diff --git a/client/ayon_core/version.py b/client/ayon_core/version.py
index e4297e2000..705c2e5594 100644
--- a/client/ayon_core/version.py
+++ b/client/ayon_core/version.py
@@ -1,3 +1,3 @@
 # -*- coding: utf-8 -*-
 """Package declaring AYON core addon version."""
-__version__ = "0.3.3-dev.1"
+__version__ = "0.4.0"
diff --git a/package.py b/package.py
index 73f7174b6f..871a4d39f1 100644
--- a/package.py
+++ b/package.py
@@ -1,6 +1,6 @@
 name = "core"
 title = "Core"
-version = "0.3.3-dev.1"
+version = "0.4.0"
 
 client_dir = "ayon_core"