diff --git a/.ci/bwcVersions b/.ci/bwcVersions
index f6929d678da44..786ec33a16558 100644
--- a/.ci/bwcVersions
+++ b/.ci/bwcVersions
@@ -80,3 +80,4 @@ BWC_VERSION:
   - "2.11.0"
   - "2.11.1"
   - "2.11.2"
+  - "2.12.0"
diff --git a/buildSrc/version.properties b/buildSrc/version.properties
index 0046112fd5633..1e202fb098350 100644
--- a/buildSrc/version.properties
+++ b/buildSrc/version.properties
@@ -1,4 +1,4 @@
-opensearch        = 2.12.0
+opensearch        = 2.12.1
 lucene            = 9.9.2
 
 bundled_jdk_vendor = adoptium
diff --git a/libs/core/src/main/java/org/opensearch/Version.java b/libs/core/src/main/java/org/opensearch/Version.java
index 5b3d86fdf308f..c797efd56d0f0 100644
--- a/libs/core/src/main/java/org/opensearch/Version.java
+++ b/libs/core/src/main/java/org/opensearch/Version.java
@@ -124,7 +124,8 @@ public class Version implements Comparable<Version>, ToXContentFragment {
     public static final Version V_2_11_1 = new Version(2110199, org.apache.lucene.util.Version.LUCENE_9_7_0);
     public static final Version V_2_11_2 = new Version(2110299, org.apache.lucene.util.Version.LUCENE_9_7_0);
     public static final Version V_2_12_0 = new Version(2120099, org.apache.lucene.util.Version.LUCENE_9_9_2);
-    public static final Version CURRENT = V_2_12_0;
+    public static final Version V_2_12_1 = new Version(20120199, org.apache.lucene.util.Version.LUCENE_9_9_2);
+    public static final Version CURRENT = V_2_12_1;
 
     public static Version fromId(int id) {
         final Version known = LegacyESVersion.idToVersion.get(id);