diff --git a/python/ray/__init__.py b/python/ray/__init__.py
index 2ebf7d5f2208..60ed81dfd4ef 100644
--- a/python/ray/__init__.py
+++ b/python/ray/__init__.py
@@ -11,7 +11,7 @@
 
 # Ray version string. TODO(rkn): This is also defined separately in setup.py.
 # Fix this.
-__version__ = "0.1.1"
+__version__ = "0.1.2"
 
 __all__ = ["register_class", "error_info", "init", "connect", "disconnect",
            "get", "put", "wait", "remote", "log_event", "log_span",
diff --git a/python/setup.py b/python/setup.py
index 6663e36a07a0..9ee34aece90a 100644
--- a/python/setup.py
+++ b/python/setup.py
@@ -59,7 +59,7 @@ def has_ext_modules(self):
 
 
 setup(name="ray",
-      version="0.1.1",
+      version="0.1.2",
       packages=find_packages(),
       cmdclass={"build_ext": build_ext},
       # The BinaryDistribution argument triggers build_ext.