diff --git a/NEWS b/NEWS
index 1678d45a4..67b1b2746 100644
--- a/NEWS
+++ b/NEWS
@@ -1,6 +1,15 @@
-intel-vaapi-driver NEWS -- summary of changes.  2018-07-11
+intel-vaapi-driver NEWS -- summary of changes.  2018-11-xxx
 Copyright (C) 2009-2018 Intel Corporation
 
+Version 2.3.0 - DD.Nov.2018
+* Bump version to 2.3.0
+* Add new PCI ID for KBL and CFL
+* Fix frame corruption when there are big MVs in VP8 encoding
+* Fix dynamically bitrate resetting in AVC encoding
+* Fix build errors when the toolchain doesn't support -fstack-protector
+* Make sure the achieved bitrate meet the requirement VP8 encoding
+* Optimize VPP on GEN8
+
 Version 2.2.0 - 11.Jul.2018
 * Bump version to 2.2.0
 * Add new PCI ID for KBL-Y
diff --git a/configure.ac b/configure.ac
index cb5c1e719..0397985e4 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,8 +1,8 @@
 # intel-vaapi-driver package version number
 m4_define([intel_vaapi_driver_major_version], [2])
-m4_define([intel_vaapi_driver_minor_version], [2])
+m4_define([intel_vaapi_driver_minor_version], [3])
 m4_define([intel_vaapi_driver_micro_version], [0])
-m4_define([intel_vaapi_driver_pre_version],   [0])
+m4_define([intel_vaapi_driver_pre_version],   [1])
 m4_define([intel_vaapi_driver_version],
           [intel_vaapi_driver_major_version.intel_vaapi_driver_minor_version.intel_vaapi_driver_micro_version])
 m4_if(intel_vaapi_driver_pre_version, [0], [], [
diff --git a/meson.build b/meson.build
index 6a9b50abe..94672effb 100644
--- a/meson.build
+++ b/meson.build
@@ -1,6 +1,6 @@
 project(
   'intel-vaapi-driver', 'c',
-  version : '2.2.0',
+  version : '2.3.0.1',
   meson_version : '>= 0.43.0',
   default_options : [ 'warning_level=1',
                       'buildtype=debugoptimized' ])