diff --git a/Makefile b/Makefile
index 5d7b7114..63716c7c 100644
--- a/Makefile
+++ b/Makefile
@@ -291,6 +291,17 @@ bundle-community-k8s: bundle-community ## Generate bundle manifests and metadata
 bundle-community: bundle ##Add Community Edition suffix to operator name
 	sed -r -i "s|displayName: Self Node Remediation Operator.*|displayName: Self Node Remediation Operator - Community Edition|;" ${BUNDLE_CSV}
 
+# Split the VERSION into major, minor, and patch parts
+MAJOR := $(word 1, $(subst ., ,$(VERSION)))
+MINOR := $(word 2, $(subst ., ,$(VERSION)))
+PATCH := $(word 3, $(subst ., ,$(VERSION)))
+
+# Subtract 1 from the MINOR part
+NEW_MINOR := $(shell echo $$(($(MINOR) - 1)))
+
+# Recreate the DEC_VERSION variable
+DEC_VERSION := $(MAJOR).$(NEW_MINOR).$(PATCH)
+
 .PHONY: bundle-update
 bundle-update: ## Update containerImage, createdAt, skipRange, and icon fields in the bundle's CSV, then validate the bundle directory
 	# update container image in the metadata
@@ -299,6 +310,8 @@ bundle-update: ## Update containerImage, createdAt, skipRange, and icon fields i
 	sed -r -i "s|createdAt: \".*\"|createdAt: \"`date "+%Y-%m-%d %T" `\"|;" ${BUNDLE_CSV}
 	# set skipRange
 	sed -r -i "s|olm.skipRange: .*|olm.skipRange: '>=0.4.0 <${VERSION}'|;" ${BUNDLE_CSV}
+	# set  replaces
+	sed -r -i "s|replaces: .*|replaces: self-node-remediation.v${DEC_VERSION}|;" ${BUNDLE_CSV}
 	# set icon (not version or build date related, but just to not having this huge data permanently in the CSV)
 	sed -r -i "s|base64data:.*|base64data: ${ICON_BASE64}|;" ${BUNDLE_CSV}
 	$(MAKE) bundle-validate
diff --git a/bundle/manifests/self-node-remediation.clusterserviceversion.yaml b/bundle/manifests/self-node-remediation.clusterserviceversion.yaml
index 91d9810f..3e1f691d 100644
--- a/bundle/manifests/self-node-remediation.clusterserviceversion.yaml
+++ b/bundle/manifests/self-node-remediation.clusterserviceversion.yaml
@@ -439,6 +439,7 @@ spec:
   provider:
     name: Medik8s
     url: https://www.medik8s.io/
+  replaces: self-node-remediation.v0.0.0
   version: 0.0.1
   webhookdefinitions:
   - admissionReviewVersions:
diff --git a/config/manifests/bases/self-node-remediation.clusterserviceversion.yaml b/config/manifests/bases/self-node-remediation.clusterserviceversion.yaml
index 2ad04d15..dfda501a 100644
--- a/config/manifests/bases/self-node-remediation.clusterserviceversion.yaml
+++ b/config/manifests/bases/self-node-remediation.clusterserviceversion.yaml
@@ -124,4 +124,5 @@ spec:
   provider:
     name: Medik8s
     url: https://www.medik8s.io/
+  replaces: self-node-remediation.v0.0.0
   version: 0.0.0