diff --git a/docs/source/conf.py b/docs/source/conf.py
index a046f2f45..5c59980ac 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -21,7 +21,7 @@
 project = "Olive"
 copyright = "2023, olivedevteam@microsoft.com"
 author = "olivedevteam@microsoft.com"
-version = "latest"
+version = "0.7.1"
 
 # -- General configuration ---------------------------------------------------
 # https://www.sphinx-doc.org/en/master/usage/configuration.html#general-configuration
diff --git a/olive/__init__.py b/olive/__init__.py
index a415bd81f..e0813b416 100644
--- a/olive/__init__.py
+++ b/olive/__init__.py
@@ -14,4 +14,4 @@
 _logger.addHandler(_sc)
 _logger.propagate = False
 
-__version__ = "0.7.0"
+__version__ = "0.7.1"