diff --git a/Makefile b/Makefile
index f4e8eed89..24c0b314d 100644
--- a/Makefile
+++ b/Makefile
@@ -3,7 +3,7 @@
 # To re-generate a bundle for another specific version without changing the standard setup, you can:
 # - use the VERSION as arg of the bundle target (e.g make bundle VERSION=0.0.2)
 # - use environment variables to overwrite this value (e.g export VERSION=0.0.2)
-VERSION ?= 1.0.0
+VERSION ?= 1.0.1
 
 # CHANNELS define the bundle channels used in the bundle.
 # Add a new line here if you would like to change its default config. (E.g CHANNELS = "candidate,fast,stable")
diff --git a/version/version.go b/version/version.go
index 9f033eb56..9d0f4bf12 100644
--- a/version/version.go
+++ b/version/version.go
@@ -2,5 +2,5 @@ package version
 
 var (
 	// Version represents the software version of the WildFly Operator
-	Version = "1.0.0"
+	Version = "1.0.1"
 )