc_scope = ''
+        cc_breaking = ''
+        parts = re.findall(r'^([a-z]+)(\([a-z]+\))?(!)?:', pull.title)
+        if len(parts) == 1:
+            parts_tuple = parts[0]
+            cc_type = parts_tuple[0] # fix, feat, docs, chore
+            cc_scope = parts_tuple[1] # component within project
+            cc_breaking = parts_tuple[2] == '!'
+
+        labels = [label.name for label in pull.labels]
+        #print(pull.number, labels, parts, file=sys.stderr)
+        if 'api change' in labels or cc_breaking:
+            breaking.append((pull, commit))
+        elif 'bug' in labels or cc_type == 'fix':
+            bugs.append((pull, commit))
+        elif 'enhancement' in labels or cc_type == 'feat':
+            enhancements.append((pull, commit))
+        elif 'documentation' in labels or cc_type == 'docs':
+            docs.append((pull, commit))
+
+    # produce the changelog content
+    print("Generating changelog content", file=sys.stderr)
+    print_pulls(repo_name, "Breaking changes", breaking)
+    print_pulls(repo_name, "Implemented enhancements", enhancements)
+    print_pulls(repo_name, "Fixed bugs", bugs)
+    print_pulls(repo_name, "Documentation updates", docs)
+    print_pulls(repo_name, "Merged pull requests", all_pulls)
+
+
+def cli(args=None):
+"""Process command line arguments."""
+if not args:
+args = sys.argv[1:]
+
+    parser = argparse.ArgumentParser()
+    parser.add_argument("project", help="The project name e.g. apache/arrow-datafusion-python")
+    parser.add_argument("tag1", help="The previous release tag")
+    parser.add_argument("tag2", help="The current release tag")
+    args = parser.parse_args()
+
+    token = os.getenv("GITHUB_TOKEN")
+
+    g = Github(token)
+    repo = g.get_repo(args.project)
+    generate_changelog(repo, args.project, args.tag1, args.tag2)
+
+if __name__ == "__main__":
+cli()
\ No newline at end of file