diff --git a/CHANGELOG.md b/CHANGELOG.md
index f5bbe4f24b61cc19f785d6c81603aa292643fded..30f6e692e483212e3bf52921c2426608794f4433 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,9 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Changed
+- Reverted the disabled overflow checks in the `cargo contract new` template - [#376](https://github.com/paritytech/cargo-contract/pull/376)
+
 ## [0.16.0] - 2021-11-25
 
 ### Changed
diff --git a/templates/new/_Cargo.toml b/templates/new/_Cargo.toml
index a396afa5b2a02d7de1d364fb2ca5af63c8d10c21..d4a430476023470be7d21297934fb720d13f5ec2 100644
--- a/templates/new/_Cargo.toml
+++ b/templates/new/_Cargo.toml
@@ -23,10 +23,6 @@ crate-type = [
 	"cdylib",
 ]
 
-# Needed until https://github.com/paritytech/ink/issues/364 is resolved.
-[profile.release]
-overflow-checks = false
-
 [features]
 default = ["std"]
 std = [