diff --git a/CMakeLists.txt b/CMakeLists.txt
index 33b23bd8..e6944924 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -1,6 +1,18 @@
 cmake_minimum_required(VERSION 3.24.0 FATAL_ERROR)
 
-project(legateboost VERSION 1.0 LANGUAGES C CXX CUDA)
+# read project version from VERSION file
+file(READ "${CMAKE_CURRENT_LIST_DIR}/VERSION" _version_content)
+if(_version_content MATCHES [[^([0-9]+)\.([0-9]+)\.([0-9]+)]])
+  set(_legateboost_version "${CMAKE_MATCH_1}.${CMAKE_MATCH_2}.${CMAKE_MATCH_3}")
+else()
+  string(REPLACE "\n" "\n  " _legateboost_content_formatted "  ${_version_content}")
+  message(
+    FATAL_ERROR
+      "Could not determine project version. Contents of VERSION file:\n${_legateboost_content_formatted}"
+  )
+endif()
+
+project(legateboost VERSION "${_legateboost_version}" LANGUAGES C CXX CUDA)
 
 option(SANITIZE "Build with address sanitizer" OFF)
 
diff --git a/MANIFEST.in b/MANIFEST.in
new file mode 100644
index 00000000..204af9d1
--- /dev/null
+++ b/MANIFEST.in
@@ -0,0 +1 @@
+include legateboost/VERSION
diff --git a/VERSION b/VERSION
new file mode 100644
index 00000000..6e8bf73a
--- /dev/null
+++ b/VERSION
@@ -0,0 +1 @@
+0.1.0
diff --git a/contributing.md b/contributing.md
index e66c3b92..689d4222 100644
--- a/contributing.md
+++ b/contributing.md
@@ -73,6 +73,12 @@ Run all checks manually.
 ```
 pre-commit run --all-files
 ```
+
+## Change the project version
+
+The `VERSION` file at the root of the repo is the single source for `legate-boost`'s version.
+Modify that file to change the version for wheels, conda packages, the CMake project, etc.
+
 ## Development principles
 
 The following general principles should be followed when developing `legate-boost`.
diff --git a/docs/source/conf.py b/docs/source/conf.py
index b571aad8..0751ae3a 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -3,11 +3,15 @@
 # For the full list of built-in configuration values, see the documentation:
 # https://www.sphinx-doc.org/en/master/usage/configuration.html
 
+from datetime import datetime
+
+import legateboost
+
 # -- Project information -----------------------------------------------------
 # https://www.sphinx-doc.org/en/master/usage/configuration.html#project-information
 
 project = "legate-boost"
-copyright = "2023, NVIDIA"
+copyright = f"2023-{datetime.today().year}, NVIDIA"
 author = "NVIDIA"
 
 # -- General configuration ---------------------------------------------------
@@ -27,6 +31,16 @@
 
 source_suffix = {".rst": "restructuredtext", ".md": "markdown"}
 
+# The version info for the project you're documenting, acts as replacement for
+# |version| and |release|, also used in various other places throughout the
+# built documents.
+#
+
+# The short X.Y version.
+version = legateboost.__version__
+
+# The full version, including alpha/beta/rc tags.
+release = version
 
 # -- Options for HTML output -------------------------------------------------
 # https://www.sphinx-doc.org/en/master/usage/configuration.html#options-for-html-output
diff --git a/legateboost/VERSION b/legateboost/VERSION
new file mode 120000
index 00000000..6ff19de4
--- /dev/null
+++ b/legateboost/VERSION
@@ -0,0 +1 @@
+../VERSION
\ No newline at end of file
diff --git a/legateboost/__init__.py b/legateboost/__init__.py
index 42ecd102..29f29e57 100644
--- a/legateboost/__init__.py
+++ b/legateboost/__init__.py
@@ -25,3 +25,4 @@
     EarlyStopping,
 )
 from .utils import mod_col_by_idx, pick_col_by_idx, set_col_by_idx
+from ._version import __version__
diff --git a/legateboost/_version.py b/legateboost/_version.py
new file mode 100644
index 00000000..f2d8aed5
--- /dev/null
+++ b/legateboost/_version.py
@@ -0,0 +1,7 @@
+import importlib.resources
+
+__version__ = (
+    importlib.resources.files(__package__).joinpath("VERSION").read_text().strip()
+)
+
+__all__ = ["__version__"]
diff --git a/legateboost/test/test_version.py b/legateboost/test/test_version.py
new file mode 100644
index 00000000..8872b864
--- /dev/null
+++ b/legateboost/test/test_version.py
@@ -0,0 +1,7 @@
+import legateboost
+
+
+def test_version_constants_are_populated():
+    # __version__ should always be non-empty
+    assert isinstance(legateboost.__version__, str)
+    assert len(legateboost.__version__) > 0
diff --git a/pyproject.toml b/pyproject.toml
index a76371b9..4a9dc20a 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -9,7 +9,7 @@ build-backend = "setuptools.build_meta"
 
 [project]
 name = "legate-boost"
-version = "0.1"
+dynamic = ["version"]
 authors = [
     {name = "NVIDIA Corporation"},
 ]
@@ -45,6 +45,9 @@ test = [
     "xgboost",
 ] # This list was generated by `rapids-dependency-file-generator`. To make changes, edit dependencies.yaml and run `rapids-dependency-file-generator`.
 
+[tool.setuptools.dynamic]
+version = {file = "legateboost/VERSION"}
+
 [tool.mypy]
 
 disallow_untyped_defs = true