diff --git a/CMakeLists.txt b/CMakeLists.txt
index 17687f3c9..38dda5b6b 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -59,8 +59,8 @@ set (CMAKE_RUNTIME_OUTPUT_DIRECTORY ${CMAKE_BINARY_DIR})
 
 # set version of the project
 set(LIBYANG_MAJOR_VERSION 3)
-set(LIBYANG_MINOR_VERSION 3)
-set(LIBYANG_MICRO_VERSION 1)
+set(LIBYANG_MINOR_VERSION 4)
+set(LIBYANG_MICRO_VERSION 0)
 set(LIBYANG_VERSION ${LIBYANG_MAJOR_VERSION}.${LIBYANG_MINOR_VERSION}.${LIBYANG_MICRO_VERSION})
 
 # set version of the library