diff --git a/python/pyproject.toml b/python/pyproject.toml
index c8505a1e..62df5233 100644
--- a/python/pyproject.toml
+++ b/python/pyproject.toml
@@ -7,7 +7,7 @@ build-backend = "packager.pep517"
 
 [project]
 name = "treelite"
-version = "4.0.0rc4"
+version = "4.0.0"
 authors = [
     {name = "Hyunsu Cho", email = "chohyu01@cs.washington.edu"}
 ]
diff --git a/python/treelite/VERSION b/python/treelite/VERSION
index 3e8a9c09..fcdb2e10 100644
--- a/python/treelite/VERSION
+++ b/python/treelite/VERSION
@@ -1 +1 @@
-4.0.0rc4
+4.0.0