diff --git a/sky/__init__.py b/sky/__init__.py
index 8e5007bb38b..fd5a68cc8fd 100644
--- a/sky/__init__.py
+++ b/sky/__init__.py
@@ -3,7 +3,7 @@
 
 # Replaced with the current commit when building the wheels.
 __commit__ = '{{SKYPILOT_COMMIT_SHA}}'
-__version__ = '1.0.0-dev0'
+__version__ = '0.4.0'
 __root_dir__ = os.path.dirname(os.path.abspath(__file__))
 
 # Keep this order to avoid cyclic imports