diff --git a/package.json b/package.json
index 1e314c216c4..bbba0c28e93 100644
--- a/package.json
+++ b/package.json
@@ -2,7 +2,7 @@
     "name": "typescript",
     "author": "Microsoft Corp.",
     "homepage": "https://www.typescriptlang.org/",
-    "version": "3.7.0",
+    "version": "3.8.0",
     "license": "Apache-2.0",
     "description": "TypeScript is a language for application scale JavaScript development",
     "keywords": [
diff --git a/src/compiler/core.ts b/src/compiler/core.ts
index 4941257cabf..d03b7e1c85c 100644
--- a/src/compiler/core.ts
+++ b/src/compiler/core.ts
@@ -1,7 +1,7 @@
 namespace ts {
     // WARNING: The script `configureNightly.ts` uses a regexp to parse out these values.
     // If changing the text in this section, be sure to test `configureNightly` too.
-    export const versionMajorMinor = "3.7";
+    export const versionMajorMinor = "3.8";
     /** The version of the TypeScript compiler release */
     export const version = `${versionMajorMinor}.0-dev`;
 }
diff --git a/tests/baselines/reference/api/tsserverlibrary.d.ts b/tests/baselines/reference/api/tsserverlibrary.d.ts
index b02074e75ef..c43f28c6e90 100644
--- a/tests/baselines/reference/api/tsserverlibrary.d.ts
+++ b/tests/baselines/reference/api/tsserverlibrary.d.ts
@@ -14,7 +14,7 @@ and limitations under the License.
 ***************************************************************************** */
 
 declare namespace ts {
-    const versionMajorMinor = "3.7";
+    const versionMajorMinor = "3.8";
     /** The version of the TypeScript compiler release */
     const version: string;
 }
diff --git a/tests/baselines/reference/api/typescript.d.ts b/tests/baselines/reference/api/typescript.d.ts
index 7361ccb6768..e84b948c938 100644
--- a/tests/baselines/reference/api/typescript.d.ts
+++ b/tests/baselines/reference/api/typescript.d.ts
@@ -14,7 +14,7 @@ and limitations under the License.
 ***************************************************************************** */
 
 declare namespace ts {
-    const versionMajorMinor = "3.7";
+    const versionMajorMinor = "3.8";
     /** The version of the TypeScript compiler release */
     const version: string;
 }