diff --git a/README.md b/README.md
index 7531cfdd..8ea39c52 100644
--- a/README.md
+++ b/README.md
@@ -8,8 +8,8 @@ CodeFlare Stack Compatibility Matrix
 
 | Component                    | Version                                                                                           |
 |------------------------------|---------------------------------------------------------------------------------------------------|
-| CodeFlare Operator           | [v1.4.0](https://github.com/project-codeflare/codeflare-operator/releases/tag/v1.4.0)             |
-| CodeFlare-SDK                | [v0.16.0](https://github.com/project-codeflare/codeflare-sdk/releases/tag/v0.16.0)                  |
+| CodeFlare Operator           | [v1.4.1](https://github.com/project-codeflare/codeflare-operator/releases/tag/v1.4.1)             |
+| CodeFlare-SDK                | [v0.16.1](https://github.com/project-codeflare/codeflare-sdk/releases/tag/v0.16.1)                  |
 | KubeRay                      | [v1.1.0](https://github.com/opendatahub-io/kuberay/releases/tag/v1.1.0)                              |
 <!-- Compatibility Matrix end -->
 
diff --git a/config/manager/params.env b/config/manager/params.env
index 6ac22e10..e3c1fd4c 100644
--- a/config/manager/params.env
+++ b/config/manager/params.env
@@ -1,2 +1,2 @@
-codeflare-operator-controller-image=quay.io/opendatahub/codeflare-operator:v1.4.0
+codeflare-operator-controller-image=quay.io/opendatahub/codeflare-operator:v1.4.1
 namespace=opendatahub