diff --git a/python/ray/__init__.py b/python/ray/__init__.py
index 421b1c6838ac3..03792e5eb48a2 100644
--- a/python/ray/__init__.py
+++ b/python/ray/__init__.py
@@ -96,7 +96,7 @@
 from ray.runtime_context import _get_runtime_context  # noqa: E402
 
 # Ray version string.
-__version__ = "0.7.1"
+__version__ = "0.8.0.dev1"
 
 __all__ = [
     "global_state",