diff --git a/tensorflow_addons/version.py b/tensorflow_addons/version.py
index ab9cf14512..00e83fed9b 100644
--- a/tensorflow_addons/version.py
+++ b/tensorflow_addons/version.py
@@ -21,7 +21,7 @@
 # We follow Semantic Versioning (https://semver.org/)
 _MAJOR_VERSION = "0"
 _MINOR_VERSION = "16"
-_PATCH_VERSION = "0"
+_PATCH_VERSION = "1"
 
 # When building releases, we can update this value on the release branch to
 # reflect the current release candidate ('rc0', 'rc1') or, finally, the official