diff --git a/installer/cloud-sql-proxy-operator.yaml b/installer/cloud-sql-proxy-operator.yaml
index 222c5661..1a16dfa3 100644
--- a/installer/cloud-sql-proxy-operator.yaml
+++ b/installer/cloud-sql-proxy-operator.yaml
@@ -1499,7 +1499,7 @@ spec:
             - --leader-elect
           command:
             - /manager
-          image: gcr.io/cloud-sql-connectors/cloud-sql-operator/cloud-sql-proxy-operator:1.3.0
+          image: gcr.io/cloud-sql-connectors/cloud-sql-operator/cloud-sql-proxy-operator:1.4.0
           livenessProbe:
             httpGet:
               path: /healthz
diff --git a/installer/install.sh b/installer/install.sh
index 9dd9e176..2cd5155d 100644
--- a/installer/install.sh
+++ b/installer/install.sh
@@ -16,8 +16,8 @@
 
 set -euxo # exit 1 from the script when command fails
 
-# If CSQL_OPERATOR_VERSION is not set, use the release version: v1.3.0.
-CSQL_OPERATOR_VERSION="${CSQL_OPERATOR_VERSION:-v1.3.0}"
+# If CSQL_OPERATOR_VERSION is not set, use the release version: v1.4.0.
+CSQL_OPERATOR_VERSION="${CSQL_OPERATOR_VERSION:-v1.4.0}"
 
 # If CSQL_CERT_MANAGER_VERSION is not set, use the default: v1.13.2.
 CSQL_CERT_MANAGER_VERSION="${CSQL_CERT_MANAGER_VERSION:-v1.13.2}"