diff --git a/Makefile b/Makefile
index 67818f02..c5706d6f 100644
--- a/Makefile
+++ b/Makefile
@@ -84,6 +84,7 @@ GOOS=linux
 PACKAGE=sigs.k8s.io/node-feature-discovery-operator
 MAIN_PACKAGE=main.go
 BIN=node-feature-discovery-operator
+LDFLAGS = -ldflags "-s -w -X sigs.k8s.io/node-feature-discovery-operator/pkg/version.version=$(VERSION)"
 
 PROJECT_DIR := $(shell dirname $(abspath $(lastword $(MAKEFILE_LIST))))
 
@@ -100,7 +101,7 @@ go_mod:
 
 # Build binary
 build: go_mod
-	@GOOS=$(GOOS) GO111MODULE=on CGO_ENABLED=0 $(GO_CMD) build -o $(BIN) $(MAIN_PACKAGE)
+	@GOOS=$(GOOS) GO111MODULE=on CGO_ENABLED=0 $(GO_CMD) build -o $(BIN) $(LDFLAGS) $(MAIN_PACKAGE)
 
 # Run against the configured Kubernetes cluster in ~/.kube/config
 run: generate fmt vet manifests
diff --git a/main.go b/main.go
index 02016d63..71b9c02d 100644
--- a/main.go
+++ b/main.go
@@ -22,7 +22,6 @@ import (
 	"os"
 
 	_ "k8s.io/client-go/plugin/pkg/client/auth"
-	"k8s.io/component-base/version"
 	"k8s.io/klog/v2"
 
 	"k8s.io/apimachinery/pkg/runtime"
@@ -34,6 +33,7 @@ import (
 	nfdkubernetesiov1 "sigs.k8s.io/node-feature-discovery-operator/api/v1"
 	"sigs.k8s.io/node-feature-discovery-operator/controllers"
 	"sigs.k8s.io/node-feature-discovery-operator/pkg/utils"
+	"sigs.k8s.io/node-feature-discovery-operator/pkg/version"
 	// +kubebuilder:scaffold:imports
 )
 
diff --git a/version/version.go b/pkg/version/version.go
similarity index 53%
rename from version/version.go
rename to pkg/version/version.go
index 980a59c6..cd3e86dc 100644
--- a/version/version.go
+++ b/pkg/version/version.go
@@ -1,11 +1,11 @@
 /*
-Copyright 2020 The Kubernetes Authors.
+Copyright 2022 The Kubernetes Authors.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
 You may obtain a copy of the License at
 
-	http://www.apache.org/licenses/LICENSE-2.0
+    http://www.apache.org/licenses/LICENSE-2.0
 
 Unless required by applicable law or agreed to in writing, software
 distributed under the License is distributed on an "AS IS" BASIS,
@@ -16,7 +16,17 @@ limitations under the License.
 
 package version
 
-var (
-	// Version tracks the NFD operator release
-	Version = "0.0.1"
-)
+const undefinedVersion string = "undefined"
+
+// Must not be const, supposed to be set using ldflags at build time
+var version = undefinedVersion
+
+// Get returns the version as a string
+func Get() string {
+	return version
+}
+
+// Undefined returns if version is at it's default value
+func Undefined() bool {
+	return version == undefinedVersion
+}