diff --git a/docs/release-notes/version-3.5.md b/docs/release-notes/version-3.5.md
index 3143bbdea..e0c34bb40 100644
--- a/docs/release-notes/version-3.5.md
+++ b/docs/release-notes/version-3.5.md
@@ -1,5 +1,9 @@
 # NetBox v3.5
 
+## v3.5.4 (FUTURE)
+
+---
+
 ## v3.5.3 (2023-06-02)
 
 ### Enhancements
diff --git a/netbox/netbox/settings.py b/netbox/netbox/settings.py
index 4e27e59a4..e77ac43c0 100644
--- a/netbox/netbox/settings.py
+++ b/netbox/netbox/settings.py
@@ -25,7 +25,7 @@ from netbox.constants import RQ_QUEUE_DEFAULT, RQ_QUEUE_HIGH, RQ_QUEUE_LOW
 # Environment setup
 #
 
-VERSION = '3.5.3'
+VERSION = '3.5.4-dev'
 
 # Hostname
 HOSTNAME = platform.node()