diff --git a/VERSION b/VERSION
new file mode 100644
index 000000000..a193fff41
--- /dev/null
+++ b/VERSION
@@ -0,0 +1 @@
+23.12.00
diff --git a/ci/build_cpp.sh b/ci/build_cpp.sh
index e290374fd..4e1b7bd2a 100755
--- a/ci/build_cpp.sh
+++ b/ci/build_cpp.sh
@@ -9,8 +9,10 @@ export CMAKE_GENERATOR=Ninja
 
 rapids-print-env
 
+version=$(rapids-generate-version)
+
 rapids-logger "Begin cpp build"
 
-rapids-conda-retry mambabuild conda/recipes/libwholegraph
+RAPIDS_PACKAGE_VERSION=${version} rapids-conda-retry mambabuild conda/recipes/libwholegraph
 
 rapids-upload-conda-to-s3 cpp
diff --git a/ci/build_python.sh b/ci/build_python.sh
index e4382400e..b79ba92b1 100755
--- a/ci/build_python.sh
+++ b/ci/build_python.sh
@@ -13,15 +13,18 @@ PACKAGES="libwholegraph"
 
 CPP_CHANNEL=$(rapids-download-conda-from-s3 cpp)
 
-rapids-mamba-retry install \
-  --channel "${CPP_CHANNEL}" \
-  "${PACKAGES}"
+version=$(rapids-generate-version)
+git_commit=$(git rev-parse HEAD)
+export RAPIDS_PACKAGE_VERSION=${version}
+echo "${version}" > VERSION
 
 rapids-logger "Begin py build"
 
 # TODO: Remove `--no-test` flags once importing on a CPU
 # node works correctly
 rapids-logger "Begin pylibwholegraph build"
+version_file_pylibwholegraph="python/pylibwholegraph/pylibwholegraph/_version.py"
+sed -i "/^__git_commit__/ s/= .*/= \"${git_commit}\"/g" ${version_file_pylibwholegraph}
 rapids-conda-retry mambabuild \
   --no-test \
   --channel "${CPP_CHANNEL}" \
diff --git a/ci/build_wheel.sh b/ci/build_wheel.sh
index 6e2c9f73c..dd7ce7737 100755
--- a/ci/build_wheel.sh
+++ b/ci/build_wheel.sh
@@ -9,9 +9,8 @@ package_dir="python/pylibwholegraph"
 source rapids-configure-sccache
 source rapids-date-string
 
-# Use gha-tools rapids-pip-wheel-version to generate wheel version then
-# update the necessary files
-version_override="$(rapids-pip-wheel-version ${RAPIDS_DATE_STRING})"
+version=$(rapids-generate-version)
+git_commit=$(git rev-parse HEAD)
 
 RAPIDS_PY_CUDA_SUFFIX="$(rapids-wheel-ctk-name-gen ${RAPIDS_CUDA_VERSION})"
 
@@ -21,9 +20,11 @@ PACKAGE_CUDA_SUFFIX="-${RAPIDS_PY_CUDA_SUFFIX}"
 
 # Patch project metadata files to include the CUDA version suffix and version override.
 pyproject_file="${package_dir}/pyproject.toml"
+version_file="${package_dir}/${package_name}/_version.py"
 
-sed -i "s/^version = .*/version = \"${version_override}\"/g" ${pyproject_file}
 sed -i "s/name = \"${package_name}\"/name = \"${package_name}${PACKAGE_CUDA_SUFFIX}\"/g" ${pyproject_file}
+echo "${version}" > VERSION
+sed -i "/^__git_commit__ / s/= .*/= \"${git_commit}\"/g" ${version_file}
 
 # For nightlies we want to ensure that we're pulling in alphas as well. The
 # easiest way to do so is to augment the spec with a constraint containing a
diff --git a/ci/release/update-version.sh b/ci/release/update-version.sh
index aba3b8403..0f64b213e 100755
--- a/ci/release/update-version.sh
+++ b/ci/release/update-version.sh
@@ -57,11 +57,8 @@ sed_runner '/set(RAPIDS_VERSION/ s/".*"/'\"${NEXT_SHORT_TAG}\"'/g' python/pylibw
 sed_runner 's/version = .*/version = '"'${NEXT_SHORT_TAG}'"'/g' docs/wholegraph/source/conf.py
 sed_runner 's/release = .*/release = '"'${NEXT_FULL_TAG}'"'/g' docs/wholegraph/source/conf.py
 
-# Python __init__.py updates
-sed_runner "s/__version__ = .*/__version__ = \"${NEXT_FULL_TAG}\"/g" python/pylibwholegraph/pylibwholegraph/__init__.py
-
-# Python pyproject.toml updates
-sed_runner "s/^version = .*/version = \"${NEXT_FULL_TAG}\"/g" python/pylibwholegraph/pyproject.toml
+# Centralized version file update
+echo "${NEXT_FULL_TAG}" > VERSION
 
 DEPENDENCIES=(
   libraft
diff --git a/conda/recipes/libwholegraph/meta.yaml b/conda/recipes/libwholegraph/meta.yaml
index c3551fc62..624c78bd5 100644
--- a/conda/recipes/libwholegraph/meta.yaml
+++ b/conda/recipes/libwholegraph/meta.yaml
@@ -1,6 +1,6 @@
 # Copyright (c) 2019-2023, NVIDIA CORPORATION.
 
