diff --git a/Makefile b/Makefile
index 76fb3ee9..04c0e35e 100644
--- a/Makefile
+++ b/Makefile
@@ -1,4 +1,4 @@
-VERSION ?= v0.4.1
+VERSION ?= v0.4.2
 # Image URL to use all building/pushing image targets
 REGISTRY ?= ghcr.io/azure/gpu-provisioner
 IMG_NAME ?= gpu-provisioner
diff --git a/charts/gpu-provisioner/Chart.yaml b/charts/gpu-provisioner/Chart.yaml
index 67e72201..bb3307b6 100644
--- a/charts/gpu-provisioner/Chart.yaml
+++ b/charts/gpu-provisioner/Chart.yaml
@@ -2,8 +2,8 @@ apiVersion: v2
 name: gpu-provisioner
 description: A Helm chart for gpu-provisioner
 type: application
-version: 0.4.1
-appVersion: 0.4.1
+version: 0.4.2
+appVersion: 0.4.2
 sources:
   - https://github.com/Azure/gpu-provisioner
 maintainers:
diff --git a/charts/gpu-provisioner/values.yaml b/charts/gpu-provisioner/values.yaml
index 65c69b45..5fdd9a8b 100644
--- a/charts/gpu-provisioner/values.yaml
+++ b/charts/gpu-provisioner/values.yaml
@@ -105,7 +105,7 @@ controller:
     # -- Repository path to the controller image.
     repository: mcr.microsoft.com/aks/kaito/gpu-provisioner
     # -- Tag of the controller image.
-    tag: 0.4.1
+    tag: 0.4.2
     # -- SHA256 digest of the controller image.
     digest: ""
   # -- SecurityContext for the controller container.