diff --git a/configure.ac b/configure.ac
index 30cf7d078..39f0bdc88 100644
--- a/configure.ac
+++ b/configure.ac
@@ -42,7 +42,7 @@ m4_define([va_api_version],
 # - reset micro version to zero when VA-API major or minor version is changed
 m4_define([libva_major_version], [m4_eval(va_api_major_version + 1)])
 m4_define([libva_minor_version], [m4_eval(va_api_minor_version)])
-m4_define([libva_micro_version], [0])
+m4_define([libva_micro_version], [1])
 m4_define([libva_pre_version],   [0])
 
 m4_define([libva_version],
diff --git a/meson.build b/meson.build
index 5dacaeccf..842c52576 100644
--- a/meson.build
+++ b/meson.build
@@ -7,7 +7,7 @@
 # - reset micro version to zero when VA-API major or minor version is changed
 project(
   'libva', 'c',
-  version : '2.7.0',
+  version : '2.7.1',
   meson_version : '>= 0.37.0',
   default_options : [ 'warning_level=1',
                       'buildtype=debugoptimized' ])