diff --git a/setup.py b/setup.py
index 45e49f3c9a..c2e2031925 100644
--- a/setup.py
+++ b/setup.py
@@ -15,7 +15,7 @@
 from setuptools import find_packages, setup
 
 
-VERSION = "0.8.0"
+VERSION = "0.8.1.dev0"
 
 extras = {}
 extras["quality"] = ["black ~= 22.0", "ruff>=0.0.241", "urllib3<=2.0.0"]
diff --git a/src/peft/__init__.py b/src/peft/__init__.py
index 3a6618cce3..1db4150dda 100644
--- a/src/peft/__init__.py
+++ b/src/peft/__init__.py
@@ -17,7 +17,7 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-__version__ = "0.8.0"
+__version__ = "0.8.1.dev0"
 
 from .auto import (
     AutoPeftModel,