diff --git a/conda/dgl/meta.yaml b/conda/dgl/meta.yaml
index 5b748eebf48c..1f9834939de1 100644
--- a/conda/dgl/meta.yaml
+++ b/conda/dgl/meta.yaml
@@ -1,6 +1,6 @@
 package:
   name: dgl{{ environ.get('DGL_PACKAGE_SUFFIX', '') }}
-  version: 2.3{{ environ.get('DGL_VERSION_SUFFIX', '') }}
+  version: 2.3.0{{ environ.get('DGL_VERSION_SUFFIX', '') }}
 
 source:
   git_rev: {{ environ.get('DGL_RELEASE_BRANCH', 'master') }}
diff --git a/include/dgl/runtime/c_runtime_api.h b/include/dgl/runtime/c_runtime_api.h
index 58c3405f8683..87350ea55541 100644
--- a/include/dgl/runtime/c_runtime_api.h
+++ b/include/dgl/runtime/c_runtime_api.h
@@ -33,7 +33,7 @@
 #endif
 
 // DGL version
-#define DGL_VERSION "2.3"
+#define DGL_VERSION "2.3.0"
 
 #ifdef __cplusplus
 extern "C" {
diff --git a/python/dgl/_ffi/libinfo.py b/python/dgl/_ffi/libinfo.py
index 83deb688867f..577a1dff4bc3 100644
--- a/python/dgl/_ffi/libinfo.py
+++ b/python/dgl/_ffi/libinfo.py
@@ -105,4 +105,4 @@ def find_lib_path(name=None, search_path=None, optional=False):
 # We use the version of the incoming release for code
 # that is under development.
 # The following line is set by dgl/python/update_version.py
-__version__ = "2.3"
+__version__ = "2.3.0"
diff --git a/python/update_version.py b/python/update_version.py
index e19ea7b9ebf1..26bef1e65501 100644
--- a/python/update_version.py
+++ b/python/update_version.py
@@ -16,7 +16,7 @@
 # (usually "aYYMMDD")
 # The environment variable DGL_VERSION_SUFFIX is the local version label
 # suffix for indicating CPU and CUDA versions as in PEP 440 (e.g. "+cu102")
-__version__ = "2.3" + os.getenv("DGL_PRERELEASE", "")
+__version__ = "2.3.0" + os.getenv("DGL_PRERELEASE", "")
 __version__ += os.getenv("DGL_VERSION_SUFFIX", "")
 print(__version__)