-{% set version = environ.get('GIT_DESCRIBE_TAG', '0.0.0.dev').lstrip('v') %}
+{% set version = environ['RAPIDS_PACKAGE_VERSION'].lstrip('v') + environ.get('VERSION_SUFFIX', '') %}
 {% set minor_version = version.split('.')[0] + '.' + version.split('.')[1] %}
 {% set cuda_version = '.'.join(environ['RAPIDS_CUDA_VERSION'].split('.')[:2]) %}
 {% set cuda_major = cuda_version.split('.')[0] %}
@@ -11,7 +11,7 @@ package:
   name: libwholegraph-split
 
 source:
-  git_url: ../../..
+  path: ../../..
 
 build:
   script_env:
diff --git a/conda/recipes/pylibwholegraph/meta.yaml b/conda/recipes/pylibwholegraph/meta.yaml
index 7237eb3df..0c7d57dc3 100644
--- a/conda/recipes/pylibwholegraph/meta.yaml
+++ b/conda/recipes/pylibwholegraph/meta.yaml
@@ -1,6 +1,6 @@
 # Copyright (c) 2022-2023, NVIDIA CORPORATION.
 
-{% set version = environ.get('GIT_DESCRIBE_TAG', '0.0.0.dev').lstrip('v') %}
+{% set version = environ['RAPIDS_PACKAGE_VERSION'].lstrip('v') + environ.get('VERSION_SUFFIX', '') %}
 {% set minor_version = version.split('.')[0] + '.' + version.split('.')[1] %}
 {% set cuda_version = '.'.join(environ['RAPIDS_CUDA_VERSION'].split('.')[:2]) %}
 {% set cuda_major = cuda_version.split('.')[0] %}
@@ -12,7 +12,7 @@ package:
   version: {{ version }}
 
 source:
-  git_url: ../../..
+  path: ../../..
 
 build:
   number: {{ GIT_DESCRIBE_NUMBER }}
diff --git a/python/pylibwholegraph/pylibwholegraph/VERSION b/python/pylibwholegraph/pylibwholegraph/VERSION
new file mode 120000
index 000000000..d62dc733e
--- /dev/null
+++ b/python/pylibwholegraph/pylibwholegraph/VERSION
@@ -0,0 +1 @@
+../../../VERSION
\ No newline at end of file
diff --git a/python/pylibwholegraph/pylibwholegraph/__init__.py b/python/pylibwholegraph/pylibwholegraph/__init__.py
index d3184e8d0..f416c96cf 100644
--- a/python/pylibwholegraph/pylibwholegraph/__init__.py
+++ b/python/pylibwholegraph/pylibwholegraph/__init__.py
@@ -11,4 +11,4 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-__version__ = "23.12.00"
+from pylibwholegraph._version import __git_commit__, __version__
diff --git a/python/pylibwholegraph/pylibwholegraph/_version.py b/python/pylibwholegraph/pylibwholegraph/_version.py
new file mode 100644
index 000000000..394252fd0
--- /dev/null
+++ b/python/pylibwholegraph/pylibwholegraph/_version.py
@@ -0,0 +1,21 @@
+# Copyright (c) 2023, NVIDIA CORPORATION.
+#
+# Licensed under the Apache License, Version 2.0 (the "License");
+# you may not use this file except in compliance with the License.
+# You may obtain a copy of the License at
+#
+#     http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing, software
+# distributed under the License is distributed on an "AS IS" BASIS,
+# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+# See the License for the specific language governing permissions and
+# limitations under the License.
+#
+
+import importlib.resources
+
+__version__ = (
+    importlib.resources.files("pylibwholegraph").joinpath("VERSION").read_text().strip()
+)
+__git_commit__ = ""
diff --git a/python/pylibwholegraph/pyproject.toml b/python/pylibwholegraph/pyproject.toml
index 0e3cf966e..ccb14b831 100644
--- a/python/pylibwholegraph/pyproject.toml
+++ b/python/pylibwholegraph/pyproject.toml
@@ -24,7 +24,7 @@ requires = [
 
 [project]
 name = "pylibwholegraph"
-version = "23.12.00"
+dynamic = ["version"]
 description = "pylibwholegraph - GPU Graph Storage for GNN feature and graph structure"
 authors = [
     { name = "NVIDIA Corporation" },
@@ -45,3 +45,6 @@ classifiers = [
 
 [tool.setuptools]
 license-files = ["LICENSE"]
+
+[tool.setuptools.dynamic]
+version = {file = "pylibwholegraph/VERSION"}
diff --git a/python/pylibwholegraph/setup.py b/python/pylibwholegraph/setup.py
index 64b20e762..0a1f3fa42 100644
--- a/python/pylibwholegraph/setup.py
+++ b/python/pylibwholegraph/setup.py
@@ -53,7 +53,8 @@ def run(self):
         ]
     ),
     package_data={
-        "pylibwholegraph": ["torch_cpp_ext/*.cpp", "torch_cpp_ext/*.h"],
+        "pylibwholegraph": ["VERSION", "torch_cpp_ext/*.cpp",
+                            "torch_cpp_ext/*.h"],
     },
     include_package_data=True,
     cmdclass=cmdclass,