diff --git a/CHANGELOG.md b/CHANGELOG.md
index 627f5f6887..8bc713d4e0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,7 @@
+0.49.0
+------
+
+
 0.48.0
 ------
 
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 549e5d6c34..91afcd5cd0 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -81,7 +81,7 @@ endif()
 message(STATUS "Configuring OpenMW...")
 
 set(OPENMW_VERSION_MAJOR 0)
-set(OPENMW_VERSION_MINOR 48)
+set(OPENMW_VERSION_MINOR 49)
 set(OPENMW_VERSION_RELEASE 0)
 
 set(OPENMW_VERSION_COMMITHASH "")
diff --git a/README.md b/README.md
index b1ea6cbde3..1a49cbc50c 100644
--- a/README.md
+++ b/README.md
@@ -5,7 +5,7 @@ OpenMW is an open-source open-world RPG game engine that supports playing Morrow
 
 OpenMW also comes with OpenMW-CS, a replacement for Bethesda's Construction Set.
 
-* Version: 0.48.0
+* Version: 0.49.0
 * License: GPLv3 (see [LICENSE](https://gitlab.com/OpenMW/openmw/-/raw/master/LICENSE) for more information)
 * Website: https://www.openmw.org
 * IRC: #openmw on irc.libera.chat