diff --git a/optimum/intel/version.py b/optimum/intel/version.py
index c45ac6501..3f203e4d8 100644
--- a/optimum/intel/version.py
+++ b/optimum/intel/version.py
@@ -12,4 +12,4 @@
 #  See the License for the specific language governing permissions and
 #  limitations under the License.
 
-__version__ = "1.7.4.dev0"
+__version__ = "1.8.0"