diff --git a/CMakeLists.txt b/CMakeLists.txt
index 97dbc61057..6cf0d289ef 100755
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -28,7 +28,7 @@ find_program(GIT NAMES git)
 
 ## Setup the package version based on git tags.
 set(PKG_VERSION_GIT_TAG_PREFIX "amdsmi_pkg_ver")
-get_package_version_number("24.5.0" ${PKG_VERSION_GIT_TAG_PREFIX} GIT)
+get_package_version_number("24.5.1" ${PKG_VERSION_GIT_TAG_PREFIX} GIT)
 message("Package version: ${PKG_VERSION_STR}")
 set(${AMD_SMI_LIBS_TARGET}_VERSION_MAJOR "${CPACK_PACKAGE_VERSION_MAJOR}")
 set(${AMD_SMI_LIBS_TARGET}_VERSION_MINOR "${CPACK_PACKAGE_VERSION_MINOR}")
diff --git a/amdsmi_cli/README.md b/amdsmi_cli/README.md
index 72028e5bb3..06e891475c 100644
--- a/amdsmi_cli/README.md
+++ b/amdsmi_cli/README.md
@@ -79,7 +79,7 @@ amd-smi will report the version and current platform detected when running the c
 ~$ amd-smi
 usage: amd-smi [-h]  ...
 
-AMD System Management Interface | Version: 24.5.0.0 | ROCm version: 6.1.1 | Platform: Linux Baremetal
+AMD System Management Interface | Version: 24.5.1.0 | ROCm version: 6.1.1 | Platform: Linux Baremetal
 
 options:
   -h, --help          show this help message and exit
diff --git a/docs/doxygen/Doxyfile b/docs/doxygen/Doxyfile
index de8ab73b66..ef62d4d1c2 100644
--- a/docs/doxygen/Doxyfile
+++ b/docs/doxygen/Doxyfile
@@ -48,7 +48,7 @@ PROJECT_NAME           = AMD SMI
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = "24.5.0.0"
+PROJECT_NUMBER         = "24.5.1.0"
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/include/amd_smi/amdsmi.h b/include/amd_smi/amdsmi.h
index 3f7bd3989e..ba73c093b9 100644
--- a/include/amd_smi/amdsmi.h
+++ b/include/amd_smi/amdsmi.h
@@ -154,7 +154,7 @@ typedef enum {
 #define AMDSMI_LIB_VERSION_MAJOR 5
 
 //! Minor version should be updated for each API change, but without changing headers
-#define AMDSMI_LIB_VERSION_MINOR 0
+#define AMDSMI_LIB_VERSION_MINOR 1
 
 //! Release version should be set to 0 as default and can be updated by the PMs for each CSP point release
 #define AMDSMI_LIB_VERSION_RELEASE 0