diff --git a/CHANGELOG.md b/CHANGELOG.md
index aad5cba9..bfb1a6b2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [0.0.3] - 2024-05-24
+
 ### Changed
 
 - Manage prometheus-agent configs
@@ -23,6 +25,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 - Initialize project and create heartbeat for the installation.
 
-[Unreleased]: https://github.com/giantswarm/observability-operator/compare/v0.0.2...HEAD
+[Unreleased]: https://github.com/giantswarm/observability-operator/compare/v0.0.3...HEAD
+[0.0.3]: https://github.com/giantswarm/observability-operator/compare/v0.0.2...v0.0.3
 [0.0.2]: https://github.com/giantswarm/observability-operator/compare/v0.0.1...v0.0.2
 [0.0.1]: https://github.com/giantswarm/observability-operator/releases/tag/v0.0.1
diff --git a/helm/observability-operator/Chart.yaml b/helm/observability-operator/Chart.yaml
index 027d2cb9..0144051d 100644
--- a/helm/observability-operator/Chart.yaml
+++ b/helm/observability-operator/Chart.yaml
@@ -3,7 +3,7 @@ name: observability-operator
 description: The observability-operator manages the Giant Swarm observability platform.
 home: https://github.com/giantswarm/observability-operator
 icon: https://s.giantswarm.io/app-icons/giantswarm/1/light.svg
-version: 0.0.2
+version: 0.0.3
 appVersion: 0.0.2
 annotations:
   application.giantswarm.io/team: "atlas"