diff --git a/Tensile/__init__.py b/Tensile/__init__.py
index 6dd701cb62..d9de78ede3 100644
--- a/Tensile/__init__.py
+++ b/Tensile/__init__.py
@@ -20,4 +20,4 @@
 ################################################################################
 
 # hardcoded tensile version; also in Tensile/Source/TensileConfigVersion.cmake
-__version__ = "4.8.1"
+__version__ = "4.9.0"
diff --git a/bump-version.sh b/bump-version.sh
index 342e9dc70a..5786a32eec 100755
--- a/bump-version.sh
+++ b/bump-version.sh
@@ -3,8 +3,8 @@
 # This script needs to be edited to bump version for new release.
 # Version will be bumped in Tensile/__init__.py and in .yaml files
 
-OLD_VERSION="4.8.0"
-NEW_VERSION="4.8.1"
+OLD_VERSION="4.8.1"
+NEW_VERSION="4.9.0"
 
 OLD_MINIMUM_REQUIRED_VERSION="MinimumRequiredVersion: 4.7.2"
 NEW_MINIMUM_REQUIRED_VERSION="MinimumRequiredVersion: 4.8.0"