diff --git a/README.md b/README.md
index 62770fbb4..686c4f7be 100644
--- a/README.md
+++ b/README.md
@@ -126,6 +126,7 @@ of releases [here](https://github.com/tensorflow/io/releases).
 
 | TensorFlow I/O Version | TensorFlow Compatibility | Release Date |
 | --- | --- | --- |
+| 0.34.0 | 2.13.x | Sep 08, 2023 |
 | 0.33.0 | 2.13.x | Aug 01, 2023 |
 | 0.32.0 | 2.12.x | Mar 28, 2023 |
 | 0.31.0 | 2.11.x | Feb 25, 2023 |
diff --git a/tensorflow_io/python/ops/version_ops.py b/tensorflow_io/python/ops/version_ops.py
index b4a298f16..2e18a28bd 100644
--- a/tensorflow_io/python/ops/version_ops.py
+++ b/tensorflow_io/python/ops/version_ops.py
@@ -14,5 +14,5 @@
 # ==============================================================================
 """version_ops"""
 
-version = "0.33.0"
+version = "0.34.0"
 require = "tensorflow>=2.13.0,<2.14.0"