diff --git a/deploy/operator.yaml b/deploy/operator.yaml
index 16c3ff277..e1516f640 100644
--- a/deploy/operator.yaml
+++ b/deploy/operator.yaml
@@ -16,7 +16,7 @@ spec:
       containers:
         - name: keycloak-operator
           # Replace this with the built image name
-          image: quay.io/keycloak/keycloak-operator:12.0.2
+          image: quay.io/keycloak/keycloak-operator:12.0.3
           command:
           - keycloak-operator
           imagePullPolicy: Always
diff --git a/pkg/model/image_manager.go b/pkg/model/image_manager.go
index ab710ea99..8b18ac776 100644
--- a/pkg/model/image_manager.go
+++ b/pkg/model/image_manager.go
@@ -15,7 +15,7 @@ const (
 	RHMIBackupContainer   = "RELATED_IMAGE_RHMI_BACKUP_CONTAINER"
 	PostgresqlImage       = "RELATED_IMAGE_POSTGRESQL"
 
-	DefaultKeycloakImage         = "quay.io/keycloak/keycloak:12.0.2"
+	DefaultKeycloakImage         = "quay.io/keycloak/keycloak:12.0.3"
 	DefaultRHSSOImageOpenJ9      = "registry.redhat.io/rh-sso-7/sso74-openj9-openshift-rhel8:7.4"
 	DefaultRHSSOImageOpenJDK     = "registry.redhat.io/rh-sso-7/sso74-openshift-rhel8:7.4"
 	DefaultKeycloakInitContainer = "quay.io/keycloak/keycloak-init-container:master"
diff --git a/release-details b/release-details
index 452026354..94bd3e8f2 100644
--- a/release-details
+++ b/release-details
@@ -1,3 +1,3 @@
-VERSION=12.0.2
+VERSION=12.0.3
 SHORT_VERSION=12.0
-NPM_VERSION=12.0.2
+NPM_VERSION=12.0.3
diff --git a/version/version.go b/version/version.go
index 371129825..035573845 100644
--- a/version/version.go
+++ b/version/version.go
@@ -1,5 +1,5 @@
 package version
 
 var (
-	Version = "12.0.2"
+	Version = "12.0.3"
 )