diff --git a/Makefile b/Makefile
index 376e3cafc9..669ac9f6d6 100644
--- a/Makefile
+++ b/Makefile
@@ -39,7 +39,7 @@ USE_LOW_VERSION_NDK=No
 USE_ANT=No
 
 SHAREDLIB_MAJORVERSION=7
-FULL_VERSION := 2.3.0
+FULL_VERSION := 2.4.0
 
 ifeq (,$(wildcard $(SRC_PATH)gmp-api))
 HAVE_GMP_API=No
diff --git a/build/platform-darwin.mk b/build/platform-darwin.mk
index dee215c292..609a1eda22 100644
--- a/build/platform-darwin.mk
+++ b/build/platform-darwin.mk
@@ -3,8 +3,8 @@ SHAREDLIB_DIR = $(PREFIX)/lib
 SHAREDLIBSUFFIX = dylib
 SHAREDLIBSUFFIXFULLVER=$(FULL_VERSION).$(SHAREDLIBSUFFIX)
 SHAREDLIBSUFFIXMAJORVER=$(SHAREDLIB_MAJORVERSION).$(SHAREDLIBSUFFIX)
-CURRENT_VERSION := 2.3.0
-COMPATIBILITY_VERSION := 2.3.0
+CURRENT_VERSION := 2.4.0
+COMPATIBILITY_VERSION := 2.4.0
 SHLDFLAGS = -dynamiclib -twolevel_namespace -undefined dynamic_lookup \
 	-fno-common -headerpad_max_install_names -install_name \
 	$(SHAREDLIB_DIR)/$(LIBPREFIX)$(PROJECT_NAME).$(SHAREDLIBSUFFIXMAJORVER)
diff --git a/codec/api/wels/codec_ver.h b/codec/api/wels/codec_ver.h
index 0944109b2b..14848d771a 100644
--- a/codec/api/wels/codec_ver.h
+++ b/codec/api/wels/codec_ver.h
@@ -4,12 +4,12 @@
 
 #include "codec_app_def.h"
 
-static const OpenH264Version g_stCodecVersion  = {2, 3, 0, 2206};
-static const char* const g_strCodecVer  = "OpenH264 version:2.3.0.2206";
+static const OpenH264Version g_stCodecVersion  = {2, 4, 0, 2310};
+static const char* const g_strCodecVer  = "OpenH264 version:2.4.0.2310";
 
 #define OPENH264_MAJOR (2)
-#define OPENH264_MINOR (3)
+#define OPENH264_MINOR (4)
 #define OPENH264_REVISION (0)
-#define OPENH264_RESERVED (2206)
+#define OPENH264_RESERVED (2310)
 
 #endif  // CODEC_VER_H
diff --git a/gmpopenh264.info b/gmpopenh264.info
index b66b67aea4..518bb9e04a 100644
--- a/gmpopenh264.info
+++ b/gmpopenh264.info
@@ -1,4 +1,4 @@
 Name: gmpopenh264
 Description: GMP Plugin for OpenH264.
-Version: 2.3.0
+Version: 2.4.0
 APIs: encode-video[h264], decode-video[h264]
diff --git a/meson.build b/meson.build
index 9cad9f5667..419a86822e 100644
--- a/meson.build
+++ b/meson.build
@@ -1,5 +1,5 @@
 project('openh264', ['c', 'cpp'],
-  version : '2.3.0',
+  version : '2.4.0',
   meson_version : '>= 0.52',
   default_options : [ 'warning_level=1',
                       'buildtype=debugoptimized' ])
diff --git a/openh264.rc b/openh264.rc
index 04b2ab6e78..d0caecbeec 100644
--- a/openh264.rc
+++ b/openh264.rc
@@ -24,8 +24,8 @@ LANGUAGE LANG_ENGLISH, SUBLANG_ENGLISH_US
 //
 
 VS_VERSION_INFO VERSIONINFO
- FILEVERSION 2,3,0,2206
- PRODUCTVERSION 2,3,0,2206
+ FILEVERSION 2,4,0,2310
+ PRODUCTVERSION 2,4,0,2310
  FILEFLAGSMASK 0x3fL
 #ifdef _DEBUG
  FILEFLAGS 0x1L
@@ -43,12 +43,12 @@ BEGIN
             VALUE "Comments", "Cisco OpenH264 codec"
             VALUE "CompanyName", "Cisco Systems Inc."
             VALUE "FileDescription", "Cisco OpenH264 codec"
-            VALUE "FileVersion", "2.3.0.2206"
+            VALUE "FileVersion", "2.4.0.2310"
             VALUE "InternalName", "openh264.dll"
             VALUE "LegalCopyright", "© 2011-2015 Cisco and/or its affiliates. All rights reserved."
             VALUE "OriginalFilename", "openh264.dll"
             VALUE "ProductName", "Cisco OpenH264 codec"
-            VALUE "ProductVersion", "2.3.0.2206"
+            VALUE "ProductVersion", "2.4.0.2310"
         END
     END
     BLOCK "VarFileInfo"