diff --git a/kapitan/version.py b/kapitan/version.py
index 6f79a37a3..d950fc9b4 100644
--- a/kapitan/version.py
+++ b/kapitan/version.py
@@ -8,7 +8,7 @@
 """Project description variables."""
 
 PROJECT_NAME = "kapitan"
-VERSION = "0.31.1rc3"
+VERSION = "0.32.0rc0"
 DESCRIPTION = "Generic templated configuration management for Kubernetes, Terraform and other things"
 AUTHOR = "Ricardo Amaro"
 AUTHOR_EMAIL = "ramaro@kapicorp.com"
diff --git a/pyproject.toml b/pyproject.toml
index 8329fbffb..e92a61073 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -24,7 +24,7 @@ classifiers = [
     "Programming Language :: Python :: 3.9",
 ]
 license = "Apache-2.0"
-version = "0.31.1rc3"
+version = "0.32.0rc0"
 packages = [
     { include = "kapitan" },
     { include = "kapitan/reclass" },