diff --git a/CHANGELOG.md b/CHANGELOG.md
index 33a617e285..1483104232 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,4 @@
-# Unreleased
+# 12.3 (2024-Oct-14)
 
 ## Improvements
 
diff --git a/meson.build b/meson.build
index e0f8c515d3..2888c12221 100644
--- a/meson.build
+++ b/meson.build
@@ -1,4 +1,4 @@
-project('picom', 'c', version: '12.2',
+project('picom', 'c', version: '12.3',
         default_options: ['c_std=c11', 'warning_level=1'])
 
 cc = meson.get_compiler('c')