diff --git a/docs/release-notes/version-3.4.md b/docs/release-notes/version-3.4.md
index 82d0b151c..b511aee98 100644
--- a/docs/release-notes/version-3.4.md
+++ b/docs/release-notes/version-3.4.md
@@ -1,5 +1,9 @@
 # NetBox v3.4
 
+## v3.4.2 (FUTURE)
+
+---
+
 ## v3.4.1 (2022-12-16)
 
 ### Enhancements
diff --git a/netbox/netbox/settings.py b/netbox/netbox/settings.py
index bc1b713b1..cc0a3c016 100644
--- a/netbox/netbox/settings.py
+++ b/netbox/netbox/settings.py
@@ -24,7 +24,7 @@ from netbox.constants import RQ_QUEUE_DEFAULT, RQ_QUEUE_HIGH, RQ_QUEUE_LOW
 # Environment setup
 #
 
-VERSION = '3.4.1'
+VERSION = '3.4.2-dev'
 
 # Hostname
 HOSTNAME = platform.node()