diff --git a/CMakeLists.txt b/CMakeLists.txt
index b08debbcd5..d058b2ebee 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -26,7 +26,7 @@ if(POLICY CMP0169)
 endif()
 
 project(OpenVINOGenAI
-        VERSION 2024.5.0.0
+        VERSION 2025.0.0.0
         DESCRIPTION "OpenVINO GenAI"
         HOMEPAGE_URL "https://github.com/openvinotoolkit/openvino.genai"
         LANGUAGES CXX C)
diff --git a/pyproject.toml b/pyproject.toml
index fd097d5034..5791d21ae5 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "openvino-genai"
-version = "2024.5.0.0"
+version = "2025.0.0.0"
 description = "Python bindings for https://github.com/openvinotoolkit/openvino.genai"
 requires-python = ">=3.9"
 readme = {file = "src/README.md", content-type="text/markdown"}
@@ -15,7 +15,7 @@ classifiers = [
     "Programming Language :: Python :: 3.12",
 ]
 dependencies = [
-    "openvino_tokenizers~=2024.5.0.0.dev"
+    "openvino_tokenizers~=2025.0.0.0.dev"
 ]
 
 [tool.py-build-cmake.module]
diff --git a/samples/deployment-requirements.txt b/samples/deployment-requirements.txt
index c94f8d6a13..c29f496c84 100644
--- a/samples/deployment-requirements.txt
+++ b/samples/deployment-requirements.txt
@@ -1,5 +1,5 @@
 --extra-index-url https://storage.openvinotoolkit.org/simple/wheels/nightly
 --pre
-openvino_genai~=2024.5.0.0.dev
+openvino_genai~=2025.0.0.0.dev
 librosa==0.10.2  # For Whisper
 pillow==11.0.0  # Image processing
diff --git a/samples/export-requirements.txt b/samples/export-requirements.txt
index d03eaa633b..a84926f746 100644
--- a/samples/export-requirements.txt
+++ b/samples/export-requirements.txt
@@ -1,7 +1,7 @@
 --extra-index-url https://download.pytorch.org/whl/cpu
 --extra-index-url https://storage.openvinotoolkit.org/simple/wheels/nightly
 --pre
-openvino-tokenizers~=2024.5.0.0.dev
+openvino-tokenizers~=2025.0.0.0.dev
 optimum-intel @ git+https://github.com/huggingface/optimum-intel.git
 numpy<2.0.0; sys_platform == 'darwin'
 einops==0.8.0  # For Qwen
diff --git a/thirdparty/openvino_tokenizers b/thirdparty/openvino_tokenizers
index 16da7f3901..306dcd8dae 160000
--- a/thirdparty/openvino_tokenizers
+++ b/thirdparty/openvino_tokenizers
@@ -1 +1 @@
-Subproject commit 16da7f39010daa04809f9552fa00f53ac521439b
+Subproject commit 306dcd8daec36bbc680c50c68de1e954f42b0ab8