diff --git a/CMakeLists.txt b/CMakeLists.txt
index f25ce408a..88c777242 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -46,7 +46,7 @@ message(STATUS "CMAKE_INSTALL_PREFIX = ${CMAKE_INSTALL_PREFIX}")
 
 set(SVT_HEVC_VERSION_MAJOR           "1")
 set(SVT_HEVC_VERSION_MINOR           "4")
-set(SVT_HEVC_VERSION_PATCHLEVEL      "2")
+set(SVT_HEVC_VERSION_PATCHLEVEL      "3")
 
 configure_file(${PROJECT_SOURCE_DIR}/Source/API/EbApiVersion.h.in ${PROJECT_SOURCE_DIR}/Source/API/EbApiVersion.h @ONLY)