diff --git a/CMakeLists.txt b/CMakeLists.txt
index 508f524a2..cbe57486f 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -377,7 +377,7 @@ if(NOT DISABLE_PACKAGE_CONFIG_AND_INSTALL)
     write_basic_package_version_file(
         "cmake/MbedTLSConfigVersion.cmake"
             COMPATIBILITY SameMajorVersion
-            VERSION 3.4.1)
+            VERSION 3.5.0)
 
     install(
         FILES "${CMAKE_CURRENT_BINARY_DIR}/cmake/MbedTLSConfig.cmake"
diff --git a/doxygen/input/doc_mainpage.h b/doxygen/input/doc_mainpage.h
index 837cec540..b67237fbc 100644
--- a/doxygen/input/doc_mainpage.h
+++ b/doxygen/input/doc_mainpage.h
@@ -22,7 +22,7 @@
  */
 
 /**
- * @mainpage Mbed TLS v3.4.1 API Documentation
+ * @mainpage Mbed TLS v3.5.0 API Documentation
  *
  * This documentation describes the internal structure of Mbed TLS.  It was
  * automatically generated from specially formatted comment blocks in
diff --git a/doxygen/mbedtls.doxyfile b/doxygen/mbedtls.doxyfile
index c8a47d9ea..98b2d7973 100644
--- a/doxygen/mbedtls.doxyfile
+++ b/doxygen/mbedtls.doxyfile
@@ -1,4 +1,4 @@
-PROJECT_NAME           = "Mbed TLS v3.4.1"
+PROJECT_NAME           = "Mbed TLS v3.5.0"
 OUTPUT_DIRECTORY       = ../apidoc/
 FULL_PATH_NAMES        = NO
 OPTIMIZE_OUTPUT_FOR_C  = YES
diff --git a/include/mbedtls/build_info.h b/include/mbedtls/build_info.h
index 533e076e0..842f15c58 100644
--- a/include/mbedtls/build_info.h
+++ b/include/mbedtls/build_info.h
@@ -37,17 +37,17 @@
  * Major, Minor, Patchlevel
  */
 #define MBEDTLS_VERSION_MAJOR  3
-#define MBEDTLS_VERSION_MINOR  4
-#define MBEDTLS_VERSION_PATCH  1
+#define MBEDTLS_VERSION_MINOR  5
+#define MBEDTLS_VERSION_PATCH  0
 
 /**
  * The single version number has the following structure:
  *    MMNNPP00
  *    Major version | Minor version | Patch version
  */
-#define MBEDTLS_VERSION_NUMBER         0x03040100
-#define MBEDTLS_VERSION_STRING         "3.4.1"
-#define MBEDTLS_VERSION_STRING_FULL    "Mbed TLS 3.4.1"
+#define MBEDTLS_VERSION_NUMBER         0x03050000
+#define MBEDTLS_VERSION_STRING         "3.5.0"
+#define MBEDTLS_VERSION_STRING_FULL    "Mbed TLS 3.5.0"
 
 /* Macros for build-time platform detection */
 
diff --git a/library/CMakeLists.txt b/library/CMakeLists.txt
index 2b1fd43d1..84bb7857e 100644
--- a/library/CMakeLists.txt
+++ b/library/CMakeLists.txt
@@ -293,7 +293,7 @@ endif(USE_STATIC_MBEDTLS_LIBRARY)
 if(USE_SHARED_MBEDTLS_LIBRARY)
     set(CMAKE_LIBRARY_PATH ${CMAKE_CURRENT_BINARY_DIR})
     add_library(${mbedcrypto_target} SHARED ${src_crypto})
-    set_target_properties(${mbedcrypto_target} PROPERTIES VERSION 3.4.1 SOVERSION 14)
+    set_target_properties(${mbedcrypto_target} PROPERTIES VERSION 3.5.0 SOVERSION 14)
     target_link_libraries(${mbedcrypto_target} PUBLIC ${libs})
 
     if(TARGET everest)
@@ -305,11 +305,11 @@ if(USE_SHARED_MBEDTLS_LIBRARY)
     endif()
 
     add_library(${mbedx509_target} SHARED ${src_x509})
-    set_target_properties(${mbedx509_target} PROPERTIES VERSION 3.4.1 SOVERSION 5)
+    set_target_properties(${mbedx509_target} PROPERTIES VERSION 3.5.0 SOVERSION 5)
     target_link_libraries(${mbedx509_target} PUBLIC ${libs} ${mbedcrypto_target})
 
     add_library(${mbedtls_target} SHARED ${src_tls})
-    set_target_properties(${mbedtls_target} PROPERTIES VERSION 3.4.1 SOVERSION 19)
+    set_target_properties(${mbedtls_target} PROPERTIES VERSION 3.5.0 SOVERSION 19)
     target_link_libraries(${mbedtls_target} PUBLIC ${libs} ${mbedx509_target})
 endif(USE_SHARED_MBEDTLS_LIBRARY)
 
diff --git a/tests/suites/test_suite_version.data b/tests/suites/test_suite_version.data
index dac3f7095..11c41b0d0 100644
--- a/tests/suites/test_suite_version.data
+++ b/tests/suites/test_suite_version.data
@@ -1,8 +1,8 @@
 Check compile time library version
-check_compiletime_version:"3.4.1"
+check_compiletime_version:"3.5.0"
 
 Check runtime library version
-check_runtime_version:"3.4.1"
+check_runtime_version:"3.5.0"
 
 Check for MBEDTLS_VERSION_C
 check_feature:"MBEDTLS_VERSION_C":0