diff --git a/CMakeLists.txt b/CMakeLists.txt
index f1d4c84..e43db83 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -22,7 +22,7 @@ endif()
 add_definitions(-DPERIPHERY_GPIO_CDEV_SUPPORT=${GPIO_CDEV_SUPPORT})
 
 # Library version
-set(VERSION "2.3.1")
+set(VERSION "2.4.0")
 set(SOVERSION ${VERSION})
 
 # Glob sources, headers, tests
diff --git a/src/version.h b/src/version.h
index 39c6965..2c5d16d 100644
--- a/src/version.h
+++ b/src/version.h
@@ -12,8 +12,8 @@ extern "C" {
 #endif
 
 #define PERIPHERY_VERSION_MAJOR 2
-#define PERIPHERY_VERSION_MINOR 3
-#define PERIPHERY_VERSION_PATCH 1
+#define PERIPHERY_VERSION_MINOR 4
+#define PERIPHERY_VERSION_PATCH 0
 
 #ifndef PERIPHERY_VERSION_COMMIT
 #define PERIPHERY_VERSION_COMMIT "unknown"