diff --git a/Makefile b/Makefile
index cbb18907..71b42316 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 ?= 1.1.0
+VERSION ?= 1.2.0
 
 # 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/config/manifests/bases/wildfly-operator.clusterserviceversion.yaml b/config/manifests/bases/wildfly-operator.clusterserviceversion.yaml
index e204cce1..470e5f1b 100644
--- a/config/manifests/bases/wildfly-operator.clusterserviceversion.yaml
+++ b/config/manifests/bases/wildfly-operator.clusterserviceversion.yaml
@@ -19,7 +19,7 @@ metadata:
     capabilities: Seamless Upgrades
     categories: Application Runtime
     certified: "false"
-    containerImage: quay.io/wildfly/wildfly-operator:1.1.0
+    containerImage: quay.io/wildfly/wildfly-operator:1.2.0
     createdAt: "2024-05-10T00:00:00Z"
     description: Operator that deploys and manages Java applications running on WildFly.
     operators.operatorframework.io/builder: operator-sdk-v1.25.4
@@ -359,8 +359,8 @@ spec:
   minKubeVersion: 1.25.0
   provider:
     name: WildFly
-  replaces: wildfly-operator.v1.0.0
+  replaces: wildfly-operator.v1.1.0
   selector:
     matchLabels:
       operated-by: wildfly-operator
-  version: 1.1.0
+  version: 1.2.0
diff --git a/version/version.go b/version/version.go
index f6589698..a407b14b 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 = "1.1.0"
+	Version = "1.2.0"
 )