diff --git a/docs/conf.py b/docs/conf.py
index 2d7a4c70e..d656b0ad3 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -27,7 +27,7 @@
 # The short X.Y version
 version = ''
 # The full version, including alpha/beta/rc tags
-release = '0.27.0'
+release = '0.28.0'
 
 # -- General configuration ---------------------------------------------------
 
diff --git a/qiskit_ibm_runtime/VERSION.txt b/qiskit_ibm_runtime/VERSION.txt
index 1b58cc101..697f087f3 100644
--- a/qiskit_ibm_runtime/VERSION.txt
+++ b/qiskit_ibm_runtime/VERSION.txt
@@ -1 +1 @@
-0.27.0
+0.28.0