diff --git a/.VERSION b/.VERSION
index afa2b351..b9268dae 100644
--- a/.VERSION
+++ b/.VERSION
@@ -1 +1 @@
-1.8.0
\ No newline at end of file
+1.8.1
\ No newline at end of file
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3efd4da2..090d1f61 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -12,6 +12,14 @@
 
 ---
 
+[//]: # (START/v1.8.1)
+# v1.8.1
+
+## Fixes
+ * Upgrade operator to use Operator SDK v1.33.0. {#180}
+
+---
+
 [//]: # (START/v1.8.0)
 # v1.8.0
 
diff --git a/Makefile b/Makefile
index 0b92a8e0..d273d932 100644
--- a/Makefile
+++ b/Makefile
@@ -5,7 +5,7 @@ export MAIN_BRANCH ?= main
 # To re-generate a bundle for another specific version without changing the standard setup, you can:
 # - use the VERSION as arg of the bundle target (e.g make bundle VERSION=0.0.2)
 # - use environment variables to overwrite this value (e.g export VERSION=0.0.2)
-VERSION ?= 1.8.0
+VERSION ?= 1.8.1
 
 # CHANNELS define the bundle channels used in the bundle.
 # Add a new line here if you would like to change its default config. (E.g CHANNELS = "candidate,fast,stable")
diff --git a/version/version.go b/version/version.go
index 665c11a5..61bbed6a 100644
--- a/version/version.go
+++ b/version/version.go
@@ -1,6 +1,6 @@
 package version
 
 var (
-	OperatorVersion    = "1.8.0"
+	OperatorVersion    = "1.8.1"
 	OperatorSDKVersion = "1.33.0"
 )