diff --git a/ayon_api/version.py b/ayon_api/version.py
index 636a06ded..3b6f9131f 100644
--- a/ayon_api/version.py
+++ b/ayon_api/version.py
@@ -1,2 +1,2 @@
 """Package declaring Python API for Ayon server."""
-__version__ = "0.5.3-dev.1"
+__version__ = "0.5.3"
diff --git a/pyproject.toml b/pyproject.toml
index 411e43760..bc1845349 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "ayon-python-api"
-version = "0.5.3-dev.1"
+version = "0.5.3"
 description = "AYON Python API"
 license = {file = "LICENSE"}
 readme = {file = "README.md", content-type = "text/markdown"}