diff --git a/VERSION b/VERSION
index 25e86328..1545d966 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-3.4.12
+3.5.0
diff --git a/cloudbuild.yaml b/cloudbuild.yaml
index cc146566..0fd9df0a 100644
--- a/cloudbuild.yaml
+++ b/cloudbuild.yaml
@@ -31,7 +31,7 @@ substitutions:
   # vYYYYMMDD-hash, and can be used as a substitution
   _GIT_TAG: '12345'
   _PULL_BASE_REF: 'dev'
-  _IMG_VERSION: 'v3.4.12-1'
+  _IMG_VERSION: 'v3.5.0-0'
 
 tags:
 - 'kpromo'
diff --git a/dependencies.yaml b/dependencies.yaml
index 19728fa4..1971eaf7 100644
--- a/dependencies.yaml
+++ b/dependencies.yaml
@@ -1,7 +1,7 @@
 dependencies:
   # Release version
   - name: "repo release version"
-    version: 3.4.12
+    version: 3.5.0
     refPaths:
     - path: VERSION
 
@@ -57,7 +57,7 @@ dependencies:
       match: go \d+.\d+
 
   - name: "k8s.gcr.io/artifact-promoter/kpromo"
-    version: v3.4.12-1
+    version: v3.5.0-0
     refPaths:
     - path: cloudbuild.yaml
       match: "_IMG_VERSION: 'v((([0-9]+)\\.([0-9]+)\\.([0-9]+)(?:-([0-9a-zA-Z-]+(?:\\.[0-9a-zA-Z-]+)*))?)(?:\\+([0-9a-zA-Z-]+(?:\\.[0-9a-zA-Z-]+)*))?)-([0-9]+)'"
diff --git a/workspace_status.sh b/workspace_status.sh
index 7b4c1d68..c0e90195 100755
--- a/workspace_status.sh
+++ b/workspace_status.sh
@@ -65,7 +65,7 @@ p_ IMG_REGISTRY gcr.io
 p_ IMG_REPOSITORY k8s-staging-artifact-promoter
 p_ IMG_NAME kpromo
 p_ IMG_TAG "${image_tag}"
-p_ IMG_VERSION v3.4.12-1
+p_ IMG_VERSION v3.5.0-0
 p_ TEST_AUDIT_PROD_IMG_REPOSITORY us.gcr.io/k8s-gcr-audit-test-prod
 p_ TEST_AUDIT_STAGING_IMG_REPOSITORY gcr.io/k8s-gcr-audit-test-prod
 p_ TEST_AUDIT_PROJECT_ID k8s-gcr-audit-test-prod