diff --git a/keras_nlp/__init__.py b/keras_nlp/__init__.py
index 7868a8a9ed..506d071cc8 100644
--- a/keras_nlp/__init__.py
+++ b/keras_nlp/__init__.py
@@ -17,4 +17,4 @@
 from keras_nlp import tokenizers
 from keras_nlp import utils
 
-__version__ = "0.2.0"
+__version__ = "0.3.0"
diff --git a/setup.py b/setup.py
index fac287ae7c..24c26628b6 100644
--- a/setup.py
+++ b/setup.py
@@ -29,7 +29,7 @@
     ),
     long_description=README,
     long_description_content_type="text/markdown",
-    version="0.2.0",
+    version="0.3.0",
     url="https://github.com/keras-team/keras-nlp",
     author="Keras team",
     author_email="keras-nlp@google.com",