diff --git a/CMakeLists.txt b/CMakeLists.txt
index 93ee338d9..73e4f0af6 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -1,7 +1,7 @@
 cmake_minimum_required(VERSION 3.12)
 project(pyg)
 set(CMAKE_CXX_STANDARD 17)
-set(PYG_VERSION 0.3.0)
+set(PYG_VERSION 0.3.1)
 
 option(BUILD_TEST "Enable testing" OFF)
 option(BUILD_BENCHMARK "Enable benchmarks" OFF)
diff --git a/pyg_lib/__init__.py b/pyg_lib/__init__.py
index 042162e5c..573c008bf 100644
--- a/pyg_lib/__init__.py
+++ b/pyg_lib/__init__.py
@@ -11,7 +11,7 @@
 
 from .home import get_home_dir, set_home_dir
 
-__version__ = '0.3.0'
+__version__ = '0.3.1'
 
 # * `libpyg.so`: The name of the shared library file.
 # * `torch.ops.pyg`: The used namespace.
diff --git a/setup.py b/setup.py
index 0d78dc27b..05d885bac 100644
--- a/setup.py
+++ b/setup.py
@@ -12,7 +12,7 @@
 from setuptools import Extension, find_packages, setup
 from setuptools.command.build_ext import build_ext
 
-__version__ = '0.3.0'
+__version__ = '0.3.1'
 URL = 'https://github.com/pyg-team/pyg-lib'