diff --git a/CHANGELOG.md b/CHANGELOG.md
index b5930cd5..bad47151 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # NVIDIA Container Toolkit Changelog
 
+## v1.13.0-rc.1
+
+* Bump version to v1.13.0-rc.1
+
 ## v1.12.0
 
 * Promote `v1.12.0-rc.5` to `v1.12.0`
diff --git a/versions.mk b/versions.mk
index 7569e232..5b2e7fd3 100644
--- a/versions.mk
+++ b/versions.mk
@@ -13,7 +13,8 @@
 # limitations under the License.
 
 LIB_NAME := nvidia-container-toolkit
-LIB_VERSION := 1.12.0
+LIB_VERSION := 1.13.0
+LIB_TAG := rc.1
 
 # Specify the nvidia-docker2 and nvidia-container-runtime package versions.
 # Note: The build tooling uses `LIB_TAG` above as the version tag.