diff --git a/python/semantic_kernel/__init__.py b/python/semantic_kernel/__init__.py
index add5f5ea81bc..e445b2cef015 100644
--- a/python/semantic_kernel/__init__.py
+++ b/python/semantic_kernel/__init__.py
@@ -2,7 +2,7 @@
 
 from semantic_kernel.kernel import Kernel
 
-__version__ = "1.45.0"
+__version__ = "1.46.0"
 
 DEFAULT_RC_VERSION = f"{__version__}-rc9"