diff --git a/NEWS b/NEWS
index 3a200c3b18..9f45b5647b 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,6 @@
+OVN v24.09.3 - xx xxx xxxx
+--------------------------
+
 OVN v24.09.2 - 21 Jan 2025
 --------------------------
   - Bug fixes
diff --git a/configure.ac b/configure.ac
index a6ca69a302..85643ae730 100644
--- a/configure.ac
+++ b/configure.ac
@@ -13,7 +13,7 @@
 # limitations under the License.
 
 AC_PREREQ(2.63)
-AC_INIT(ovn, 24.09.2, bugs@openvswitch.org)
+AC_INIT(ovn, 24.09.3, bugs@openvswitch.org)
 AC_CONFIG_MACRO_DIR([m4])
 AC_CONFIG_AUX_DIR([build-aux])
 AC_CONFIG_HEADERS([config.h])
diff --git a/debian/changelog b/debian/changelog
index eaf182f965..654238483e 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+ovn (24.09.3-1) unstable; urgency=low
+   [ OVN team ]
+   * New upstream version
+
+ -- OVN team <dev@openvswitch.org>  Tue, 21 Jan 2025 18:05:30 -0500
+
 ovn (24.09.2-1) unstable; urgency=low
    [ OVN team ]
    * New upstream version