diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index c656b946f3..aec242da44 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -3,6 +3,6 @@
   "keptn-cert-manager": "2.2.2",
   "runtimes/python-runtime": "1.0.7",
   "runtimes/deno-runtime": "3.0.0",
-  "lifecycle-operator": "1.2.0",
+  "lifecycle-operator": "2.0.0",
   "metrics-operator": "1.1.1"
 }
diff --git a/lifecycle-operator/CHANGELOG.md b/lifecycle-operator/CHANGELOG.md
index a31b3f4dec..725ba6c0ca 100644
--- a/lifecycle-operator/CHANGELOG.md
+++ b/lifecycle-operator/CHANGELOG.md
@@ -1,5 +1,32 @@
 # Changelog
 
+## [2.0.0](https://github.com/keptn/lifecycle-toolkit/compare/lifecycle-operator-v1.2.0...lifecycle-operator-v2.0.0) (2024-11-11)
+
+
+### ⚠ BREAKING CHANGES
+
+* The Keptn Scheduler was removed and therefore support for Kubernetes 1.26 and lower was dropped.
+* remove Keptn scheduler ([#3821](https://github.com/keptn/lifecycle-toolkit/issues/3821))
+
+### Other
+
+* remove Keptn scheduler ([#3821](https://github.com/keptn/lifecycle-toolkit/issues/3821)) ([de3a0e7](https://github.com/keptn/lifecycle-toolkit/commit/de3a0e7a17c8c16ab350188d5235ca6b435c6ba5))
+
+
+### Docs
+
+* remove Keptn scheduler ([#3826](https://github.com/keptn/lifecycle-toolkit/issues/3826)) ([cb01b09](https://github.com/keptn/lifecycle-toolkit/commit/cb01b09ec5ec079595e5d64de70c541b432f4de0))
+
+
+### Dependency Updates
+
+* bump umbrella chart dependencies ([#3816](https://github.com/keptn/lifecycle-toolkit/issues/3816)) ([302150a](https://github.com/keptn/lifecycle-toolkit/commit/302150a60b07c88d9d1fe6412dfb91f89fb36c7f))
+* update golang docker tag to v1.23.3 ([#3847](https://github.com/keptn/lifecycle-toolkit/issues/3847)) ([a200b38](https://github.com/keptn/lifecycle-toolkit/commit/a200b38e5c4f1b4d024e50585d68410f8ceba446))
+* update module github.com/onsi/ginkgo/v2 to v2.21.0 ([#3834](https://github.com/keptn/lifecycle-toolkit/issues/3834)) ([cbd00cb](https://github.com/keptn/lifecycle-toolkit/commit/cbd00cb6a02c00dffc6961663910d27b717d16d8))
+* update module github.com/onsi/gomega to v1.35.1 ([#3810](https://github.com/keptn/lifecycle-toolkit/issues/3810)) ([cada033](https://github.com/keptn/lifecycle-toolkit/commit/cada033a016569688be95a29269ecfa1688504cc))
+* update module github.com/prometheus/client_golang to v1.20.5 ([#3809](https://github.com/keptn/lifecycle-toolkit/issues/3809)) ([3d72aa0](https://github.com/keptn/lifecycle-toolkit/commit/3d72aa0589ca76251109110390d91dd9f44f3343))
+* update module google.golang.org/grpc to v1.68.0 ([#3850](https://github.com/keptn/lifecycle-toolkit/issues/3850)) ([776ec29](https://github.com/keptn/lifecycle-toolkit/commit/776ec298d1e882d2efd9bcf0aedef340299300d8))
+
 ## [1.2.0](https://github.com/keptn/lifecycle-toolkit/compare/lifecycle-operator-v1.1.1...lifecycle-operator-v1.2.0) (2024-10-31)
 
 
diff --git a/lifecycle-operator/Makefile b/lifecycle-operator/Makefile
index 6da985be42..b0ef63837d 100644
--- a/lifecycle-operator/Makefile
+++ b/lifecycle-operator/Makefile
@@ -7,7 +7,7 @@ RELEASE_REGISTRY?=ghcr.io/keptn
 RELEASE_TIME=$(shell date +%Y%m%d%s)
 BUILD_TIME=$(shell date -u "+%F_%T")
 RELEASE_VERSION?=$(RELEASE_TIME)-v0.24.3#$(shell git describe --tags --match "v*")
-TAG?="v1.2.0" # x-release-please-version
+TAG?="v2.0.0" # x-release-please-version
 RELEASE_IMAGE:=lifecycle-operator:$(TAG)
 CHART_APPVERSION?=""
 
diff --git a/lifecycle-operator/chart/Chart.yaml b/lifecycle-operator/chart/Chart.yaml
index 0a93752f2e..eedd9ac9cf 100644
--- a/lifecycle-operator/chart/Chart.yaml
+++ b/lifecycle-operator/chart/Chart.yaml
@@ -28,8 +28,8 @@ annotations:
   artifacthub.io/operatorCapabilities: Full Lifecycle
 kubeVersion: '>= 1.27.0-0'
 type: application
-version: 0.5.0
-appVersion: v1.2.0 # x-release-please-version
+version: 2.0.0
+appVersion: v1.2.0
 dependencies:
   - name: common
     repository: https://charts.lifecycle.keptn.sh
diff --git a/lifecycle-operator/chart/values.yaml b/lifecycle-operator/chart/values.yaml
index f88ecf5c8c..3600bc21f7 100644
--- a/lifecycle-operator/chart/values.yaml
+++ b/lifecycle-operator/chart/values.yaml
@@ -109,7 +109,7 @@ lifecycleOperator:
 ## @param   lifecycleOperator.image.repository specify registry for manager image
     repository: keptn/lifecycle-operator
 ## @param   lifecycleOperator.image.tag  select tag for manager image
-    tag: v1.2.0 # x-release-please-version
+    tag: v2.0.0 # x-release-please-version
 ## @param   lifecycleOperator.image.imagePullPolicy specify pull policy for the manager image. This overrides global values
     imagePullPolicy: ""
 ## @extra  lifecycleOperator.livenessProbe custom liveness probe for manager container