diff --git a/doc/sphinx/source/conf.py b/doc/sphinx/source/conf.py
index 984c38e5..b97f3783 100644
--- a/doc/sphinx/source/conf.py
+++ b/doc/sphinx/source/conf.py
@@ -51,9 +51,9 @@
 # built documents.
 #
 # The short X.Y version.
-version = '2.15.0'
+version = '2.16.0'
 # The full version, including alpha/beta/rc tags.
-release = '2.15.0'
+release = '2.16.0'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/setup.py b/setup.py
index 0361e316..c1f8d424 100644
--- a/setup.py
+++ b/setup.py
@@ -38,7 +38,7 @@
 NAME = "PyFMI"
 AUTHOR = "Modelon AB"
 AUTHOR_EMAIL = ""
-VERSION = "3.0-dev"
+VERSION = "2.16.0"
 LICENSE = "LGPL"
 URL = "https://github.com/modelon-community/PyFMI"
 DOWNLOAD_URL = "https://github.com/modelon-community/PyFMI/releases"