diff --git a/docs/conf.py b/docs/conf.py
index e78ecc1cb..88c140b2d 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -42,7 +42,7 @@
 # The short X.Y version
 version = ''
 # The full version, including alpha/beta/rc tags
-release = '0.12.2'
+release = '0.13.0'
 
 docs_url_prefix = "ecosystem/ibm-runtime"
 
diff --git a/qiskit_ibm_runtime/VERSION.txt b/qiskit_ibm_runtime/VERSION.txt
index 26acbf080..54d1a4f2a 100644
--- a/qiskit_ibm_runtime/VERSION.txt
+++ b/qiskit_ibm_runtime/VERSION.txt
@@ -1 +1 @@
-0.12.2
+0.13.0