diff --git a/cmake/packaging/debian.cmake b/cmake/packaging/debian.cmake
index f93dd114c06b96..90b01a196cec84 100644
--- a/cmake/packaging/debian.cmake
+++ b/cmake/packaging/debian.cmake
@@ -93,6 +93,7 @@ macro(ov_cpack_settings)
         2023.3.0 2023.3.1 2023.3.2 2023.3.3 2023.3.4 2023.3.5
         2024.0.0
         2024.1.0
+        2024.2.0
         )
 
     ov_check_conflicts_versions(conflicting_versions)
diff --git a/cmake/packaging/rpm.cmake b/cmake/packaging/rpm.cmake
index 3456b74cd9b996..6bbeba02bdc11f 100644
--- a/cmake/packaging/rpm.cmake
+++ b/cmake/packaging/rpm.cmake
@@ -81,6 +81,7 @@ macro(ov_cpack_settings)
         2023.3.0 2023.3.1 2023.3.2 2023.3.3 2023.3.4 2023.3.5
         2024.0.0
         2024.1.0
+        2024.2.0
         )
 
     ov_check_conflicts_versions(conflicting_versions)
diff --git a/src/core/include/openvino/core/version.hpp b/src/core/include/openvino/core/version.hpp
index 29ecd9ab90e957..07894b161ce349 100644
--- a/src/core/include/openvino/core/version.hpp
+++ b/src/core/include/openvino/core/version.hpp
@@ -20,7 +20,7 @@
  */
 
 #define OPENVINO_VERSION_MAJOR 2024
-#define OPENVINO_VERSION_MINOR 2
+#define OPENVINO_VERSION_MINOR 3
 #define OPENVINO_VERSION_PATCH 0
 
 namespace ov {