diff --git a/CHANGELOG.md b/CHANGELOG.md
index c29eed2a26b..e44080cc930 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,16 @@
 
 ### 🛑 Breaking changes 🛑
 
+### 🚩 Deprecations 🚩
+
+### 💡 Enhancements 💡
+
+### 🧰 Bug fixes 🧰
+
+## v0.57.0 Beta
+
+### 🛑 Breaking changes 🛑
+
 - Remove deprecated funcs/types from service related to `Config` (#5755)
 - Change`confighttp.ToClient` to accept a `component.Host` (#5737)
 - Remove deprecated funcs from pdata related to mutable slices (#5754)
diff --git a/cmd/builder/internal/builder/config.go b/cmd/builder/internal/builder/config.go
index 5250d9029c1..7f6b852e25f 100644
--- a/cmd/builder/internal/builder/config.go
+++ b/cmd/builder/internal/builder/config.go
@@ -25,7 +25,7 @@ import (
 	"go.uber.org/zap"
 )
 
-const defaultOtelColVersion = "0.56.0"
+const defaultOtelColVersion = "0.57.0"
 
 // ErrInvalidGoMod indicates an invalid gomod
 var ErrInvalidGoMod = errors.New("invalid gomod specification for module")
diff --git a/cmd/otelcorecol/builder-config.yaml b/cmd/otelcorecol/builder-config.yaml
index 1fda29b20f1..34c4aa49f4e 100644
--- a/cmd/otelcorecol/builder-config.yaml
+++ b/cmd/otelcorecol/builder-config.yaml
@@ -2,29 +2,29 @@ dist:
   module: go.opentelemetry.io/collector/cmd/otelcorecol
   name: otelcorecol
   description: Local OpenTelemetry Collector binary, testing only.
-  version: 0.56.0-dev
-  otelcol_version: 0.56.0
+  version: 0.57.0-dev
+  otelcol_version: 0.57.0
 
 receivers:
   - import: go.opentelemetry.io/collector/receiver/otlpreceiver
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
 exporters:
   - import: go.opentelemetry.io/collector/exporter/loggingexporter
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
   - import: go.opentelemetry.io/collector/exporter/otlpexporter
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
   - import: go.opentelemetry.io/collector/exporter/otlphttpexporter
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
 extensions:
   - import: go.opentelemetry.io/collector/extension/ballastextension
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
   - import: go.opentelemetry.io/collector/extension/zpagesextension
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
 processors:
   - import: go.opentelemetry.io/collector/processor/batchprocessor
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
   - import: go.opentelemetry.io/collector/processor/memorylimiterprocessor
-    gomod: go.opentelemetry.io/collector v0.56.0
+    gomod: go.opentelemetry.io/collector v0.57.0
 
 replaces:
   - go.opentelemetry.io/collector => ../../
diff --git a/cmd/otelcorecol/go.mod b/cmd/otelcorecol/go.mod
index 54b6f6f8d82..adaefb732ef 100644
--- a/cmd/otelcorecol/go.mod
+++ b/cmd/otelcorecol/go.mod
@@ -6,7 +6,7 @@ go 1.17
 
 require (
 	github.com/stretchr/testify v1.8.0
-	go.opentelemetry.io/collector v0.56.0
+	go.opentelemetry.io/collector v0.57.0
 	golang.org/x/sys v0.0.0-20220520151302-bc2c85ada10a
 )
 
diff --git a/cmd/otelcorecol/main.go b/cmd/otelcorecol/main.go
index 5d7e8b74f6b..ddd579d8b87 100644
--- a/cmd/otelcorecol/main.go
+++ b/cmd/otelcorecol/main.go
@@ -19,7 +19,7 @@ func main() {
 	info := component.BuildInfo{
 		Command:     "otelcorecol",
 		Description: "Local OpenTelemetry Collector binary, testing only.",
-		Version:     "0.56.0-dev",
+		Version:     "0.57.0-dev",
 	}
 
 	if err := run(service.CollectorSettings{BuildInfo: info, Factories: factories}); err != nil {
diff --git a/examples/k8s/otel-config.yaml b/examples/k8s/otel-config.yaml
index 59141db5e74..c6a97efa7ab 100644
--- a/examples/k8s/otel-config.yaml
+++ b/examples/k8s/otel-config.yaml
@@ -66,7 +66,7 @@ spec:
       - command:
           - "/otelcol"
           - "--config=/conf/otel-agent-config.yaml"
-        image: otel/opentelemetry-collector:0.56.0
+        image: otel/opentelemetry-collector:0.57.0
         name: otel-agent
         resources:
           limits:
@@ -177,7 +177,7 @@ spec:
       - command:
           - "/otelcol"
           - "--config=/conf/otel-collector-config.yaml"
-        image: otel/opentelemetry-collector:0.56.0
+        image: otel/opentelemetry-collector:0.57.0
         name: otel-collector
         resources:
           limits:
diff --git a/versions.yaml b/versions.yaml
index 78e60097ebe..389efd79c6f 100644
--- a/versions.yaml
+++ b/versions.yaml
@@ -14,7 +14,7 @@
 
 module-sets:
   collector-core:
-    version: v0.56.0
+    version: v0.57.0
     modules:
       - go.opentelemetry.io/collector
       - go.opentelemetry.io/collector/cmd/builder