diff --git a/components/esp_common/include/esp_idf_version.h b/components/esp_common/include/esp_idf_version.h
index ac1f98a9fa..f731f9d41d 100644
--- a/components/esp_common/include/esp_idf_version.h
+++ b/components/esp_common/include/esp_idf_version.h
@@ -23,7 +23,7 @@ extern "C" {
 /** Minor version number (x.X.x) */
 #define ESP_IDF_VERSION_MINOR   0
 /** Patch version number (x.x.X) */
-#define ESP_IDF_VERSION_PATCH   2
+#define ESP_IDF_VERSION_PATCH   3
 
 /**
  * Macro to convert IDF version number into an integer
diff --git a/make/version.mk b/make/version.mk
index b27af45fcf..ec4821a4c2 100644
--- a/make/version.mk
+++ b/make/version.mk
@@ -1,3 +1,3 @@
 IDF_VERSION_MAJOR := 4
 IDF_VERSION_MINOR := 0
-IDF_VERSION_PATCH := 2
+IDF_VERSION_PATCH := 3
diff --git a/tools/cmake/version.cmake b/tools/cmake/version.cmake
index 4e0672261f..d250d87328 100644
--- a/tools/cmake/version.cmake
+++ b/tools/cmake/version.cmake
@@ -1,3 +1,3 @@
 set(IDF_VERSION_MAJOR 4)
 set(IDF_VERSION_MINOR 0)
-set(IDF_VERSION_PATCH 2)
+set(IDF_VERSION_PATCH 3)