diff --git a/sdk/openai/Azure.AI.OpenAI/CHANGELOG.md b/sdk/openai/Azure.AI.OpenAI/CHANGELOG.md
index 803541cd70e03..758347301e2cf 100644
--- a/sdk/openai/Azure.AI.OpenAI/CHANGELOG.md
+++ b/sdk/openai/Azure.AI.OpenAI/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 2.1.0-beta.3 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 2.1.0-beta.2 (2024-11-04)
 
 This update brings compatibility with the Azure OpenAI `2024-10-01-preview` service API version as well as the `2.1.0-beta.2` release of the `OpenAI` library.
diff --git a/sdk/openai/Azure.AI.OpenAI/src/Azure.AI.OpenAI.csproj b/sdk/openai/Azure.AI.OpenAI/src/Azure.AI.OpenAI.csproj
index c0f78887b17d7..7f0ea6cbd0cbf 100644
--- a/sdk/openai/Azure.AI.OpenAI/src/Azure.AI.OpenAI.csproj
+++ b/sdk/openai/Azure.AI.OpenAI/src/Azure.AI.OpenAI.csproj
@@ -6,7 +6,7 @@
     </Description>
     <AssemblyTitle>Azure.AI.OpenAI Client Library</AssemblyTitle>
     <PackageTags>Microsoft Azure OpenAI</PackageTags>
-    <Version>2.1.0-beta.2</Version>
+    <Version>2.1.0-beta.3</Version>
     <!--The ApiCompatVersion is managed automatically and should not generally be modified manually.-->
     <DisableEnhancedAnalysis>true</DisableEnhancedAnalysis>
     <TargetFrameworks>$(RequiredTargetFrameworks)</TargetFrameworks>