diff --git a/doc/conf.py b/doc/conf.py
index 21361e1e701..f5d7a5db811 100644
--- a/doc/conf.py
+++ b/doc/conf.py
@@ -33,7 +33,7 @@
 # The short X.Y version
 version = "0.12"
 # The full version, including alpha/beta/rc tags
-release = "0.12.1dev0"
+release = "0.12.1"
 
 
 # -- General configuration ---------------------------------------------------
diff --git a/dpnp/backend/doc/Doxyfile b/dpnp/backend/doc/Doxyfile
index 342259d1fe1..ec73279f6eb 100644
--- a/dpnp/backend/doc/Doxyfile
+++ b/dpnp/backend/doc/Doxyfile
@@ -38,7 +38,7 @@ PROJECT_NAME           = "DPNP C++ backend kernel library"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 0.12.1dev0
+PROJECT_NUMBER         = 0.12.1
 
 # 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/dpnp/version.py b/dpnp/version.py
index e9e9a0d6df2..7a7e657e1f1 100755
--- a/dpnp/version.py
+++ b/dpnp/version.py
@@ -29,6 +29,6 @@
 DPNP version module
 """
 
-__version__: str = "0.12.1dev0"
+__version__: str = "0.12.1"
 
 version: str = __version__