diff --git a/configure.ac b/configure.ac
index f6475e8ed0..5ea1c20aef 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,8 +1,8 @@
 # gstreamer-vaapi package version number
 m4_define([gst_vaapi_major_version], [0])
 m4_define([gst_vaapi_minor_version], [3])
-m4_define([gst_vaapi_micro_version], [2])
-m4_define([gst_vaapi_pre_version],   [0])
+m4_define([gst_vaapi_micro_version], [3])
+m4_define([gst_vaapi_pre_version],   [1])
 m4_define([gst_vaapi_version],
           [gst_vaapi_major_version.gst_vaapi_minor_version.gst_vaapi_micro_version])
 m4_if(gst_vaapi_pre_version, [0], [], [