diff --git a/config/cloudpaks/cp4a/operators/Chart.yaml b/config/cloudpaks/cp4a/operators/Chart.yaml
index dcf18fa3..ba955ace 100644
--- a/config/cloudpaks/cp4a/operators/Chart.yaml
+++ b/config/cloudpaks/cp4a/operators/Chart.yaml
@@ -16,9 +16,9 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 0.6.1
+version: 0.7.0
 
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
 # follow Semantic Versioning. They should reflect the version the application is using.
-appVersion: "22.0.2"
+appVersion: "23.0.1"
diff --git a/config/cloudpaks/cp4a/operators/templates/0110-base-operator.yaml b/config/cloudpaks/cp4a/operators/templates/0110-base-operator.yaml
index ab7d3ddf..5709dce4 100644
--- a/config/cloudpaks/cp4a/operators/templates/0110-base-operator.yaml
+++ b/config/cloudpaks/cp4a/operators/templates/0110-base-operator.yaml
@@ -8,7 +8,7 @@ metadata:
   annotations:
     argocd.argoproj.io/sync-wave: "110"
 spec:
-  channel: v22.2
+  channel: v23.1
   installPlanApproval: Automatic
   name: ibm-cp4a-operator
   source: ibm-operator-catalog
diff --git a/config/cloudpaks/cp4a/resources/Chart.yaml b/config/cloudpaks/cp4a/resources/Chart.yaml
index 62d4199f..d2be637d 100644
--- a/config/cloudpaks/cp4a/resources/Chart.yaml
+++ b/config/cloudpaks/cp4a/resources/Chart.yaml
@@ -16,9 +16,9 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 0.6.1
+version: 0.7.0
 
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
 # follow Semantic Versioning. They should reflect the version the application is using.
-appVersion: "22.0.2"
+appVersion: "23.0.1"
diff --git a/config/cloudpaks/cp4a/resources/templates/0201-icp4a-cluster.yaml b/config/cloudpaks/cp4a/resources/templates/0201-icp4a-cluster.yaml
index 13170f29..dd9bdf19 100644
--- a/config/cloudpaks/cp4a/resources/templates/0201-icp4a-cluster.yaml
+++ b/config/cloudpaks/cp4a/resources/templates/0201-icp4a-cluster.yaml
@@ -11,7 +11,7 @@ metadata:
     argocd.argoproj.io/sync-wave: "201"
   namespace: {{.Values.argocd_app_namespace}}
 spec:
-  appVersion: 22.0.2
+  appVersion: 23.0.1
   olm_deployment_type: Starter
   olm_ibm_license: true
   olm_starter_application: false