diff --git a/Makefile b/Makefile
index fbfd14558e1d..e00ed104e8f2 100644
--- a/Makefile
+++ b/Makefile
@@ -2,7 +2,7 @@
 VENV?=.venv
 # Source virtualenv to execute command (darker, sphinx, twine, etc...)
 IN_VENV=if [ -f "$(VENV)/bin/activate" ]; then . "$(VENV)/bin/activate"; fi;
-RELEASE_CURR:=24.2
+RELEASE_CURR:=24.3
 RELEASE_UPSTREAM:=upstream
 CONFIG_MANAGE=$(IN_VENV) python lib/galaxy/config/config_manage.py
 PROJECT_URL?=https://github.com/galaxyproject/galaxy
diff --git a/lib/galaxy/version.py b/lib/galaxy/version.py
index 319c7fefb8a0..901930688384 100644
--- a/lib/galaxy/version.py
+++ b/lib/galaxy/version.py
@@ -1,3 +1,3 @@
-VERSION_MAJOR = "24.2"
+VERSION_MAJOR = "24.3"
 VERSION_MINOR = "dev0"
 VERSION = VERSION_MAJOR + (f".{VERSION_MINOR}" if VERSION_MINOR else "")