diff --git a/CHANGELOG.md b/CHANGELOG.md
index b98909fdb..3855238ab 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Changelog
 
-## Latest
+## 1.3.0
 * Make errors more descriptive [#1102](https://github.com/membraneframework/membrane_core/pull/1102)
 * Add `:broadcast` action for sending data to all output pads of an element
 * Deprecate `:forward` action in favour of `:broadcast`
diff --git a/README.md b/README.md
index ed2ed1f88..c6ef0d95b 100644
--- a/README.md
+++ b/README.md
@@ -94,7 +94,7 @@ Apart from plugins, Membrane has stream formats, which live in `membrane_X_forma
 The API for creating pipelines (and custom elements too) is provided by [membrane_core](https://github.com/membraneframework/membrane_core). To install it, add the following line to your `deps` in `mix.exs` and run `mix deps.get`
 
 ```elixir
-{:membrane_core, "~> 1.2"}
+{:membrane_core, "~> 1.3"}
 ```
 
 **Standalone libraries**
diff --git a/mix.exs b/mix.exs
index 87d712097..f1654fd56 100644
--- a/mix.exs
+++ b/mix.exs
@@ -1,7 +1,7 @@
 defmodule Membrane.Mixfile do
   use Mix.Project
 
-  @version "1.2.7"
+  @version "1.3.0"
   @source_ref "v#{@version}"
   @hex_packages_path "scripts/elixir/hex_packages.exs"